Decision details
Aldgate Business Improvement District
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
The Aldgate Partnership (TAP) submitted a
request to Tower Hamlets Council, in accordance with Business
Improvement District (BID) Regulations, to hold a ballot in January
2020 to establish a BID. Should the ballot for this BID be
successful it will be the first BID in Tower Hamlets.
A Business Improvement District is a defined area in which a levy
is charged on all business rate payers over a certain rateable
value in addition to the business rates bill. The levy is used to
develop projects which will benefit businesses in the BID boundary
area over and above existing Council Services.
Decision:
DECISION
1. To approve the Aldgate BID proposal to go to ballot in January 2020.
2. To agree to support the formation of the Aldgate BID, subject to a successful ballot, in accordance with the BID Regulations.
3. To agree that the City Of London manage the ballot process for the Aldgate BID area for both Tower Hamlets and CofL.
4. To agree that Legal Services are authorised to prepare the legal agreement required for the operation of the BID ballot.
5. To agree to delegate authority to the Corporate Director Place following consultation with the S.151 Officer to negotiate and settle agreements in relation to funding for the BID process and, subject to a successful ballot, the creation of the BID.
6. To agree that the Council’s cost of supporting the ballot process and the implementing the BID will be recovered over a period of time from the BID levy.
Action by:
CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)
(High Streets and Town Centre Manager (F. Crehan)
(Brick Lane Town Centre Manager (R. Jenman)
Report author: Vicky Allen
Publication date: 27/09/2019
Date of decision: 25/09/2019
Decided at meeting: 25/09/2019 - Cabinet
Accompanying Documents:
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