Background
In early 2007 Torbay Chambers of Commerce and the Torbay Development Agency Ltd realised the potential benefits of bringing Business Improvement Districts to Torbay. A Shadow BID Board was formed drawing in representation from the Chambers, local traders and Torbay Council /Torbay Development Agency.
As there are a number of successful BIDs already operating in the South West visits were made to both Taunton and Plymouth to see how a successful BID operates and to share good practice. The clear message that came from these visits and other research undertaken is that a BID must be owned by the local trading community if it is to be successful. The Torbay Development Agency was successful in securing funding from Torbay Council and the SWRDA and Torbay Town Centres Company was registered as a company limited by guarantee.
The key functions of the Company are:
- to work with the local business community and Torbay Council to prepare and submit a proposal for the establishment of a Business Improvement District ("BID") as provided by the Local Government Act 2003
- to promote the town centres of Torbay as regional centres for leisure, tourism, entertainment, cultural, shopping, residential and commercial activities in South Devon and to increase the number of visitors to Torbay
- to define and procure the delivery of town centres management activities to support the needs of the businesses in the BID Areas
- to co-ordinate and procure the delivery of services such as cleaning, community safety and renovation of the BID Areas
- to work with stakeholders interested in the economic development of the BID Areas
- to work with Torbay Development Agency ("TDA") and others where appropriate to attract new partners, investment, business and events to the Torbay area
The benefits of having a separate company rather than using Torbay Council as the management vehicle include:
- Greater freedom to offer a more competitive salary to secure high enough calibre of Chief Executive for the complex role ahead
- Can then be clearly seen to be business sector led rather than additional tax for Torbay Council to undertake work of their choosing
- Brings the business community together to create one voice to consult on key issues affecting trade
- Private sector driven, the local authority is a key partner and contributor but must have less than 20% representation on the board
- Opportunity to bid for additional funding opportunities which may not be available to Torbay Council
Torbay Town Centres Company will be responsible for:
- Employment of any staff other than those provided by Torbay Council
- Development of an overall strategy for the Bay
- Bay wide consultation particularly with other stakeholders and Torbay Council