One Maidstone pursues a Business Improvement District for the town centre
27 Nov 2017
One Maidstone CIC, the town centre partnership, has confirmed that it will be pursuing a Business Improvement District (BID) project next year – a business led and funded scheme - to help boost the vitality of the town.
A Business Improvement District (or BID as they are commonly known) is a business led and funded scheme. Business pay a small levy that, unlike business rates where central Government determine how they are used, is ring fenced specifically for use in the BID footprint. The levy is usually around 1 – 1.5% of rateable value. Other successful BID areas have seen an increase in footfall, improved staff retention and promotion of their particular area.
One Maidstone employed a professional BID consultant to undertake a feasibility study that was presented to One Maidstone’s BID advisory panel that indicated that a Business Improvement District could potentially bring sufficient income to make a significant positive impact on the town centre.
One Maidstone having engaged in a tendering process to identify a professional company to support the delivery of the project has appointed Central Management Solutions (CMS) for the later stages of the work.”back to list