British BIDs (Bb) has acted for the Ministry of Housing, Communities and Local Government (MHCLG) in administering the BID Loan Fund since September 2013. In that time, we have helped to support 23 locations through successful BID development, generating £47,174,592 of additional investment in those places.
In 2013, we agreed to support the Fund by only charging a small one-off set up fee and, since that time, have made no charges thereby ensuring that the maximum could be invested in the places which successfully applied. The contract expires this September at which time we would have been offered the opportunity to re-tender. However, in discussions with our new Advisory Board, we have decided to advise MHCLG that we would not seek to be reappointed and, therefore, an open tender process should be initiated if the Loan Fund is to continue for a further term.
We have been delighted to provide our support to the industry through our administration of the Loan Fund scheme. Since 2013, Bb has undergone substantial growth and transformation, now providing leadership to the BID industry through advocacy, thought-leadership, training, development and renewal support, knowledge-sharing and technical advice. The Advisory Board felt that it was, therefore, an appropriate time to request that MHCLG identifies a new supplier in order that Bb can focus on its broader role.
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