Penzance BID will come to the end of its current five-year term at the end of May 2020. A second term can begin on 1st June 2020

Since 2015, Penzance BID has delivered projects and services that businesses identified as priorities; a list of achievements can be found within the business plan.

Penzance BID would like to thank all businesses and other partners in the town for the time and support they have given over the past five years which have enabled these initiatives to be successfully delivered.

Last summer, in anticipation of the BID’s first term drawing to a close, Penzance BID consulted widely with circa 445 businesses in the town and with head offices addresses where appropriate.

51% of those businesses engaged in the consultation through relaying their feedback in person or by completing the second term questionnaire.  Encouragingly, more than two-thirds of respondents said they supported a second term and would vote ‘yes’.

Under BID legislation, Penzance BID can renew for a further five years from 2020 – 2025 subject to a new business plan being published and a ballot being held. Our second term business plan has been shaped by the views of our levy paying businesses and can be found here. All eligible levy payers within the BID boundary should have received a copy in the post during January 2020.

Please read through this business plan, taking note of what’s new for BID 2, how Penzance BID intends to work in partnership and their vision, aims and objectives, all informed by our business community.

Penzance BID will generate over £800,000 of funding over the five-year term, supplemented by voluntary contributions, sponsorship, grants and by working closely with partners to make the most effective use of shared resources. Already a further £85,000 has been secured.

The notice of ballot will be issued on 3rd February with ballot papers arriving on or around Monday 17th February for a 28-day postal ballot. All votes need to be received by Cornwall Council on or before Thursday 19th March at 5pm.

To read what businesses in the town think about Penzance BID click here

We hope businesses will be minded to to vote YES to Penzance BID being renewed for a second term. This will enable Penzance businesses to work together to ensure our town remains a welcoming and vibrant place for local people, visitors, businesses and investors to spend time and money.

Please remember, a ‘No’ vote will mean that all the town’s project and services currently delivered as well as those proposed in our business plan will end and it is unlikely that any other organisation will pick up the shortfall. A ‘No’ vote may also prejudice the outcome of the Future High Street and Towns Fund for which Penzance has currently been shortlisted.

If you do have any questions about the Business Improvement District (BID), please contact Jessica Morris on 01736 334652 or 07833 289288 or email team@penzancebid.co.uk

Key Dates

February to March 2019

Consultation with a cross section of levy paying businesses.

July – September 2019

Survey issued to circa 445 levy payers over £6,000 rateable value within the Penzance BID boundary and to a further 20 businesses outside the current boundary.

September 2019

Friday 13th September 2019 – closing date for all questionnaires.

October 2019 to December 2019

Analysis of business feedback and final business plan drafted in response to business views.

January 2020

Final business plan published and circulated to all levy paying businesses.

February 2020

BID ballot papers issued and voting starts (28-day postal ballot).

19th March 2020

Close of postal ballot on Thursday 19th March 2020 at 5pm with result announced on Friday 20th March 2020.

1st June 2020

If the vote is successful, the second term of Penzance BID will commence.

Baseline – Services provided by statutory organisations within Penzance that have a correlation to the projects that the BID will deliver have been documented.  The purpose of this it to ensure that Penzance BID is adding value to current service provision and supporting businesses rather than replacing or duplicating existing services.

An agreement in principle, subject to a successful ‘yes’ vote, has been reached with Cornwall Council, Devon and Cornwall Police and Penzance Town Council that these baselines will be reviewed each year. Cornwall Council issues will be reported through the localism team at Cornwall Council as and when they occur.  For these baselines click here

 

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