Wednesday 31st May, 2023
Colchester Business Improvement District (BID) is seeking another five years to operate in the city centre.
The BID is proposing an increase in the compulsory business charge from 1.5% to 1.75% of the rateable value. The decision to stage the ballot will be made by the City Council Cabinet at the meeting on June 7th.
Expect plenty of back slapping from the LibDem Cabinet and their Labour Centrist cheerleaders. They BLOODY LOVE the Third Way concept of having a BID carry out commercial work that the Council can’t afford to do.
The renewal proposal for the Colchester BID is being led by Our Colchester Limited, who have developed and consulted on the renewal plan.
The Council’s Returning Officer will administer the ballot for non-domestic ratepayers in the BID area.
The Council, as the owner of 13 properties in the BID area, will also have the opportunity to vote in the ballot, along with 456 other businesses in the BID footprint.
Vote early, vote often, Cllr King.
Business Improvement Districts are partnerships led by businesses that provide additional services to local businesses.
A BID charges a levy on all business rate payers in the defined area, which is used to fund projects benefiting businesses in the local area.
Payment of the levy is mandatory, and the Council has the option to take non-payers to court.
The proposal suggests increasing the BID levy from the current 1.5% to 1.75% of the rateable value for all non-domestic properties in the BID area.
The Colchester BID was established in 2018, and a renewal ballot is required every five years.
Assuming the Cabinet approves the ballot request, voting will take place from June 23rd to July 20th, with the announcement of the results set for July 21st.
For the renewal ballot to be successful, it requires a simple majority in both the number of votes cast and the rateable value of the votes cast.
Each business in the BID area is entitled to one vote for each property they occupy or own within the BID’s geographical area.
The renewal business plan claims that the BID aims to deliver a wide range of benefits for businesses in the city centre, focusing on attracting visitors, improving the environment, and strengthening the business community.
It will cost Colchester City Council £13,300 to stage the ballot.
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