Purpose

Officers were asked to review the licence and pitch fees for Watford Market as it is subject to the usual inflationary pressures. Any recommendations put forward would seek to reduce the cost to the council whilst taking into consideration the impact on traders. Key points:

- No licence fee increases since 2019 (COVID legacy) although electricity recharge to traders was introduced in 2022
- Option 1 (recommended option) will deliver additional income of all the options. This option has been discussed with the Market Operator who are supportive.
- The differentiated pricing structure is reflective of the different types of traders within the market
-Market operator to work on a one-to-one basis with traders to communicate the change and explain it in detail to them
- Proposals have been bench marked although it is acknowledged there is no 'like for like' comparison of a similar local authority run market locally.
- It is also recommended that officers are awarded delegated authority in consultation with the Portfolio holder, to set licence fees and pitch fees going forward to ensure flexibility and the ability to respond to the economic environment.

Decision

Resolved:

Three decisions:

1. That the recommended price 'Option 1' is implemented in 2024/25
   12.5% food traders
   5% non-food
   £5 for Parade gazebos
2. Delegated officer (Associate Director) authority to set licence and pitch fees in consultation with the Portfolio Holder on an annual basis.
3. There is an annual review of the licence fee and Parade (on-street gazebo) pitch fee.

Alternative options considered

Options considered for 24/25:
Option 1
12.5% increase for food traders
5% increase for non-food traders
£5 for on-street gazebos
Option 2
Inflation increase for food and non food traders
£5 for on-street gazebos
Option 3
Above inflation increase for food and non food traders
£5 for on-street gazebos