Thu, 03 Nov 2016
NEWBURY Town Council has voted unanimously in favour of supporting the Newbury Business Improvement District (BID) as it runs for re-election for a second five-year term.
Newbury BID has been responsible for managing the town centre since its formation in 2012 and is now hoping it will secure the votes needed to carry on until 2022.
The BID is a defined area within which businesses are required to pay an additional tax (or levy) in order to fund projects within the district's boundaries
The BID is financed by companies paying the levy, which equates to 1.5 per cent of their ‘rateable value’.
Over the past few weeks, businesses that fall within the BID area have been handed forms asking them to vote on whether they want to see continued support for the BID.
At a meeting on Monday, the deputy leader of the council, Anthony Pick, acknowledged the work the BID has done to promote the growth of business in the town centre over the last four years.
Martha Vickers also praised the BID for the environmental work that it has carried out to improve the appearance of the town.
The town council was impressed by the BID’s work to date and its proposals for its second term, up to 2022. These include marketing and promoting Newbury, working to make the town centre more attractive and supporting businesses.
The leader of the council, David Goff, said “Today (Thursday) is the closing date for eligible businesses to show their support for the BID and we strongly urge those who have not yet cast their votes to do so, by either returning them to West Berkshire Council’s offices or the BID offices at The Broadway in Newbury.
“Make no mistake about it, if the BID is not supported, then most, if not all, of the valuable services provided to Newbury businesses, will cease.”