Newbury launch for Business Improvement District plan

If adopted, the BID is expected to generate £1,060,000 over a five year period

NEWBURY'S proposed Business Improvement District (BID) business plan is scheduled to be launched on Wednesday night (February 1).

In today's (Thursday's) Newbury Weekly News it was incorrectly reported that the launch was held last night. We apologise for any inconvenience.

If a BID is adopted by town centre businesses each business within that district will pay a one per cent levy based on the rateable value of the size of their business, generating an estimated £1,060,000 over a five year period.

The BID's business plan is scheduled to be launched at the offices of the Newbury Weekly News on Wednesday, with Newbury businesses invited to get the first glimpse of the final proposals.

The BID area is expected to be bordered by Western Avenue in the north, Station Road in the south, the A339 in the east and Bartholomew Road north of the railway line in the west.

Businesses outside the BID area can make volunteering contributions to the syndicate, with Newbury Racecourse, Newbury Weekly News and Apple Print already expressing an interest.

Newbury Town Council agreed to fund the BID £2,000 to be used for promotion and marketing at a meeting on Monday night.

Ballot papers are expected to be sent out to all businesses within the BID by March 29 with firms given until 5pm on April 30 to vote.

To attend Wednesday's meeting, contact BID coordinator Caroline Paus on 01635 760309 or via caroline.paus@newburybid.com