What's a BID?
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| The Business Improvement District Regulations 2004 is legislation which enables local businesses in a clearly defined area to form partnerships with stakeholders to implement improvements which will benefit their locality. |
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BIDs work in addition to existing services provided by the local authority to encourage the revitalization of an area, addressing issues such as image, security, cleanliness or local transport. |
Businesses decide on the issues they want to address, the amount of funding to be raised and the services they want to implement. These must be agreed upon by a majority of ratepayers in the BID area via a Ballot. Approval of a BID has to meet two tests:
- A simple majority of those voting in the BID ballot must vote in favour.
- Those voting in favour must represent a majority by rateable value.
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The improvements will be funded via a supplement to the business rate billed by the local authority. These additional funds will be handed over to a BID company and used to deliver the improvements.
More information on Business Improvement Districts is available at UKBIDs.org |
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"The consultation undertaken with businesses in the Economic
Development Zone (EDZ) in December indicated strong support for a Business Improvement District (BID) and we aim to support the views of local businesses by developing the EDZ BID proposal and encourage businesses to vote 'YES' in the ballot in July in order to ensure the
they want can be delivered effectively. This is your opportunity to it happen by ensuring a 'Yes' vote in July."
Andrew Lightfoot,
Deputy chief executive (regeneration and technical)
@ Blackburn with Darwen Borough Council |
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