Chairman’s Update - EGM
Following the AGM, the Board reviewed the operational features for the Company in relation to the winding down procedure after the decision not to go to re-ballot.
As part of the managed closure, the Board commenced a review of the BID in order to consider the appropriate manner in which to maximise remaining funding for the direct benefit of the levy payers, as per our mandate. This included identifying the potential funds available and the existing projects/costs the Colwyn BID is committed to.
Following this review and based on the recommendations provided by the Mid Term Review, it was agreed to devolve responsibility for projects to the four respective areas, thereby negating the need for a Bid Manager and providing direct ownership and control to those communities.
As a result of this decision, the position of Bid Manager held by Ms Cheryl Williams, was made redundant from 11th October.
The BID office is still currently manned by Laura Holland the Marketing and Admin Officer, however, the Board appreciate this is a difficult time for Laura due to the uncertainty of the circumstances we find ourselves in. The Board would like to thank her for her continued support.
At the AGM in September, there was an indication that some of the levy payers would prefer an early termination of the BID, rather than continue for the full term, as the Board proposed.
Given the circumstances that we now find ourselves in, the Board are minded to agree that this would be the best course of action and both Conwy County Borough Council and Welsh Government are supportive of this approach. However, under national BID regulations, steps to terminate the BID cannot be taken until we have conducted a consultation with such representatives of the business community for the geographic area of the BID that the Council considers appropriate. With no representative organisations within the BID area, we, the Board and CCBC, think that this consultation does not need to be elaborate, but should give all levy payers the opportunity to indicate their support or otherwise.
If those present at the EGM agree that this is how the Board should proceed, then we will seek to undertake a postal consultation with all levy payers during November, with a view to terminating the BID on 31st March 2020 and NO BID levy being payable for year 5.
A show of hands was in favour of termination of the BID on 31.3.20, meaning that and we will now conduct a postal consultation with all BID levy payers, as per the regulations. If the majority of the responses received are in favour, the BID will terminate on 31.3.20.
We will provide a frequently asked questions section, in order that all potential queries are answered and an informed decision can be made.
The consultation documents will be sent out as soon as possible so that we can end the uncertainty that currently surrounds all stakeholders.