A Business Improvement District (BID) is a partnership in which businesses from a defined area elect to make a collective contribution to the development and improvement of their commercial district. The funds from this contribution are used to deliver the plans set out in this document through a dedicated company, in our case Keighleybid.
This is your chance to invest £1million over five years on projects and priorities that matter to your business through a BID in Keighley.
Keighleybid will be dedicated to delivering projects, programmes and services to businesses in Keighley town centre. We’ve spoken to hundreds of businesses and you told us you would like the BID to focus on the following four key priorities:
Marketing and Promotion: £493,700
Increasing footfall by delivering comprehensive and
professionally managed marketing campaigns, an improved online presence and quality events and entertainment.
Safety and Security: £213,500
Promoting Keighley as a safe, secure, friendly town which is inviting to users both existing and new, giving confidence whilst providing the means to ensure people’s safety.
Backing Business: £276,650
Providing the support and initiatives businesses need to thrive, increasing local loyalty, reducing business costs and providing businesses with data and information they need to make trading in Keighley town centre easier.
Ease of Access: £160,150
Create a pleasant, efficient and accessible town centre
environment with improved, welcoming visitor information to give a better experience.
The BID will be run as an independent, not-for-profit company known as Keighleybid. It will be controlled by you, the businesses through a board of directors that represent the various businesses and stakeholders in the town. The company will have a dedicated, full time BID manager to deliver the plan. The development process has, from the start, been led by Keighley businesses.
Keighleybid will be funded by a 1.5% levy on the rateable value of each business unit within the BID area that has a rateable value of £6,000 or more. Businesses below this threshold and any charity receiving 100% business rate reduction will be exempt from paying the levy. Exceptions are those units (legally called hereditaments!) in the Airedale Shopping Centre where additional service rates are already paid. Those that are within the centre will pay a levy of 1%, whilst those with external facing frontages will pay 1.25%. Any business opening within the BID area,or whose rateable value rises above the £6,000 threshold during the five year life of the BID, will pay the levy. These levy rates cannot be amended during the lifetime of the BID.
You decide whether the Business Improvement District should go ahead by voting in the BID ballot.
BID ballot papers will be sent to you by 5th October 2015 and you will have until 12th November 2015 to cast your vote. For the BID ballot to be successful, two conditions must be met:
1. More than 50% of businesses that vote must do so in favour of the BID.
2. Of the businesses that do vote, those in favour must represent more than 50% of the total rateable value of all votes cast.
If both these conditions are met, the BID will be established and the BID levy will be mandatory for everyone in the BID area.
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