A Business Improvement District (BID) is an arrangement whereby businesses and organisations in a defined location get together, decide what additional improvements they want to make in their area, how they are going to manage and deliver those improvements and what it will cost them.
This all goes into a Business Plan, which is voted on by all those businesses who would have to contribute and pay the BID levy. BIDs cannot replace or substitute statutory services (those covered by your business rates), provided by Councils by law, but can choose to enhance them or add to them. The BID will demonstrate a return on investment over 5 years.
The organisation and management will be set up so that the achievements and benefits are closely monitored and shared with all businesses. In order for a BID to be established a ballot of eligible businesses in the BID area is held.
For the ballot to be successful, conditions must be met.
- Over 50% of businesses that vote must vote in favour of the BID
- Of the businesses that vote those voting yes must represent a greater total rateable value that the ones that vote no. If these conditions are met the BID will be established. The BD levy will be mandatory for all eligible businesses in the BID area.
The RhylBID achieved a yes vote in November 2018.
Rhyl BID is planning for its Annual AGM, which has been delayed due to Covid-19.
It is important for you to sign up as a Rhyl BID member, in order to secure your voting rights, as well as your right to stand for appointment to the Board, should you wish to do so.