Received a report outlining the Government proposals contained in draft legislation for giving powers for carrying out improvements funded through the collection of an additional levy on business ratepayers from within a designated “Business Improvement District” (BID). Funds would be spent on issues such as environmental matters, CCTV and signage
The draft legislation presently provides for BID applications to be made from April 2004. Potential BID areas are the River Road industrial area and Barking Town Centre.
Agreed, in order to help stimulate economic activity and help to develop the local economy, that ‘in principle’ approval is granted in order to develop a BID application for the River Road Industrial area and Barking Town Centre, subject to external funding support being available to undertake the necessary preparatory work.