A government consultation has begun to assess methods of enabling commercial property owners to play an active role in Business Improvement Districts (BIDs).
Mark Prisk wants to bring landlords into the mix
BIDs bring local businesses together to draw up a shared vision for the area, pool funds and oversee a number of schemes to help regenerate town centres. The projects are financed, in whole or part, by a ‘BID levy’ imposed on non-domestic ratepayers in the district.
Under the current legislation, only those responsible for the business rates on a property can formally pay into and have a voice on BIDS, although some landlords contribute on a voluntary basis.
This lack of input from property owners has hampered BIDs in some areas and the government wants to explore ways in which they can be given a direct say in delivering the projects.
Alongside the launch of the consultation, the government has also pledged a £500,000 loan to help establish more BIDs throughout England.
Local Growth Minister Mark Prisk says that the proposals are designed to help high streets thrive and that BIDs have already proved they have a constructive role to play in this.
“That’s why today I’m announcing plans that would bring landlords into the mix, so that anyone with a stake in our high streets has a chance to participate,” he said.
Following the consultation the first BIDs involving property owners will be trialled in London. If these prove successful the scheme will be rolled out to other areas. The consultation closes on September 17th.
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