York BID Business Plan 2021-2026

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THE BID LEVY & FINANCES 1. The levy rate to be paid by each property or hereditament will be fixed at 1% of its rateable value (as per the 2017 Rating List) for the duration of the BID term. The rate remains unchanged from the previous term. 2. Under the Local Government Act 2003 and the Business Improvement District Regulations (England) 2004, the levy is mandatory by law for the full period of the term (not exceeding 5 years) and will be charged annually in advance for each chargeable period from April to March (starting on 1 st April 2021). 3. The BID levy will apply to all eligible hereditaments located within the defined BID area and with a rateable value of over £17,500 (as per the 2017 Rating List). The threshold has changed from £12,500 in the previous term. 4. Businesses in the BID area who are exempt from the levy charge due to their rateable value can apply to become a voluntary levy payer. Details of this scheme will be announced on the launch of the new term. 5. Liability for the full year’s levy falls upon the Non-Domestic Ratepayer for the property on the date of billing (typically the first week of April). If the property is empty on the date of billing, then liability shall fall upon the property owner. 6. No refunds will be made either fully, or in part, in respect of levy amounts paid should there be a change in Non-Domestic Ratepayer during the financial year. Neither the BID Company nor the Council will enter into negotiations between outgoing and incoming levy payers, and all said negotiations to recoup part-year payments must be resolved independently by the individual or company concerned. 7. Non-retail/leisure based businesses with charitable status will pay 50% of the levy that would otherwise apply. Medical practices that are wholly owned by the NHS will be made exempt from any levy charge. 8. Please note, no exemption or discounts will be issued to listed buildings and those who pay discounted business rates are not entitled to a levy discount as well. In light of recent events, a cautious approach has been adopted to providing the indicative budget for the renewed BID term. The table to the right outlines how income will be allocated across the four programme areas. 30 | The BID Levy and Finances
INCOME 2021/22 2022/23 2023/24 2024/25 2025/26 TOTAL £k £k £k £k £k £k Levy income @ 1% 700 795 795 795 795 3,880 Levy collection fee -25 -25 -25 -25 -25 -125 Total Income 675 770 770 770 770 3,755 EXPENDITURE 2021/22 2022/23 2023/24 2024/25 2025/26 TOTAL Appearance 200 200 200 200 200 1,000 Safe 160 160 160 160 160 800 Experience 150 150 150 150 150 750 Business Support 140 140 140 140 140 700 Total Programmes 650 650 650 650 650 3,250 Management 120 120 120 120 120 600 Total Expenditure 770 770 770 770 770 3,850 NET reserves 130 35 35 35 35 35 1. All figures are estimates based on historic and likely future trends. Programme costs may change over the term subject to Board approval. 2. Levy income figures are estimated based on National Non-Domestic Rates listings as of January 2021. A reduced levy collection rate of 85% is estimated for year 1, due to Covid-19. For the following 4 years, it is assumed to return to the typical rate of 97%. 3. As well as revenue generated from the levy, the BID will seek to secure additional funding from sponsorship, voluntary contributions and other sources. 4. Management costs are estimated at 16% of total expenditure. 5. City of York Council will be responsible for collecting the levy, after which all collected funds will be transferred to the BID. It has been agreed that the annual fee for levy collection services will not exceed £25,000. 6. During the first term, the BID adopted a prudent reserves policy that provided flexibility to deliver ad-hoc projects e.g. in response to Covid-19. Some reserves will be carried forward from term 1 to maintain cashflow. 7. NET reserves brought forward from term 1 will be deemed a contingency fund and will bolster finances in light of any future disruption caused by Covid-19 (e.g. shortfall in levy collection). 31
Page 1 and 2: Working together for a stronger Yor
Page 3 and 4: CONTENTS 4 Your BID 6 5 Years of Ac
Page 5 and 6: YOUR TEAM Jo Little Comms & Engagem
Page 7 and 8: 3 successful Restaurant Week events
Page 9 and 10: “ “Together with the support, w
Page 11 and 12: BUSINESS SUPPORT From the outset of
Page 13 and 14: “ “We have worked very closely
Page 15 and 16: OUR 4 PROGRAMMES Based on the succe
Page 17 and 18: STREET CLEANING We will continue to
Page 19 and 20: “ “York BID has formed a unique
Page 21 and 22: YORK CITY OF FESTIVALS The BID will
Page 23 and 24: 4 ACCESSIBLE CITY CENTRE We will co
Page 25 and 26: York Ice Trail 2019, Parliament Str
Page 27 and 28: WHAT YOU COULD LOSE If York BID is
Page 29: 29
Page 33 and 34: ““We’re really pleased with h
Page 35 and 36: PARTNERS We would like to take this

York BID Business Plan 2021-2026

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