A Business Improvement District is a partnership between a local
authority and the local business community to develop projects and
services that will benefit the trading environment within the
boundary of a clearly defined commercial area.
BIDs allow businesses in a defined area and business sector(s)
to vote on which additional services they want to invest in, to
improve their trading environment.
The vote is open to tenants -
If a majority, both by number and by rateable value, approve the
proposal, all ratepayers will contribute through their business
rates.
BIDs give local businesses the power to effect changes that will
benefit them in their local community. Improvements may include
extra safety/security, cleansing and environmental measures,
improved promotion of the area, improved events, and greater
advocacy on key issues, but the legislation does not put a limit on
what products or services are provided.
Businesses have the opportunity to agree on the projects for
which they are contributing and to vote in a ballot on the amount
of money they are prepared to raise, enabling them to become
involved in the administration of the schemes themselves. BIDs are
operated by not-for-profit partnership organisations.
The interests of large and small businesses are protected
through a system which requires a successful vote to have a simple
majority in both votes cast and rateable value of votes cast.
Businesses must be able to sustain the additional cost - if they
are not viable the BID levy raise enough income to make it a
worthwhile venture.
Once voted for, the levy becomes mandatory on all defined
ratepayers and is treated as a statutory debt.
The plan voted for has a lifespan of 5 years and further
proposals will have to be reaffirmed through a vote.
Local Authorities play an important facilitating role and in
particular are charged with legal responsibilities, including the
provision of the ratings data to calculate the BID levy, the
collection and enforcement of the BID levy via a ring-fenced BID
Revenue Account that is then passed straight to the BID company,
the organisation of the formal BID ballot, and the preparation and
commitment to the baseline service agreements.
Recent Updates
Log onto www.thebigheart.net for all
the latest information on the BID.
A group of local businesses has come together to improve the
town centre and focus on four key themes, promoting, welcoming,
enagaging and transforming Merthyr Tydfil.
The pledges.
Over the last two years we have talked extensively to businesses
in the area. As a result The Big Heart of Merthyr Tydfil is making
eight pledges if it becomes a Business Improvement District:
1. Promote the centre to visitors - raising awareness of
attractions and changing perceptions.
2. Capture More local spend by enhancing the visitor experience
and encouraging repeat visitors.
3. Create a welcoming environment and increase the sense of
safety for centre users through our street ambassadors, pubwatch
and shopwatch schemes.
4. Improve communication between businesses, the community and
the Council.
5. Realise cost savings to businesses through collective
purchasing.
6. Improve the town centre environment through further
development and regular maintenance.
7. Represent the interests of local employers in the future
development of the area, insisting on top-quality public realm and
improved amenities.
8. Improve communication between businesses and contractors
about town centre developments.
For further information, please contact Tom Evans at tom@thebigheart.net or call
07511 722332.
You can view and download the
Business Improvement District Development Study