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This all goes into a business plan which is voted on by all those who would have to pay. The BID lasts for a maximum of 5 years and must be able to demonstrate how it benefits the businesses that have funded it.
The BID Huntingdon Business Plan is dated 2012 to 2017 and can be found on the Documents Library .
In most cases, a BID would include marketing and promotional activities, increasing safety and security for businesses and customers, and enhancing the customer experience.
The important thing is that the BID is focused on delivering the operational projects as determined by detailed consultation with all businesses in the BID area.
A formal vote then takes place on the agreed projects and services and if the majority vote YES then all businesses and organisations with a rateable value within the BID area have to pay a contribution.
The BID levy is normally paid by the occupiers of a property. If a property is empty the contribution is paid by the landlord.
The BID Huntingdon levy is 1.5% of the rateable value of a premises.
According to the BID legislation in England and Wales the only agency that can collect the BID levy is the local authority. The invoices are sent out by Huntingdonshire District Council annually in the autumn. Once the levy is collected the money is passed to BID Huntingdon, a not for profit company limited by guarantee.
In addition, BIDs can draw in other voluntary funding from businesses within and outside the BID area, grants and ‘in-kind’ contributions to supplement the BID levy.
The BID company is responsible for the delivery of the BID projects and services and is directly responsible to all businesses through a board elected from those businesses that pay the BID levy. In Huntingdon there are 20 Directors on the BID Board.
This is based on a detailed consultation process with businesses. The business plan will include the projects, cost, delivery guarantees, performance indicators and the management structure.
A confidential postal vote is held. All the businesses that would pay the BID levy get a vote. To become a BID a majority of those that vote must be in favour by number and rateable value.
This work was carried out in Huntingdon between January and July 2012. The ballot result was a 46% turnout with an 81% yes vote by number and an 85% yes vote by rateable value of the premises. The threshold for a positive ballot is a result of over 50% for both these of these triggers.
A successful BID then has a mandate for a maximum of five years after which the BID would need to seek a re-ballot.
The BID company can agree to provide additional resources to deliver a higher level of service over and above the baselined/benchmarked level if this is what businesses have identified as a priority. Baseline information has been provided by Cambridgeshire County Council, Huntingdonshire District Council, Huntingdon Town Council and Cambridgeshire Constabulary. All baseline statements can be viewed at the BID Huntingdon offices.
The BID company is answerable to the businesses that pay the BID levy and are required to monitor and inform its members on progress towards the agreed KPIs.
Examples of towns and cities near to Huntingdon include Cambridge, Bedford, Wellingborough, Melton Mowbray, Hitchin, Bury St Edmunds, Ipswich, Norwich, Great Yarmouth and Lincoln.