Business improvement districts
In July 2014 a ballot was held to decide if a Business Improvement District (BID) should be established in Canterbury. The count took place on 18 July and the proposal was approved by the ballot.
The Canterbury Connected BID came into effect on 13 October 2014.
What is a BID?
A BID is a business-led, business-funded partnership which carries out improvements and provides services in a specific geographical area.
BIDs are funded by the businesses that benefit from them and the money can only be spent within the BID area on initiatives that have been agreed in a formal business plan.
Where can a BID be developed?
A BID can be developed in any business location (anywhere there are business rate payers).
A BID can be proposed by any business rate payer, property owner, local authority or other key stakeholder with an interest in the BID area.
Who pays for a BID?
Business rate payers within a BID area pay for the BID through a supplement in their business rates bill.
How does an area become a BID?
BID proposals are voted on by the business 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 led by the local authority.
A successful vote for a BID must meet two tests:
- more than 50 per cent of votes cast must be in favour of the BID; and
- the positive vote must represent more than 50 per cent of the rateable value of the votes cast.
A BIDs mandate is for a maximum of five years. A BID wishing to continue beyond five years must hold another ballot, based on a further proposal.
For more information about the Canterbury Connected BID please see the Canterbury Connected website.