A £675m government fund currently exists for the improvement and rejuvenation of Britain’s failing High Streets. In order to secure a portion of the available funding, local authorities have to submit a bid.
We are pleased to advise that Poole BID is partnering with the Borough of Poole on a joint bid for Poole High Street. The timeline is as follows:
22nd March 2019 – Initial bids (Expressions of Interest, or EOIs) to be submitted to the government.
Summer 2019 – EOIs which have been successful will be announced.
December 2019 – Formal business cases to be submitted by successful applicants.
Early 2020 – Funds to be released.
Representatives from Poole BID met two weeks ago with 12 other key Poole stakeholders (including Borough of Poole, Poole Quay Forum, Cllr. Ian Potter etc.) and discussed how the joint bid might best be put together. There is a suite of options that are now being considered and there is a good deal of positivity about the quality of bid that the partnership will be able to submit. Suggestions range from shortening the ‘retail’ aspect of the High Street so that the current one-mile-long High Street is easier to fill as a result of being smaller, to more radical ideas such as the creation of new attractions for Poole, plus everything in-between.
If the bid is successful, it is expected that the sum to be granted for somewhere the size of Poole would be circa £5m – £12m.
A good deal of work has gone into this joint bid already, with much more planned before the submission date. Rest assured, your BID directors will do everything possible to ensure the best chance of success.