What is a Business Improvement District (BID)?
- A partnership between a local authority and the local business community that develops and takes forward projects and services that benefit the trading environment.
- BIDs are an investment in the local trading environment through the provision of added value services.
- A BID sits businesses and local authorities around the table as equal partners working toward common goals. Identifying what issues and drivers are important to various stakeholders must be done through
- consultation, engagement and securing their participation in the BID development process.
Why are BIDs needed?
- BIDs support the long-term sustainability of town and city centres. This support is needed because town and city centres have been under increasing pressure since the development of out of town shopping and the over-provision of retail space which resulted in boom and bust cycles of the 1980s.
- BIDs enable town and city centres to approach the management of the trading environment / public space in a proactive and planned way allowing them to gain and retain competitive advantage over the (often high quality) managed environment in shopping centres.
Who pays for a BID?
- Non-domestic rate payers within a BID area pay for the BID through a supplement in their rates bill. A BID proposal will state whether all rate payers will be charged or if the charge only applies to a particular group.
How does an area become a BID?
- Businesses will identify the area and the issues, and put together a proposal which should include delivery guarantees, performance indicators and management structure.
- BID proposals are voted on by the non-domestic rate payers who will be responsible for paying the BID levy. Businesses must vote in favour of a BID in order for it to be established.
- They vote in a postal ballot conducted by the local authority.
- A successful vote for a BID must meet two tests. More than 50% of votes cast must be in favour of the BID and the positive vote must represent more than 50% of the rateable value of the votes cast.
- A BIDs mandate is for a maximum of 5 years. A BID wishing to continue beyond 5 years must reaffirm their mandate through another ballot, based on a further proposal.
New from February 2016
A quicker and easier way to pay your BID Levy is now available. The payment will be taken in full by Mansfield District Council on 1st April. If you’ve not already received your Direct Debit form please download it from here BID DD form or call the BID office on 01623 633939 and we’ll deliver a form to you.