York City Centre Set For £4 Million Boost As BID Proposals Are Voted In

 

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Story by Laura Knowlson in The Press.

York has become the 226th place in the UK to adopt a Business Improvement District after its businesses agreed to pay a levy on their rates for the benefit of the city centre.

York will now have additional resources of £800,000 each year for the next five years to be spent on a number of initiatives aimed at improving the business environment within the city centre.

After a year-long consultation, and a month-long ballot, the results were announced yesterday at Thor’s Tipi Bar, part of the St Nicholas Fair, and revealed a 42 per cent turnout, with 76 per cent voting in favour of establishing a Business Improvement District (BID) for York.

Around 1,070 businesses, with a rateable value of more than £12,500, were balloted, with all now set to pay a levy on their business rates, the equivalent of one per cent of their rateable value, whether they voted or not.

The York BID team will now begin work on setting up the company, recruiting a BID director and preparing to start delivering services from next April, when the first round of money will be collected.

 

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Link to York BID story in The Press

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