Peterborough businesses told to expect first BID bills in April

Hundreds of businesses in Peterborough are being told to expect the first bills for the new Business Improvement District (BID) to drop through their doors in a few months’ time.

Monday, 10th January 2022, 3:30 pm
The BID area.

The message comes as work gets underway to prepare for the BID to make an immediate impact from its official start date on April 1.

The 427 businesses within the designated BID area voted overwhelmingly in October for the creation of a BID for the city centre.

But the vote also means that businesses valued at £15,000 and above pay a levy of 1.5 per cent of their rateable value to the BID to fund its work.

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Mark Broadhead, Gareth Norman and Dave Cramp with the BID Ballot launch

It is expected that the BID will generate £1.8 million over five years for works and events to improve the centre.

Mark Broadhead, the chair of Peterborough Positive, which is co-ordinating the establishment of the BID, said: “We are finalising the bills in time for April. We are also looking for premises for the BID and are considering what form of management structure there should be. That might include the appointment of a BID manager.”

He said: “We are keen to get ahead of the game so the BID can get going immediately in April and we may be in a position to make an announcement on this in early March.”

The billing for the BID will be carried out by Peterborough City Council. BID bills will go out at the same time as business rates bills but both will be separate documents.

Eighty four per cent of businesses in the BID area voted in favour of the BID, which will have four immediate priorities: city centre safety, events, marketing and community.