Minutes:
The Markets Manager delivered a presentation in respect of Bromsgrove market and changes that had been made to the market since the Council reintroduced in-house service delivery in June 2018 (Appendix 1). Following the delivery of the presentation Councillor K. May, as the Portfolio Holder for Economic Development, the Town Centre and Strategic Partnerships, extended her thanks to the Market Manager and his team for their hard work over the previous 12 months. During this time progress had been made and the themed markets and successful Christmas market were welcomed as an asset to the town.
Members subsequently discussed the market in some detail and in doing so considered the following points:
· The geographical remit of the Market Manager’s team. Members were advised that the team worked within the market in Bromsgrove town centre and not with markets in other parts of the district. This was the market that had previously been managed by an external company on behalf of the Council.
· The availability of parking for market traders and the potential for free parking spaces to be provided. Members were advised that market traders were not treated any differently to anybody else when it came to parking.
· The availability of incentives to encourage market traders to continue to trade in Bromsgrove. The Board was informed that there were a number of incentives offered to market traders, including holiday entitlement.
· The 80 per cent occupancy in the market and how this compared to markets in other parts of the country. Members were advised that the occupancy levels for Bromsgrove market were in the highest quartile nationally, though the Council continued to aspire for an increase in occupancy levels over time.
· The budgetary position for the market. Members were advised that there had been a surplus generated for the market but this had been slightly less than anticipated in the budget for the Council. On an annual basis officers would continue to review the budget for the market and would adjust it to reflect the income from the market moving forward.
· The origins of the market traders and the potential to support local businesses. Members were informed that the Love Your Market campaign would be taking place in 2020 to help promote the market locally.
· The areas covered by the expenditure detailed in the presentation. The Market Manager confirmed that this covered staffing costs, business rates and administrative costs.
· The set up costs involved in bringing management of the market back in house. The Executive Director of Finance and Corporate Resources agreed to report back to Members on this figure.
· The extent to which the Council had recovered funds from the previous external company that had managed the service on the Council’s behalf. Members were advised that there had been full recovery of the debt.
· The arrangements in place to fund the repair and maintenance programme for the market. Members were advised that Officers were working to produce a three year repair and maintenance plan. This would need to be submitted for the consideration of the Council through the usual process.
· The reasons for the higher level of rental income from the market in April. The Board was advised that the rent was paid on a Tuesday by regular market traders and there had been five rather than the average four Tuesdays in April.
· The forthcoming special events due to take place in the market area. Members were informed that there would be a Volunteers’ Day on 18th June when approximately 15 Voluntary and Community Sector (VCS) organisations would have an opportunity to showcase their work. The market would also be involved in all of the festivals and events taking place in Bromsgrove in 2019.
· The forthcoming visit of Digbeth Dining Club to the town.
At the end of the discussions Members agreed that it would be helpful for the Board to receive a further update in respect of the market in 12 months’ time.
RESOLVED that the update in respect of Bromsgrove market be noted.