Partner Article

Full steam ahead for Sheffield BID as voting period looms

The campaign to encourage businesses to create a Business Improvement District (BID) in Sheffield city centre is now well underway.

In November 2014 the BID Champions, the team behind Sheffield BID, launched their Proposed Prospectus following a year-long consultation process.

Following feedback the Final Prospectus will be produced for businesses to vote on in the ballot period between 12 February and 12 March 2015.

If a yes vote is returned, the new BID company will be set up by August next year to start delivering some of outlined initiatives.

Sheffield BID would supposedly raise £4 million over 5 years, that is £800k a year, from businesses with a rateable value of £30k and over agreeing to a 1% levy on their business rates.

The money would be used to deliver projects that would further enhance the city centre.

Sheffield BID monies would not be used to replace or subsidise core public sector services.

Should the BID go ahead, Sheffield City Council will not cut core services in the city centre and commit to maintaining those services at the current level for at least 5 years.

BID Champion, professor Vanessa Toulmin, head of engagement and director of National Fairground Archive, University of Sheffield said: “This is all about city vibrancy and about giving the people of Sheffield the city they deserve.

“Sheffield BID covers a range of experiences across retail, for students and socially. This is about the people themselves – this has to be a city for them as well as the visitor.”

BID Champion chair James Prince, managing director of John Lewis in Sheffield said: “For me, the Sheffield BID is an easy sell. It’s a fantastic opportunity to work with businesses across all sectors to make a real positive, lasting difference to our city centre.

“With the progression of the New Retail Quarter and the redevelopment of The Moor, there are going to be some big changes in Sheffield over the coming years and we want to make sure we’re in a position to take advantage of that.”

The Sheffield BID Final Prospectus will be available to download in the New Year from sheffieldbid.com.

This was posted in Bdaily's Members' News section by Clare Burnett .