During 2016 businesses in Northallerton Town Centre have been exploring the potential of establishing a Business Improvement District (BID). BID's are business led organisations that are funded through applying a levy to all businesses in a defined area based on a percentage of their business rates. Full details of the proposal can be viewed on the BID website here.
In order for a BID to be implemented all businesses that will be affected by the levy must be balloted. The ballot must be won on two counts, there must be a majority of those that vote in support and the aggregate rateable value of those in favour must be greater than 51% of the aggregate rateable value of those that vote.
The Council was asked by the Northallerton Retail Business Forum to hold a bid ballot which was undertaken on our behalf by UKEngage. The notice of result is linked below:
71.23 % of businesses voting were in favour of creating a new BID. 73 businesses voted in the ballot, representing a 37.6 % turnout and the percentage in favour by rateable value was 65.34%.
The BID Steering Group will be making announcements on the steps to establishing the new organisation shortly.
Details will be made available on the bid website here.