Wakefield businesses have joined forces and voted for the establishment of a Business Improvement District (BID) for the City Centre. This could help to transform the area and deliver projects which will create a more enjoyable, vibrant and economically successful City Centre. A Business Improvement District (BID) is a defined geographical area, and the businesses within it opt (via a ballot) to pay an additional amount to provide services that they, as a group of businesses, think would benefit the city. The BID company has a maximum term of five years before businesses are balloted again to ask if they would like the BID to continue.
The four core priorities have been established. The BID's projects will focus around these four themes:
--> Lively and well promoted
--> Smart and attractive
--> Welcoming and accessible
--> A great place to do business
The aim of all BID projects will be to make Wakefield City Centre a better place to visit, shop, relax, work and live. A better city centre means a better trading environment and more prosperity for our city, our businesses and our residents.
levy criteria is set for properties over £12,000 rateable value,
exemptions for certain properties - including empty properties. The levy is 1.25%. Those under a RV of £12,000 would not pay a levy (or
have a vote). For those who do pay, it amounts to just a few pounds
each week in return for some excellent benefits. It has been estimated
that the BID will generate circa
£300,000 p/a and there would be strong emphasis to attract and influence
additional funding to maximise value for money for levy payers.
No - the BID is independent of Wakefield Council. The BID an independent company led by a board from the local
business community. They represent local businesses (large and small)
as well as industry groups, community organisations, culture and the
voluntary sectors from across the city centre. We can no longer rely on the local authority to do everything in our city - we, as businesses, need to take the lead. Plus, as an independent entity, we have the ability to fund our own projects, as well as influence other key projects that are being delivered by organisations like Wakefield Council. The BID also has the opportunity to bid for match funding to levy additional funds and drive the best possible value for levy payers.
In February 2017, Wakefield city centre businesses voted YES to a BID being formed. A BID company is now being created and a board appointed. The board will shortly appoint the BID Project Manager so that delivery of key projects can begin. It's an exciting time for Wakefield City Centre and our businesses.
The board of the new BID company is currently being finalised