The York BID is a business-led initiative covering a defined geographical area in the centre of York. The BID was established following a successful ballot of eligible businesses in November 2015 with 76% voting in favour of the proposal (42% turnout). A summary of activities leading up to the ballot is available to download.
What a BID is
A Business Improvement District (BID) is a specific area where businesses work together to invest in services, special projects and events. Each BID lasts for five years, after which businesses are asked to vote again on whether they want to begin another BID term.
How the BID is funded
From April 2016 businesses within the BID area with a rateable value of more that £12,500 pay an extra 1% levy based on rateable value. This will form a single pot of money worth around £800,000 per year. The money will be reinvested back into the city to provide additional services and fund other projects to improve the city centre.
What the BID will invest in
The original BID proposals included areas such as:
- improving the appearance and cleanliness of the city centre
- inward investment
- crime and safety initiatives
- enhancing festivals and events, and developing the evening economy.