BID Information
General Meeting:
Wed 21st July 4.30pm
Dressing Room, Corn Exchange
Democratic 5 minutes: address any questions to the Board before the meeting.
What is it costing?
- we decided a levy of just 1% of rateable value
- this means a shop with a rateable value of £5,000 pays just £50 per year extra
- this is the equivalent of less than a cup of coffee per day (96p)
- unlike business rates every penny of BID levy is spent locally on the projects in the BID plan
You get big local improvements that you have helped to choose for minimal cost
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How does it affect me?
If you are a business ratepayer in the town centre area of Dorchester the BID is making a significant difference to your future.
In 2007 an extensive consultation with local businesses was begun. 90% of the 431 businesses in the area were visited either by Project Manager Phil or by members of the Steering Committee. It was from feedback from these visits, voting for projects carried out on this website and feedback from a series of public meetings that the Business Plan voted on in the February 2008 ballot was drawn up.
In the February 2008 ballot...
- more than 50% of businesses balloted had to vote for the BID for it to go ahead
- businesses representing more than 50% of total business rates for the BID area had to vote in favour.
Final figures: businesses voted 81.3% in favour by number of votes and 84% in favour by rateable value from a turnout of 56%.
