Business Improvement District on the horizon for Aberystwyth? Your chance to vote

his February, businesses in Aberystwyth will receive an important ballot paper by post asking them for their support for the introduction of a Business Improvement District (BID) in Aberystwyth.
​The BID aims to improve Aberystwyth as a place to work and visit. The process is being led by a voluntary steering group of business people from Aberystwyth town centre under the banner of Advancing Aberystwyth. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Advancing Aberystwyth is seeking to develop a five year programme of improvements in the town centre by collecting a levy from all eligible businesses. If the BID is established there is the potential to collect just over £700,000 between 2016 and 2021 to invest in a comprehensive programme of improvements. Every effort will be made to match this sum with funding from other sources. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Councillor Gareth Lloyd, Cabinet Member with responsibility for Economic and Community Development Service, said: “Ceredigion County Council supports the development of a BID in Aberystwyth, both as a stakeholder and levy payer contributing to the levy fund. Having a BID company in place, with a five-year funding programme that is run by and on behalf of businesses in the town, will be a great asset.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Councillor Lloyd added: “This is a real chance for businesses to have control over a significant sum of money that they could spend on the issues that are important to them. This will help to establish Aberystwyth as the first choice destination in mid-Wales for retail and leisure.” ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

Advancing Aberystwyth will be funded by a 1.25% levy on the rateable value (RV) of all eligible hereditaments, or business units, within the defined BID boundary if that business has a RV of £6,000 or more. Businesses with a RV below this threshold will be exempt from voting and paying the BID levy. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

If the outcome of the vote in March is a ‘yes’ for a BID in Aberystwyth, Advancing Aberystwyth will form a ‘not for profit’ company which will deliver targeted projects and services that are new, unique and not delivered currently by any other agency or organisation. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

The programme will focus on access and connections such as improving access and availability of parking and installing free Wi-Fi. It will look at marketing and promotion and deliver PR campaigns and build relationships with the local press. It will create a stronger business community by developing business incentives and mentoring schemes, and strengthen relationships by working with local authorities, and existing initiatives to tackle crime. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

All these services will be in addition to those already provided by Ceredigion County Council and Aberystwyth Town Council. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

A version of the BID proposal can be found at www.aberystwythbid.com. The proposal sets out how the BID would enhance the town centre through a variety of projects and services. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​

A ballot of eligible businesses in Aberystwyth will be held from Monday, 15 February 2016 until Monday, 14 March 2016. For more information, email mandy@aberystwythbid.com or call 01970 633 277. ‌​‌​‌​​​‍‌​‌​​‌‌‌‍‌​‌‌​​‌​‍‌​‌‌‌​‌‌‍‌​‌‌‌‌​​