About the BID
Advancing Aberystwyth ar y Blaen are a newly formed organisation set up to manage the Business Improvement District for the town. We are a business led organisation dedicated to making Aberystwyth a better place to live, work, and visit.
Our aim is to deliver a programme of projects targeted at improving our trading environment, that are in addition to those already provided by other organisations.
We are managed by a board of directors who give up their time to work as volunteers for the good of the town. If you are interested in becoming a board member, please get in touch.
What is a BID?
A BID is a business-led and funded partnership, where businesses within a defined area invest money together to make the improvements they identify for their trading environment. The money generated is targeted only at the Advancing Aberystwyth programme.
How does the Ballot work?
The BID can only be set up after a successful ballot of businesses in Aberystwyth. On 15th February you will receive a ballot paper by post asking whether you support the formation of the BID. To be successful, the ballot must pass on two majorities:
1. By the number of businesses voting (over 50% of votes cast must vote yes)
2. By the RV (over 50% of the total RV of all votes cast must vote yes)
Is the council contributing?
Yes, both the county and town councils have a number of properties in the town centre and are levy payers.
How is it funded?
Advancing Aberystwyth will be funded by a 1.25% levy on the rateable value (RV) of all hereditaments, or business units, within the defined BID boundary with an RV of £6,000 or more. Businesses with an RV below this threshold will be exempt but can make a voluntary contribution. The levy will be based on the RV as of 1st February 2016 (the date of Notice of Ballot).
If both these conditions are met the BID will be established and the BID levy will become mandatory for all eligible hereditaments within the BID area – this includes those owned by the local authority, town council and other public bodies. The BID will then run for five years when a renewal ballot would be held and businesses take another vote to decide whether the BID continues or not.
How do you ensure services are in addition to those provided by the council?
To ensure that services are additional to what’s already delivered, the BID will have a baseline agreement with the local authority, which details the services they currently deliver.
BID funds are ONLY for projects in addition to those delivered by the local councils and can only be spent to improve the area in which they are raised.
Am I eligible to vote in the BID ballot?
If your business is within the defined BID boundaries (a map of the BID area and has a rateable value above £6,000 you will be eligible to vote and thus pay the BID levy, if the ballot returns a ‘YES’ vote.
How is the levy collected?
The BID is collected on an annual basis and we have commissioned the local authority to collect the levy our behalf as a separate bill. The levy will be fixed for five years based on the RV as of 1st February 2016 (the date of Notice of Ballot). There will be no increase with inflation. Advancing Aberystwyth will be clear and transparent about how it is spending the money. There will be regularly updated information about income and expenditure available to all members of the BID.
Who runs Advancing Aberystwyth?
Advancing Aberystwyth are a private not-for-profit company managed by a board of directors who represent the businesses in Aberystwyth town centre and by theme groups also drawn from local businesses, who meet to oversee specific projects in the programme’s three main strands. There are lots opportunities for businesses to get involved. Simply get in touch for more information.