TAMWORTH businesses are to be consulted on the creation of a business improvement district (BID) covering the retail areas of the town.
There are more than 200 BIDs in the UK, which work by imposing a levy on businesses within the defined area to create a pot of money to fund projects that are in addition to council services.
Typically that includes marketing, putting on events, as well as improving the look and feel of an area through street furniture and additional street cleaning.
The levy is usually set at between 1-2% of a business’s rateable value.
Rob Holder, chairman of the BID Tamworth steering group and manager of the town’s John Lewis store, said: “This is about businesses from all sectors coming together to decide how we make Tamworth even better.
“The aim of the BID will be to determine how we develop Tamworth as a destination of choice and to get lots of great things happening under the same umbrella.”
The steering group wants to bring together businesses in the town centre and retail parks. An initial feasibility study is now being carried out to gauge business support for the project.
A BID can only be introduced if a majority of rate-paying businesses in the proposed zone vote in favour of it through a formal ballot process. They operate for five year terms and must be supported through a formal ballot again to extend its life.
“The creation of a BID is a great opportunity for Tamworth,” said Cllr Steve Claymore, Tamworth Borough Council’s cabinet member for regeneration.
“The development of a BID will have far-reaching benefits, not just for the town centre, but for the whole borough of Tamworth.”
