BID-Sunderland-Business-Plan-FINAL-WEB-VERSION
BID-Sunderland-Business-Plan-FINAL-WEB-VERSION
BID-Sunderland-Business-Plan-FINAL-WEB-VERSION
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<strong>BID</strong> <strong>Sunderland</strong><br />
30<br />
Empire<br />
Theatre<br />
The Levy<br />
1. The levy rate to be paid by each property or<br />
hereditament is to be calculated as 1.5% of its rateable<br />
value as at the ‘chargeable day’ (notionally 1st April<br />
each year).<br />
2. Only properties or hereditaments with a rateable value<br />
of £15,000 or more will be liable for payment of a levy.<br />
3. Listed buildings, whether occupied or unoccupied,<br />
will not be exempted from the levy and will be liable<br />
for the full levy that would, otherwise, apply.<br />
4. The number of properties or hereditaments liable for<br />
the levy is estimated at 454.<br />
5. The levy rate will be increased by the fixed rate of<br />
inflation of 3% per annum.<br />
6. The levy will be charged as one amount annually in<br />
advance, with the chargeable period being April to<br />
March each year. No refunds will be available on the<br />
levy charged.<br />
7. The owners of untenanted properties or hereditaments<br />
will be liable for payment of the levy.<br />
8. Occupiers within the Bridges Shopping Centre who<br />
are already subject to an additional service charge<br />
for management, marketing, security and / or<br />
cleaning services will pay a levy equivalent to 1.25%<br />
of their ratable value. However, income to the <strong>BID</strong><br />
remains the same as the owners of the Bridges are<br />
providing additional funding of 0.25% each year.<br />
This arrangement is in common with shopping<br />
centres in other <strong>BID</strong>s across the country.<br />
9. A rating revaluation is proposed in 2017, but this or<br />
any other revaluation during the term of the <strong>BID</strong> will<br />
be ignored for the purposes of calculating the levy.<br />
Instead, the rateable value from the time of any such<br />
revaluation will be defined as the rateable value within<br />
the current ratings list.<br />
10. The exception to this will be any change of use or a<br />
physical change to a property or hereditament including<br />
inter alia; new construction, merger, subdivision,<br />
extension and refurbishment.<br />
11. If, during the term, the rateable value assigned to<br />
a property or hereditament falls below £15,000 for<br />
whatever reason (either through physical change,<br />
change of use, or revaluation arising from the<br />
adoption of a revised Rating List), the property or<br />
hereditament will be exempt from the levy from the<br />
next chargeable period.<br />
12. If, during the term, a property or hereditament with<br />
a rateable value which had previously been below<br />
£15,000 threshold is assigned a new rateable value<br />
which is above £15,000, the property or hereditament<br />
will not be liable for the levy from the next chargeable<br />
period unless the increase results from a change of<br />
use or physical change, as previously described.<br />
13. <strong>Sunderland</strong> City Council will be responsible for<br />
collection of the levy and will not charge for doing so.<br />
Governance<br />
1. A new not-for-profit Company will be formed to<br />
manage the <strong>BID</strong>.<br />
2. Following a ‘yes’ vote an interim <strong>BID</strong> Steering<br />
Committee will be nominated to represent levy paying<br />
businesses within the <strong>BID</strong> area and such other<br />
businesses and stakeholders as required until the<br />
<strong>BID</strong> becomes formally operational in April 2014. It<br />
is intended that the Chair of this interim Committee<br />
will be Andy Bradley, Centre Director of the Bridges<br />
Shopping Centre to ensure continuity through this<br />
phase from the current <strong>BID</strong> Steering Board. Within<br />
the interim period this Committee shall agree the<br />
procedure for electing the on-going Committee and<br />
suitable rotation policies for membership. Additional<br />
members may be co-opted, as required. Nominated<br />
representatives from the Council (e.g. the relevant<br />
Portfolio Holder, together with a senior council officer<br />
acting as an observer) and the Police will not be<br />
subject to any election process.<br />
3. The team that has been responsible for developing this<br />
<strong>BID</strong> Proposal will be responsible for initial planning and<br />
initial implementation in the interim period from ballot<br />
to March 2014. During this period, the <strong>BID</strong> Steering<br />
Committee will be responsible for the appointment of<br />
the operational delivery team for the <strong>BID</strong>.<br />
4. The Committee shall have the ability to vary service<br />
delivery and expenditure allocation according to<br />
the changing demands of levy payers. However,<br />
any change to the <strong>BID</strong> boundary or to the levy rate<br />
proposals would require an alteration ballot.<br />
5. <strong>Business</strong>es within the <strong>BID</strong> area whose rateable value<br />
is under £15,000, and those outside the area, will be<br />
encouraged to support the work of the <strong>BID</strong> through<br />
a ‘Friends of the <strong>BID</strong>’ scheme.<br />
6. An agreement in principle, subject to a successful<br />
‘yes’ vote has been reached with <strong>Sunderland</strong> City<br />
Council on an Operating Agreement which includes<br />
the Council’s baseline services commitments. A copy<br />
will be found at www.bidsunderland.co.uk.<br />
7. Notice of the intention to hold a ballot was given to<br />
the Secretary of State on 7th March 2013. Notice<br />
of Ballot will be sent to participating businesses<br />
by <strong>Sunderland</strong> City Council within the required<br />
statutory period.<br />
www.bidsunderland.co.uk