News

One Million Pounds for Lancaster

4th June 2015

The Lancaster BID has launched it's campaign for a new Business Improvement District for Lancaster.  The existing BID draws to a close at the end of March 2016 and later in 2015 we will be approaching businesses in Lancaster and asking them to vote for a new BID.

The new BID will be for a period of five years from April 2016 to March 2021.

The proposed new BID boundary is slightly increased to bring in:

  • Lancaster Castle & Priory
  • Quay Meadow
  • Storey Institute
  • St Leonardsgate Car Parks
  • Canal-side pubs White Cross and Water Witch

The BID levy will ensure the same level of investment for businesses as the current BID:

  • 1.5% of the Rateable Value (RV) of the business
  • Nothing payable if your property has an RV below £10,000
  • Additional income streams will come from Grant applications and Sponsorship arrangements

Promoting Lancaster: The BID will continue to promote Lancaster as a destination both regionally & nationally in partnership with local organisations and continuing to provide meaningful events within the city centre to increase footfall to your businesses

Improving Lancaster: We will concentrate on crime, cleanliness and aesthetics in Lancaster's city centre

Special Projects: Applications will continue to be available for projects that deliver on BID objectives

There will be a change of governance structure for the new BID:

  • Incorporation as a company limited by guarantee
  • Registered with Companies House and bound by those regulations
  • Articles of Association tailored to Lancaster???s needs
  • the Management Committee will assume the role of Company Directors
  • Not For Profit and Social Enterprise organisation offering additional financial benefits
  • VAT registered
Financial accounts managed and checked by external professionals

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