The Launch of the New Lancaster BID
18th April 2016
Since the successful re-ballot of Lancaster BID in 2015, Lancaster BID has now launched as a new company, limited by guarantee. The BID renewal, which was secured by a 71 per cent majority and a 68.5 per cent majority by number of voters' means that the plans set out in the "One Million Pound BID" business plan are now coming into fruition.
The new BID will see our BID zone boundaries increased. This means that we have now incorporated new city centre businesses and spaces which were previously on the edge of the BID zone, such as Quay Meadow, Lancaster Castle, The Storey Institute and a section of Lancaster Canal - all considerable assets to Lancaster's growing destination status.
The new BID zone welcomes 30 new hereditaments in locations which were chosen for their strategic value. Together with the current Levy Payers' contributions we will raise over One Million Pounds for Lancaster over the next five years, which will be spent directly on promoting, improving and increasing footfall and consumer spend in the city centre through BID events and BID supported events.
Rachael Wilkinson, Lancaster BID Events & Marketing Manager said: "We are excited for the start of our new five year term. The new company allows us to commit to long term projects and plans which will benefit the city centre. The change of Governance Arrangements, being set up as a new Limited company, will allow us to explore additional funding opportunities; as well as allowing us to concentrate on the existing three main objectives, Promotion, Improvements and Events aimed to increase footfall and consumer spend."
"We have already set into motion some of the objectives we promised to carry out as a new BID company, such as the creation of the new Destination Brochure, increased street cleaning and the introduction of new events in the city centre."
The BID team and Management Board will continue to work on the objectives set out in the business plan, aiming to cater to the business needs of the Levy Payers in the new BID zone.
Back to News Archive