The Cabinet has considered the process for the Stockport Town Centre Business Improvement District (BID) to carry out a ballot in October 2021 and the specific role of the Council and its responsibilities in relation to the ballot, and has:-
(1) Delegated authority to the Cabinet Member for Economy & Regeneration to:
(i) On the basis of the draft Business Plan, the Council would not wish to veto the BID proposals. Note: the Council is not required to formally agree any BID proposal, rather it can only veto BID proposals if they are contrary to formally adopted and published Council policy.
(ii) That, subject to agreeing not to veto the final proposals, the Chief Executive as Returning Officer and “Ballot Holder” agrees to hold a ballot for the proposed Stockport Town Centre BID, upon receipt of a formal request to do so by Stockport BID.
(iii) Casts the Council’s vote in the BID Ballot should it take place.
(2) If the Ballot takes place and is successful, agreed to:
(i) Allocate annual funds to cover the Council’s obligations arising from the BID levy over the life of the BID (5 years).
(ii) Agree to annually pass on to the BID Company the total value of the funds collected through the levy.