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BID4Leeds ballot given the green light by the council

Leeds city centre firms are set to be balloted in the new year over plans to create a new business development body to help improve and promote the area.

A meeting of Leeds City Council’s executive board has backed the latest proposals to create a Business Improvement District (BID) in the city centre.

The new body named BID4Leeds would be a private sector-led partnership of city centre businesses and landowners through Leeds Chamber of Commerce, supported by public sector organisations including Leeds City Council.

Its aims would be to improve and promote the city centre as a successful business location, a source of job creation, a place to study and as a leading retail, leisure, cultural and visitor destination.

The new body would be funded from a levy paid by all businesses and land occupiers in the identified district, raising up to £2million annually for an initial five-year period.

The levy would be set at 1.25 per cent of rateable value, with an exemption for premises with a rateable value of below £60,000.

The next stage of the BID process is to carry out a ballot of all businesses and landowners in the city centre on the proposals, which is planned to take place in February.

John Bywater, Chairman of BID4Leeds, said: “ I see the BID as an important step for Leeds city centre to create coordinated leadership and to secure investment.

“It is an exciting time for Leeds and it is fantastic to have support from Leeds City Council for our proposed business plan, which will be issued to potential BID businesses in the near future.

“This business plan, if voted for in February, will help create even greater collaboration between the public and private sector in Leeds and a stronger future for our City.”

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