Vote YES in June 2021 to keep Cheltenham BID for another 5-year term
Cheltenham Business Improvement District (BID) is a not-for-profit organisation funded by and working for levy paying businesses in the town centre.
In 2016, Cheltenham BID was voted in by businesses to represent and support over 600 levy paying businesses; investing over £2.1million into the town.
Through the partnership created by the BID businesses and using the £420,000 annual levy collected from businesses, the BID has delivered a range of projects and services to support businesses, improve the visitor experience, bring exciting new events to the town and give levy payers a collective voice on town issues.
Now in the fifth year of its first term, the BID is required by legislation to run a renewal ballot to continue.
This ballot will take place in June 2021, and businesses will be required to vote YES if they’d like to see the BID renewed for another five years.
If the ballot is unsuccessful, Cheltenham BID will cease to exist in August 2021.
Wider Investment in the Town – The BID Operating Area Extension
Building on the success of the past five years, and the engagement had with many businesses outside the existing BID area, the BID is pleased to be able to offer the proposition of an extension to our operating area.
Please click here to view our proposed operating area extension.
Businesses occupying a property with a provisional rateable value of £7,500 or more within the proposed new area are being given the opportunity to express their opinion on the extension during this consultation phase with a view to being included in the vote (in June 2021) to keep Cheltenham BID operating for another 5-year term.
If Cheltenham BID is successfully renewed with a majority vote, businesses within the final boundary will be charged an annual levy of 1.25% of their rateable value.
This boundary extension would enable a wider investment across the whole town and give more than 800 organisations access to the BID’s support.
Your BID, Your Views – Cheltenham BID Consultation
Consultation closed at 5 pm on Monday 8th March 2021. Thank you to every business that offered their feedback on what Cheltenham BID has done well, what could have been done better and any new initiatives they would like to see introduced in the town centre.
The feedback will help shape Cheltenham BID’s business plan (2021 – 2026) ahead of the renewal ballot in June 2021.
You can read the BID’s consultation document here.
The Renewal Ballot Timeline – Key Dates
- Consultation launches – 10th February 2021
- Consultation closes – 8th March 2021
- Ballot papers sent to businesses in the post – 3rd June 2021
- Last chance to vote and return ballot paper in the post – 29th June 2021
- Last day of ballot – 1st July 2021
If the ballot is successful, Cheltenham BID’s second 5-year term will begin on 1st August 2021.
If businesses don’t vote to keep Cheltenham BID, the BID company will cease to exist on 31st July 2021. The BID’s projects, services and events will not be carried out.
FAQs – Your Questions Answered
What is a BID?
A BID (Business Improvement District) is a not-for-profit organisation funded by and working for levy paying businesses within a defined area of a town or city centre. There are now over 320 BIDs operating in the UK.
The BID is an independent organisation, working for the collective benefit of businesses in the area. BIDs provide additional services to the area and aren’t to be confused with local authorities who provide statutory services.
Who funds Cheltenham BID?
The BID is funded by businesses occupying a property with a rateable value of £7,500 or more in the BID’s defined operating area in the town centre.
Businesses pay into the BID through an annual levy and these funds are spent on delivering improvements to the town in line with the BID’s business plan. Cheltenham BID collects in excess of £420,000 each year.
Why are you asking businesses for their views?
The BID is a business-led organisation. Funded by businesses and working for businesses, it’s imperative businesses give their feedback to ensure projects are effective and beneficial to businesses in the town.
Ahead of the renewal ballot in June 2021, the BID’s consultation is now open for levy paying businesses to complete before 8th March 2021. The feedback collected will help shape the BID’s business plan for the next 5-year term (2021 – 2026).
Why does the BID have to hold a renewal ballot?
Under BID legislation, all BID’s are required to hold a renewal ballot every 5 years, giving businesses the opportunity to vote if they’d like their town or city to be a Business Improvement District.
What determines if the ballot is a success?
In order for Cheltenham BID to continue operating for another 5-year term the ballot needs to be successful on two counts. 51% of businesses who vote must vote yes. Of the businesses who vote in favour of the BID, their combined rateable value must exceed the combined rateable value of the businesses who vote no.
What happens if businesses vote against the BID?
If businesses do not vote to keep Cheltenham BID, the BID company will cease to exist on 31st July 2021. The BID’s projects, services and events will stop. Cheltenham will lose over £2.1million of investment over the next 5 years.
Who will carry out the BID’s services, projects and events if the BID isn’t renewed?
No one. There is no alternative organisation to Cheltenham BID.
If I vote no in the ballot, do I still have to pay the BID levy?
If the majority of businesses vote in favour of the BID in the renewal ballot in June 2021, all businesses within the defined operating area will be required to pay the annual levy, regardless of whether they voted for or against the BID.
How much do I have to pay?
The BID is proposing to keep the levy multiplier at 1.25% of rateable value (or 1% in managed centres) on businesses occupying a property with a rateable value of £7,500 or higher.
The average annual levy payment is £820, which is less than £16 per week.
What happens if I don’t vote in the BID’s renewal ballot in June 2021?
Businesses do not have to vote in the renewal ballot. However, if businesses do not vote yes to keep the BID, the BID will cease to exist from August 2021.
Is my business in the BID area?
You can view Cheltenham BID’s operating area here, including the proposed area extension.
Why is the BID proposing a change to the BID’s operating area?
Following positive engagement from businesses outside the existing operating area, the BID is proposing an extension to the area to enable wider investment across the whole town and giving an additional 250 businesses access to the BID’s support.
Who governs the BID?
Cheltenham BID is governed by a Board of voluntary Directors, all of whom are levy paying businesses or organisation within the town. The Board is Chaired by Alex Rose (Managing Director of Beards Jewellers). The Board is responsible for the strategic and financial management of the BID. You can view the Board here.
Who delivers the BID’s initiatives?
The BID employs a team who are responsible for the day to day management of the BID and delivery of projects, services and events. View the BID team here.
What has the BID achieved in its first term?
In 2016, businesses told the BID they had five main priorities for its first term, namely events, marketing and promotion, parking and accessibility, public realm improvements and business support.
All of the BID’s initiatives have been developed and delivered to address these key areas of work.
Further information about the BID’s achievements can be found in the consultation document here.
If the ballot is a success, what will the BID deliver in its second term?
The BID will continue to:
- Attract visitors to all parts of the town through exciting events, innovative wayfinding initiatives and strong marketing campaigns
- Represent businesses by giving them a voice on things that matter to them and the future of Cheltenham.
- Support businesses with cost saving projects, free training, recruitment and access to professional advice.
- Improve the town centre through the Tidy Up Cheltenham campaign, partnerships and lobbying.
If you have further questions regarding the BID’s renewal ballot, please do not hesitate to contact us at email@example.com.