FAQs
What is a BID?
A BID is a partnership between a local business community and the local authority to develop projects and services that will benefit the trading environment within the boundary of a clearly defined commercial area.
How is it paid for?
Businesses within the designated BID area pay a levy based on their rateable value. Typically landowers, recognising the benefit to the value of their assets, also contribute. Once established, the BID company may provide services to the local authority and generate income through events.
Why pay more? I already pay my council rates.
The BID will not in any way affect the quality or level of service you receive through your council rates. BIDs allow businesses to choose to have a level of service which goes beyond the baseline services offered by the council, and they also allow the businesses to choose how they want to see their money invested in that area.
Where and when will the first Torbay BID be established?
The first Torbay BID will cover the central Torquay area. The plan is to ballot local business in early 2010 and, if favourable, the BID will begin in April 2010.
I have an apartment in the Central Torquay area. Will my residential rates be affected?
BIDs are an initiative to improve the environment for local businesses and as such, they only affect businesses. Residents will not be asked to pay anything more.
What if I want a BID but the other businesses in my area don’t?
It is necessary that over 50% of businesses in a specific area support a BID in order for it to be implemented. If you feel strongly that a BID could benefit your area, perhaps you could become a Champion for the BID and seek to convince other businesses to vote in favour.
How do I go about expressing my support or reservations for BIDs?
A series of open meetings is being held to encourage local businesses to ask questions and to engage with the process to ensure they have the knowledge to make an informed choicewhen they are asked to participate in the ballot.
If you'd like to make direct contact, you can email us.