Business Improvement Districts (BIDs) are business-led partnerships that deliver services to local businesses. They are created through a ballot process.
In the 2021 ballot, the Peterborough Positive BID received almost 84% of 'yes' votes. It secured £1.8 million of funding for the city centre over five years from 1 April 2022 to 31 March 2027.
At Peterborough City Council, we are responsible for:
- Collecting the BID levy
- Administering the BID revenue account
This money goes towards operations and funding of the BID.
Business Improvement District (BID) rules
The BID levy is charged on all businesses within the BID area. This is regardless of whether, or how, a business voted in the ballot.
Hereditament - any item of property, such as land, building or rent, that can be inherited.
- The levy rate to be paid by each property or hereditament is to be calculated as 1.5% of its rateable value as at as at the 'chargeable day' (notionally 1 April each year)
- All properties or hereditaments with a rateable value of £15,000 or more will be liable for payment of the levy
- The number of properties or hereditaments liable for the levy is approximately 427
- The levy rate will increase annually in line with the Consumer Price Index (CPI)
- The levy will be charged annually in advance for each chargeable period (April to March each year), starting in April 2022. No refunds will be available on the levy charged. If a rateable value changes (up or down) after the 'chargeable day', the revised levy will be charged as at the next 'chargeable day'
- New hereditaments that come onto the ratings list will be charged as at the next 'chargeable day'
- The maximum amount payable for any one hereditament is capped at £12,000
- The owners of untenanted properties or hereditaments will be liable for payment of the levy
- Occupiers within covered shopping or leisure centres that are subject to a service charge will pay 66.66% of the levy that would otherwise apply
Pay your BID levy
Barclays Bank, Peterborough
Sort code - 20-67-45
Account number - 10572918
Please include your invoice number as the payment reference.
Objectives of the Business Improvement District (BID)
We consulted with city centre business owners to compile Peterborough BID's strategic objectives.
- Develop a city-wide collaborative approach to entertainment and events
- Create high-quality flagship events for all age groups
- Celebrate the city, its heritage, arts, culture and youth
- Drive footfall and add value to events already scheduled across the city
- Create momentum to promote Peterborough as a destination city
- Introduce city brand ambassadors to welcome and support tourists and assist visitors
- Collaborate with the council and police to monitor crime and anti-social behaviour
- Ensure greater effectiveness in identifying, deterring, reporting and taking enforcement action on issues that give rise to public concern about safety, crime and security
Create a robust marketing campaign that:
- Promotes the Peterborough Positive brand across the city and beyond
- Attracts shoppers, tourists and business investment opportunities
Signposting and navigation to:
- Help those new to the city find their way
- Highlight key attractions and areas
Both digital and static signage with the opportunity to create 'city quarters' to build the city's credentials for heritage, culture, retail and hospitality.
A communication piece to build better relationships with providers to understand demand across the city. Take into account seasonal adjustments and events.
You can read the BID Business Plan on the Peterborough Positive website.
Business Rates Team
Telephone: 01733 452 252