BID BALLOT 2016
Open and Fair Elections
A Business Improvement District (BID) is a business-led initiative to invest money into the local economy. A BID is elected on the merits of a business plan by a ballot of eligible businesses in the levy area. The businesses are charged a levy on their rateable value, which is invested directly into the area to support the local economy.
A BID is in place for a maximum period of up to five years, after which it must ballot the businesses for a renewal.
The Wimborne Business Improvement District (BID) was successfully renewed in 2016 and now has a mandate to deliver the Renewal Business Plan. The current BID period ends on 31st March 2021; a renewal ballot will be held at the end of the current BID period to extend this for another five years.
The Wimborne BID will be funded once again by a levy, which equals 1.5% of the rateable value of each of the businesses in the BID area whose business rates are £3,500 or higher. The BID zone remains the same as in the previous Wimborne BID period. The BID will raise approximately £110,000 for each year of the BID period, amounting to £514,000 over the four year and eight month period.
East Dorset District Council, Wimborne Minster Town Council, The Dorset Chamber of Commerce and Industry, Wimborne Minster Chamber of Trade and Commerce and many others have all backed the renewal of the BID.
Chairman of the Wimborne BID, Ian Faulkner said: “The BID has held a number of consultation events, meetings and face-to-face discussions, a ballot launch and presentations with the levy payers, as well as media engagement, to ensure the Wimborne BID plans reflect the needs of the town. Our competitors see Wimborne as a hugely successful town and are looking at their own BIDs, so it is imperative we keep ahead of the competition and implement the next part of the improvement plan for year on year growth.
Most levy payers pay 50p per day to the BID, with 80% paying less than £1 per day. A small price to make Wimborne the envy of other towns in the area".
The project areas for the Wimborne BID are:
Marketing and Advertising
Cleaner, Greener, Safer
Events and Festivals
Riverside Business Park
Cooperation, Collaboration, Cohesion