| Beales Close Bridge Street Brunel Centre Byron Street Canal Walk Carfax Street Catherine Street Clarence Street College Court College Street Commercial Road Corporation Street Cross Street Davis Place Edgeware Road Edmund Street Faringdon Street |
Farnsby Road Fleet Street Fleming Way Gloucester Street Gordon Road Granville Street Harding Street Havelock Square Havelock Street Henry Street Holbrook Way Islington Street John Street King Street Market Street Milford Street Milton Road |
Morley Street Newbridge Square Princes Street Queen Street Regent Circus Regent Close Regent Street Sandford Street Sheppard Street Station Road Temple Street The Parade Theatre Square Turl Street Victoria Road Villet Street Wellington Street |
A dual majority was achieved. 69% of businesses voted in favour of the proposal whilst this also represented a 54% majority of the rateable value of those voting.
Press release, 2nd February 2007 - Those premises that operate as an internal-only-facing business within a managed shopping environment and that pay an existing service charge (i.e internal-only-facing tenants of the Brunel Shopping Centre) will receive a 25% discount. This will take account of the overlap in services between the BID Company and the Centre Management.
- Those premises with a rateable value below £8,500 as at 1st April for each billing year of the five-year BID Term.
Legislation within the Local Government Finance Act (2003) enables the local authority to issue a bill for the levy. The levy is collected by the billing authority (Swindon Borough Council) and held in a separate account for the exclusive use of the BID.
Non-payment of the BID levy will be vigorously pursued. This will include: the preparation, issuing and serving of summonses; the use of bailiffs; committal action; insolvency action and the Court process. All of these actions may incur additional costs for which the BID payer will be liable.
There will be no adjustments to the BID levy % during the lifetime of the BID. The 2005 valuations will be used until such time as there is a formal re-valuation (proposed 2010) at which time the new valuations will be used.
All new premises and new developments in the BID Area will be subject to the BID levy in accordance with the specifications above. All mergers and divisions of existing premises during the lifetime of the BID will have their levy based upon their revised rateable values.
The BID levy charge for each individual ratepayer is to be calculated by multiplying its rateable value by the BID multiplier and dividing the result by the number of days in the financial year. This will produce a daily charge and will enable part payments to be calculated.
| Rateable Value | Yearly Charge | Monthly Charge | Daily Charge |
| £10,000 | £100 | £8.33 | £0.27 |
| £50,000 | £500 | £41.67 | £1.37 |
| £100,000 | £1,000 | £83.33 | £2.75 |
| £250,000 | £2,500 | £208.33 | £6.85 |
| £500,000 | £5,000 | £416.67 | £13.70 |
A Business Improvement District, or “BID”, is a formal arrangement under which local businesses can control the way in which their trading environment is managed on a daily basis.
Local businesses will agree a business plan comprising projects and services of added-value to those already provided by local statutory agencies. Those services delivered annually by the statutory agencies will be monitored by the BID Company through a mutually agreed Baseline Agreement.
The BID concept was introduced into this country in 2004 through a change in the Local Government Finance Act 2003. It is based, in part, on the models of similar initiatives in the US, Canada, South Africa and Europe.
The longest running is Kingston-upon-Thames, which has been operating since January 2004. All are proving their worth by delivering significant operational advantage to their local areas.
The South West already has two BID companies in Bristol and Plymouth. Reading also has a new BID structure.
The BID concept will implement a fundamental change in the way that the town centre is managed on a day-to-day operational basis.
The BID concept will be funded, in part, by a supplementary levy on your Rateable Value.
Businesses must vote positively for this change for it to become reality.
This new structure would mean a shift in the management responsibility for the BID Area from a service team of Swindon Borough Council to a bespoke company limited by guarantee, (the BID Company), with a Board of Directors comprising representatives of the local business community.
Local authorities cannot take a controlling interest in BID Companies but must work in partnership with them to deliver a successful regeneration of the town centre at an operational level.
All Board members will need to be formally elected on a rotational basis. All businesses in the designated BID Area will become members of the company and will have the right to be nominated for the Board.
The BID Company will have a mandate for five years before it must seek re-affirmation through a second formal ballot.
