Why are BIDs different?
- With compulsory contributions, everyone who benefits from the scheme has to pay.
- With the levy providing an agreed amount for an agreed period (sustained funding) the guaranteed funding makes it easier to fulfill agreed objectives.
- Relevance: The class of non-domestic ratepayers who will be contributing to the BID levy is left to local discretion.
- Affordability: Local discretion also extends to setting the amount of the BID levy which may be different amounts for different types of ratepayer in the local area.
- Versatility: Funding for BIDs will not be restricted to the amount that can be raised
| < Prev | Next > |
|---|