BID scheme would cost district council �56,000

HUNTINGDON’S plans to set up a Business Improvement District (BID) could cost taxpayers at least �11,000 a year.

Huntingdonshire District Council has revealed that its potential bill from the levy – which would provide a pot of money to be spent on improvement schemes in the town centre – would be about �11,320 a year.

Huntingdon Town Partnership is currently campaigning for the setting up of a BID, which would see every business within the town centre, and possibly slightly further afield, charged a compulsory levy that would be based on their business rates. The charge is likely to be 1.5 per cent – but only if the scheme finds favour with businesses which will be asked this summer to vote for or against the setting up of the BID.

HDC has already put �27,000 into the development phase, its overview and scrutiny panel (economic and well-being) will be told tomorrow (Thursday). It adds that if the ballot is successful at a levy of 1.5 per cent, HDC’s would pay approximately �56,600 over a five year period, the maximum life span of a BID. The �27,000 would be offset against HDC’s future levy contributions.

As previously reporter by The Hunts Post, it was hoped that the BID would raise between �200,000 and �250,000 a year to spend on key projects which would be agreed by a team representing businesses involved in the BID. Businesses have already indicated priority areas such as safety and security, marketing and promotion, events, graffiti and gum, central procurement, and car parking.

A business plan would be agreed by May 24 and would be followed by a vote, ending on July 12.

INFORMATION: To find out more visit www.bidhuntingdon.co.uk

Most Read

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter