Agenda item

The Executive RESOLVED that an advance payment of £150,000 in respect of the 2021/22 BID levy due be made to Collectively Camberley Limited.

The Executive considered a request to make an advance payment of Business Improvement District (BID) levy due in respect of the 2021/22 BID year, to Collectively Camberley Limited. Collectively Camberley (CC), a not for profit company that managed the BID for Camberley Town Centre, had been re-elected for third 5-year term to run from 2021 to 2026.

The Council was responsible for maintaining a separate BID Revenue Account for each five-year BID term. Members were advised that the Council had been unable to commence billing procedures for the new BID term until certain steps had been taken, but the BID database would be fully tested and implemented to allow the annual bills to be issued for a 2 December 2021 instalment. As the bills would normally be issued in October, it was proposed to make an advance payment of £150,000 to CC. An undertaking would be required from CC to ensure that the advance could be retained by the Council, from BID levy monies collected, and that no levy beyond the £150,000 advance would be paid to CC until the full £150,000 had been collected.

RESOLVED that an advance payment of £150,000 in respect of the 2021/22 BID levy due be made to Collectively Camberley Limited.