BID for Leeds plans hit final stages

Delivery plans for a possible Business Improvement District (BID) for Leeds city centre are in the final consultation stages.

Businesses from all sectors across the city have given their insight into what challenges and issues they are likely to face over the next five years and what they would like to see local investment of up to £10 million focused on if a BID were to be established in their city.

A BID is a business-led partnership that enables coordinated investment in the management and marketing of a commercial area.

Governed by legislation to ensure fairness and transparency, a BID is developed through consultation with the business community and the subsequent development of a five year Business Plan.

This plan is voted on by all those that will be asked to pay the levy.

A comprehensive feasibility phase to establish if there was indeed an appetite for a BID in Leeds ran from September 2013 to February 2014.

This produced a resounding yes. Since then further more in-depth liaison has taken place to establish key needs for business.

John Bywater, the BID4Leeds chairman said: “I see the BID as an important step for Leeds city centre to create coordinated leadership and to secure investment for the future.

“We invite businesses to get involved in the discussion over the coming weeks ahead of being asked to vote in February 2015”.

Prew Lumley, who is a Partner at Squires Patton Boggs is a member of the BID4Leeds Steering Group said: “The city of Leeds has so much potential and I see the BID as a springboard to achieve great things.

“I am supporting this initiative as I believe it will prove to be real value to the city”