Update on the BID proposals

© Visit Cheltenham
© Visit Cheltenham

Cheltenham Business Partnership, a collaboration between key businesses and the borough council, is proposing to create a Business Improvement District (BID) in Cheltenham. A BID is a business-led and business-funded body set up to improve a defined commercial area and is governed by a board selected from businesses in the BID area. It means businesses have a genuine voice and decide on the improvements they want made in the town centre.

The BID vision
To create a vibrant and prosperous Cheltenham where businesses flourish and visitor numbers increase. Whether you live or work in Cheltenham or are simply visiting, we want to ensure you enjoy our town centre, appreciate how much it has to offer and are keen to return”.

Consultation with businesses

the BID proposals in Cheltenham have been subject to extensive consultation with town centre businesses and stakeholders and this has included:

  • A comprehensive business survey and feasibility study
  • The production and distribution – both in electronic and hard copy format – of BID information newsletters such as this
  • The creation of Cheltenham BID facebook and twitter channels
  • A great number of direct visits to businesses
  • The creation of a Cheltenham BID website.
  • Contact with the head offices and regional managers of national businesses.

The Projects
The projects identified by Cheltenham’s businesses focus on the following strands and details of the specific projects will be contained within the Business Plan following further feedback from businesses.

  1. marketing and Promotion
  2. Parking and accessibility
  3. town Centre events
  4. Public realm improvements
  5. Business support

Next steps

Following over nine months of planning and consultation, we are shortly due to launch the Business Plan for the Cheltenham BID. this will include full details of how the BID will operate and costed proposals for the projects which businesses have told us that they want most for the town. all eligible businesses will have the ability to vote on this Plan and the following timetable will apply from this point:

  • March 2016
    • Businesses will be given formal notice of the BID ballot by post. Ballot papers will be issued to businesses along with a copy of the Business Plan and a reply-paid envelope to use when casting their vote
  • 28th April 2016
    • Ballot Day. all postal votes need to be received by 5pm on this date in order to qualify to be counted

If a majority of the votes cast is in favour of the BID and that majority represents 50% or more of the total rateable value of the businesses casting a vote, then preparations would begin to form the BID, as follows:

  • May-July 2016
    • BID company established. Board of Directors and staff appointed
  • August 2016
    • BID company begins operating

How the performance of the BID would be monitored and assessed

The Cheltenham BID would measure the impact of the projects it carries out and would communicate this back to all BID businesses, including:

  • establishing, measuring and reporting on a package of town centre indicators, to include sales performance, pedestrian footfall and vacant unit levels.
  • organising an annual survey of BID businesses to seek detailed feedback on their perception of the performance of the town and the BID.
  • Producing and distributing an annual report to BID members to track progress and continue to develop activities in line with business feedback.
  • Inviting all BID levy-payers to an AGM to report back to them on operational, project and financial management.

Contact:
To provide any views or comments or to register your support for the proposals, please contact us as follows:

Martin Quantock – BID Project Manager
T: 07900 905236 E: info@cheltenhambid.co.uk

further details on the proposals are available on the Cheltenham Business Partnership website at www.cheltenhambp.org.uk/news
further information on Business Improvement Districts are available from the British BIDs website at www.britishbids.info

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Categories: Uncategorized, Updates