HOW WILL THE BID PROCESS WORK ?

Consultation

The BID process will commence with a period of consultation to identify the key issues affecting business in the town centre and highlight what provision of extra services, projects and improvements are needed to enhance the trading environment.

Baseline Service Agreements

We will be examining the current provision of services in Barnstaple and working with the relevant public authorities and service providers to draw up baseline agreements.  A BID is absolutely not designed to subsidise or replace services that are already covered by contributions to local councils through business rates.

Formulation of BID Business Plan

The projects, initiatives and additional services that come out of the consultation process will form the BID Proposals. These will be formulated into a business plan detailing the cost of these services, their management, administration and promotion.

Voting

Every business in the BID area will vote on the business plan and if the vote is successful the BID will be implemented. To be successful, more than 50% of votes cast must be in favour and the positive vote must represent more than 50% of the rateable value of the votes cast.

Management and Delivery

If the BID is successful, all businesses in the BID area will be liable for the BID levy.  A BID will be managed and delivered through Barnstaple Town Centre Management, shortly to be established as an independent company limited by guarantee.  The interests of all businesses in the BID area paying the levy will be represented through a BID Steering Group, elected by BID levy payers.

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Please let us know what you think of the BID and what it should deliver for Barnstaple