HAVE YOUR SAY
Having a Business Improvement District puts Treorchy in good company. There are now over 200 BIDs across the UK, working successfully to enhance commercial areas for their members.
We’ve answered all the pressing questions you may have, from what we are, how we’re funded and how we work.
Love Treorchy started on 1st April and we are now six months in to the five-year term of the BID. Unfortunately, circumstances have meant that we have not been able to do as much for the town as we would have liked. However, we have been busy planning for the future during our virtual board meetings which have taken place every six weeks. We have also been sending out e-newsletters with the most up to date information from the Government and the Council. If you aren’t receiving these newsletters, please sign up here: https://mailchi.mp/36621325d174/love-treorchy-newsletter
The BID levy bills have just arrived on doorsteps and we are aware that you probably have a lot of questions about what we have been up to. We would love to answer them for you! If you have received a bill, please
submit your question below along with your business name. We will be answering questions by video in the next few weeks. Please help us, help you but getting involved.
What is a BID?
A Business Improvement District is a business-led and funded partnership, where businesses within a defined area invest money together to make the improvements they identify for their trading environment.
A BID is formed following consultation and a ballot in which businesses vote on a BID proposal or business plan for the area. If a ballot is successful, it is then managed and operated by a BID Company – a non-profit company run by and for its members – and is funded through the BID levy.
Love Treorchy’s ballot took place in November 2019 and following its success, the BID company was established and went live on 1st April 2020. The BID will run for five years (2020-2025), when a renewal ballot will be held and businesses take another vote to decide whether the BID continues or not.
How is it funded?
Love Treorchy is funded through a BID levy, a monetary contribution which is a small percentage of a business’ rateable value (RV). The levy will be fixed for five years based on the rateable value of properties as of the 17th October (the date of the notification of ballot) To receive all these many services, this equates to:
| Total Rateable Value | £5,000 | £15,000 |
| Yearly Contribution | £100 | £300 |
| Monthly Contribution | £8.33 | £25 |
| Weekly Contribution | £1.92 | £5.77 |
| Daily Contribution | 14p | 82p |
The money generated is targeted only at the Love Treorchy programme.
Who was eligible to vote in the BID ballot?
If your business is within the defined BID boundaries and has a rateable value above £5,000 you would have been eligible to vote and thus will pay the BID levy.
How did the BID ballot work?
On 31st October, a ballot paper was sent by post asking whether you support the formation of the BID. To be successful, the ballot must pass on two majorities:
- By the number of businesses voting (over 50% of votes cast must vote YES)
- By the total RV (over 50% of the total RV of all votes cast must vote YES).
Both majorities were passed and so Love Treorchy was established and went live on 1st April 2020.
Who pays?
The BID levy is mandatory for all eligible hereditaments within the BID area – this includes those owned by the borough council and other public bodies. If your business is in the BID area and has an RV above £5,000 you will be liable to pay the levy.
How do I find out how much I am liable to pay?
You can calculate your levy by multiplying your RV by 2%. Please feel free contact The means to talk through the business plan and discuss how much you will contribute. Mandy Jenkins can be contacted on 07803 503972 or mandy.jenkins@themeans.co.uk.
Is the council contributing?
Yes, the council has a number of properties in the town centre and will be levy payers, as are other public bodies.
How do you ensure services are in addition to those provided by the council?
To ensure that services will be additional to what is already delivered, Love Treorchy have a baseline agreement with the borough council, which details the services they currently deliver. The baseline agreements include public conveniences, street cleansing, highways maintenance, town centre management, car parks, CCTV and licensing, including taxis, alcohol, street trading and late-night food. BID funds are ONLY for projects in addition to those delivered by the local councils and can only be spent to improve the area in which they are raised.
Who runs Love Treorchy?
Love Treorchy has been established as an independent, not-for-profit company. This will continue to be led by the private sector – by a voluntary board of directors who represent the businesses in Treorchy and by theme groups also drawn from local businesses, who will meet to oversee specific projects in the programme’s four main strands. There will be lots of opportunities for businesses to get involved.
How is Love Treorchy governed?
Love Treorchy is a transparent body with a number of checks and balances in place. This ensures that the company is open to scrutiny from its levy payers and the community in which it operates, to maintain its credibility and reputation. A steering group of committed business representatives has led this process so far. They have developed the key proposals for Love Treorchy and have influenced the programme of improvements we aim to achieve.
A board of representatives will be established with members drawn primarily from those who pay the BID levy. Members will be elected at an AGM, the first of which will be held within the BID’s first year. All businesses that are eligible to vote and that pay the BID levy may become members of the company. Any member can stand for election to the board. The directors of this board must be representative of the town centre and include a cross section of stakeholders from all sectors and sizes.
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Map of the BID area
See where the BID area covers
The Four Strands
Our vision in full
FAQs
Frequently asked questions about the BID