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A Business Improvement District (BID) Levy is payable by ratepayers, in addition to the Business Rates, if they operate a property of a certain type that falls within a BID area. The Council collect this Levy on behalf of an independent company running a programme of additional services over and above that provided by the public sector.
A BID can only operate if the majority of the businesses affected vote in favour of one being put in place.
The Nottingham BID has been in operation since 1 January 2013. This operates in the City centre and includes all commercial premises where goods or services are available to the public. This was previously known as the retail BID which started on 1 January 2011. The current term will end on 31 December 2016 at which time a new term may commence. |