Issue - meetings

Advantages

Disadvantages

Risks

Option 1: Do nothing

No advantages.

Loss of credibility with business community. 

No contribution to council’s Corporate objectives.

Council may be in breach of statutory duties to support BID proposer as defined in BID legislation. 

Option 2: Reinstate £40K feasibility study budget for Morecambe BID and award via funding agreement  to Lancaster Chamber

Successful BID should have benefits for the local authority as well as the business community.

Clear and credible leadership for the business community to identify with.

Potential for more effective use of council resources and innovation in town centre service delivery.

Should engender a closer relationship between business community and statutory service providers.

Fosters improved and clearer communication and genuine partnership with business

Effective opportunity for local businesses to have a voice on subjects relating to the environment in which they trade.

No guarantee that Morecambe BID ballot would ultimately be successful or voted in.

Allocated resource for the Chamber as BID proposer to move to ‘BID readiness’ will need to be supplemented by council officer resources. 

Relatively long lead in period to ensure best possible chance of success.

Council and officer resources required pre and post ballot.

Implications for council and other statutory services of committing to ‘baseline’ service provision over BID lifetime may reduce flexibility. 

Option 3: Explore alternative routes for funding (for example Portas Pilot funds), reduce funding or secure an alternative BID Proposer

Could have same advantages as Option 2.

Could reduce impact on council budgets.

Could give certainty that Portas Pilot resources will be used by the target end date. 

As Option 2 but with the following considerations:

No alternative partnership/route to BID implementation that has current credibility with local stakeholders and the local business community.

Town Team is working to allocate remaining Portas Pilot resources to projects.  The Portas money is also focused on Victoria Street and the BID will inevitably be wider than this focus. 

Issue of equity between town centres where Lancaster has previously received full £40K allocation from the City Council.

As Option 2 but more difficult and time consuming to reach ballot stage