How BIDs operate

All organisations with inherited property (rateable business units) can vote in the BID ballot. If the outcome is ‘yes’, all organisations in the BID area must pay the BID levy, regardless of how they voted.

We hold the money in a ring-fenced BID Revenue Account which passes to the BID to spend on projects and services solely in the BID area.

A cap may be applied to the total amount of levy any organisation needs to pay. This accommodates organisations with more than one inherited property in the BID area. It also protects smaller firms with a high rateable value.

The proposal will set the term of the BID, but it can be no more than 5 years (at which point in time a new ballot is required).

Empty properties, excluding listed buildings, will be liable for the BID levy through the property owner.

When a business ratepayer receives charitable relief from business rates, the council give relief from the BID levy. Otherwise, the reduction in the BID levy is only permitted if they are occupying educational-type premises. 

The BID levy rules in the proposal cannot be altered during the lifetime of the BID without a full alteration ballot.