BID's

[Toad]

I am based in Warwick and we are going through the BID's process. It seems to have lots of pro's but I would be interested to hear the experiences of those businesses in Coventry and Rugby who have already accepted BID's and from people in Stratford who are about to vote. Your thoughts would be appreciated.

[Will]

I wasn't actually aware what BIDs was I'm ashamed to say, but I've just found some info about it here:

Business Improvement District

What are the main proposals Toad?

[Toad]

Another useful site is [URL="http://www.ukbids.org"] which lists (and links to) the 90 or so towns that have gone ahead with a BID and the 10 or so that haven't.
Put very simply, it's a scheme, started in 2005, whereby local businesses can put forward ideas for their town that may help to promote business. These cannot be schemes that are otherwise paid for through exisitng taxes.
The ideas will be collated and then a designated area will be asked to vote for or against. If the majority vote is yes they will then pay a small levy through their business tax based on their rateable value. A small shop in Warwick could expect to pay £120-£150 per annum for 5 years. This money is ring-fenced for the project(s) and the government/councils cannot get their clammy hands on it!
At the moment there seems to be a call for a revamped Market Square that could then be better used throughout the year, but ideas are still coming in and we won't know until June what the proposals are and then we vote in September whether to accept or not.
Very interesting ideas are coming from it and all but a few are keeping an open and sensible mind as it progresses.
I hope that answers some of your questions, Will, although I wonder if I should have started this thread on the Warwick and Leamington forum? I was really after some feedback from Coventry and Rugby as to their experiences of it, as both have voted recently.

[Toad]

Lex - It is - it's about to vote.................................