Stockport_Bid_Summary

meista

Summary of the Proposed

BID arrangements for the

Stockport Town Centre Business

Improvement District.

Vision Stockport, a Community

Interest Company with a passion to make Stockport

a better town for everyone, is promoting the formation

of a Business Improvement District.

Stockport town centre businesses are losing customers to other towns and

shopping areas; we want to reverse this trend. A BID will enable Stockport to

compete with its neighbours and become the key business, shopping and leisure

destination in the region.

Stockport’s biggest transformation for 50 years is starting to take shape, with new

shops, offices and hotels open for business next year. Vision Stockport want to make

sure that the town’s existing businesses benefit from these changes. The best way

to do this is by forming a Business Improvement District, independent of the

Council, run by and for the town centre’s businesses.


BID Proposal

The BID has set these activities out under three priorities:

• Improving the Customer Experience and make the

town centre a better place for customers and

employees;

• Marketing Stockport as a whole, for the benefit of all

its quarters – whether the historic old town or the newer

shopping areas;

• Make it easier to do business, as well as cutting costs

and generating savings.

The BID’s vision is to create a vibrant, sustainable town

centre that everyone can be proud of. The BID will

re-invigorate the town centre, bringing the different

parts of the town together to make it a vibrant and

bustling place. A place businesses want to locate to,

where employees want to work, where shoppers want

to shop and where visitors want to visit and stay and

restore Stockport’s position as a renowned commercial

centre.

The BID will create a single identity and marketing

platform for Stockport. The BID’s website will tell

consumers everything that is going on in the town

centre and become the go-to resource for local

residents, workers and visitors for information on

events, promotions and the many attractions that the

town has to offer. The BID will promote the town centre

to a wider audience to attract new visitors and

businesses to come and locate here.

The BID will coordinate events and connect the

different parts of Stockport with each other to

encourage people to roam more widely across the town

centre and to increase dwell time and expenditure.

It will work with the Police to improve the safety of

customers and reduce crime and anti-social behaviour.

It will hold new events throughout the year, building

upon the town’s historic assets as well as more recent

successes such as ‘Foodie Friday’.

The BID will make the town more attractive to

employers, helping businesses recruit and retain high

quality employees by improving clients’ experience

when they visit and by making the town centre more

vibrant with new opportunities to socialise after work.

The BID wants to grow the visitor and tourism economy

and build on the opening of new hotels by helping to

create an evening and night time economy.

A BID will save businesses money by passing on direct

savings made from bulk buying services at cheaper unit

costs.

A BID will facilitate a business loan fund to encourage

start-ups in empty buildings that will also improve the

town’s appearance. It will work with the Council to

improve the car parking experience.

All of these activities will be in addition to the

services currently provided by Stockport Council and

the Police.

The Stockport Town Centre BID will raise around

£500,000 each year through a mandatory levy on

businesses, based on a BID multiplier of 1.25% of

rateable value (fixed on the 2010 ratings list). The BID

aims to supplement this with additional income from

voluntary property owner contributions and income

from the BID’s activities.

Following a successful ballot, the BID would last from

1 April 2017 to 31 March 2022.

The BID Company

The BID delivery team will be business led, run by and

for businesses within the BID area, through a new BID

Company and will represent all sectors. The BID

Company will be not-for- profit and limited by

guarantee.

The BID Company’s members will include all those

businesses paying the BID levy and voluntary

contributors to the BID. Businesses in the BID area not

liable for the levy but wishing to participate and benefit

from the BID’s services, will be welcomed. They will be

invited to contribute a flat rate of £100 per year,

enabling smaller businesses to be involved.

BID Company accounts will be prepared on an annual

basis and presented at the BID Company AGM, to which

all BID members will be invited. The BID accounts will be

published on the BID’s website to ensure openness and

transparency.

Stockport Town Centre BID will

embrace key stakeholders and

partners in operations including public

sector agencies involved in

delivering services with the BID area

such as Stockport Council, Greater

Manchester Police and Transport for

Greater Manchester.

The BID Area

The BID will cover the town centre, including the Peel

Centre, the old town, Merseyway, Redrock, the bus

station and the A6 as far south as the main Council

buildings and the new developments at the railway

station. The following 63 streets (or part of streets) are

included in the BID area

• Adlington Walk

• Ardern Walk

• Apsley Street

• Astley Street

• Avenue Street

• Brewery Street

• Bridge Street

• Bridge Street Brow

• Bridgefield Street

• Brown Street

• Castle Yard

• Chestergate

• Churchgate

• Coopers Brow

• Daw Bank

• Deanery Way

• Edward Street

• Exchange Street

• Garfield Street

• Grand Central Square

• Great Portwood Street

• Great Underbank

• Harvey Street

• Heaton Lane

• High Bank Side

• High Street

• Hooper Street

• Howard Street

• John Street

• King Street East

• Knightsbridge

• Lawrence Street

• Little Underbank

• Loonies Court

• Lord Street

• Lower Hillgate

• Market Place

• Marsland Street

• Mealhouse Brow

• Mersey Square

• Merseyway

• Millgate

• Norbury Street

• North Place

• Park Street

• Piccadilly

• Princes Street

• Railway Road

• Richard Street

• Royal Oak Yard

• St Marys Way

• St Peters Square

• St Petersgate

• Station Road

• Tiviot Dale

• Vernon Street

• Vernon Walk

• Warren Street

• Wellington Road

• Wellington Road North

• Wellington Road South

• Wellington Street

• Woodman Street


The BID Levy rules

These are the proposed BID levy arrangements:

1. The term of the BID will be a period of five years

from 1 April 2017-31 March 2022.

2. The BID levy will be applied to hereditaments

(rateable properties) with a rateable value of

£10,000 and over.

3. The BID levy will be a fixed rate of 1.25% of the

rateable value for all businesses using the 2010

rating list for the duration of the BID.

4. The BID levy will assume a growth rate for

inflation of 2% applied on 1 April each year, with

the BID Board being able to set a lower level if

inflation remains low.

The BID ballot

The ballot will be carried out by UK-Engage on behalf of

Stockport Council. A formal Notice of Ballot will be issued

by them on 14 September and sent to all levy payers and

to the Secretary of State for Communities and Local

Government.

Ballot papers will be issued by post to the named voter

at the nominated address on Wednesday 28 September.

Businesses will have until 5pm on Thursday 27 October to

return completed ballot papers.

The result of the ballot will be declared by Stockport

Council’s Returning Officer on Friday 28 October. If a

majority of businesses vote in the ballot to support the

BID Proposal then the BID will formally start on 1 April 2017.

5. Properties that come into the rating list during

the BID term will be subject to the BID levy from

the effective date that the property is brought

into the rating list and the rateable value

effective at that time.

6. Where a ratepayer receives mandatory

charitable relief from business rates, 80% relief

from the BID levy will be allowed.

7. Empty properties, excluding listed buildings, will

be liable for the BID levy via the property owner

with no void period or any empty

allowance.

8. Mobile phone equipment, ATMs (cash

machines) and advertising hoardings will be

excluded from the levy.

9. There will be no VAT charged on the BID levy.

There are five hundred businesses who would

be liable for the BID levy and who would be able

to vote in the BID ballot. The chart over the page

shows the number of businesses by sector that

would make up the BID. This includes properties

occupied by the Council who will pay the BID levy

like any other businesses.

Get in touch

For any information about the

proposed BID or the ballot, please visit

www.visionstockport.org or contact us

by email at bid@visionstockport.org or

email our colleague Mike Fairmaner on

Mike.Fairmaner@themeans.co.uk

Information supplied by Stockport Metropolitan Borough Council

More magazines by this user
Similar magazines