Business Improvement District Policy
Do you support Council's draft Policy?
A BID is a form of partnership between Council and an entity that represents a specific business community (geographically defined) to fund and carry out an agreed programme that will enhance the business district beyond that undertaken directly by Council. A BID programme may fund things such as additional street enhancements, marketing and promotion, or events.
Having a BID Policy in place provides a framework for groups within a certain business area, to apply for a BID to receive funding (collected as a Targeted Rate from commercial ratepayers within the relevant BID area) to carry out this agreed programme. A proposed BID typically requires 25% initial support for the applicant group to establish a BID entity, then a 25% voter return with 51% of the returned votes in favour of the BID to proceed – with consultation being led by the BID entity or proposer.
This is a guideline only and Council is not bound to approve any BID, nor does the existence of a BID Policy require the local business community to establish a BID. If Council adopts a BID Policy, and if the local business community should successfully apply to establish a BID, then commercial ratepayers within the BID District would need to pay the agreed Targeted Rate, which may be apportioned between those ratepayers on a capital value or flat rate basis (or a hybrid between those options).
Council is not expecting an application to establish a BID immediately, i.e. no new Targeted Rate for a BID is proposed for Year 1 of the 2021-31 Long Term Plan. Subject to a BID application being received, Council may consider the introduction of a BID in future years of the LTP. Comments on the BID Policy are welcome - Have your say in our online submission form.