Purpose

This report seeks approval to commence a procurement exercise to appoint a supplier of forecasting data and to identify changes to the rateable value of commercial premises.

Decision

For the reasons set out in this report, the Corporate Director has decided to:

1)    Commence a procurement exercise to appoint a supplier for the provision of rateable value analysis and forecasting information to support the Council's business rates income forecasting and to identify commercial premises that are either not currently assessed for business rates or where the existing rateable value is considered insufficient. The proposed contract will be for an initial period of three years, with an option to extend for a further 12 months, at an estimated contract value of £160,000, excluding VAT.

Alternative options considered

Do nothing. This would mean the current contract expires and the Council has no provider for these services. This would increase the risk that budgeting would be inaccurate and that the Council would miss out on business rates income, and so this option has been discounted.

Bring the service in-house. This option would require specialist knowledge (rating analysts) and systems; therefore the cost of this option is likely to be prohibitive. This option has been discounted.