Keswick is again seeking support to form a BID. BID is the acronym for a Business Improvement District. Through a legal process provided a majority of business rate payers by number and by rateable value vote in favour then the BID becomes established in law. Once established it exists for a five year period and it then has to seek a renewal vote.
Keswick was the first market town in England to be granted BID status and the first five year period ended last year. The vote for renewal was won by number but not by rateable value. As a consequence the present BID is running off its existing commitments. However the enthusiasm of the existing directors is such that a new vote is to be carried out in the New Year.
BIDS is funded by contributions from business ratepayers and would raise about £375000 over its five year life. It is important to note that about half of this is generated by large multiples such as HSBC, NatWest, Barclays, Lloyds, Mountain Warehouse, Fat Face, Boots, Smiths etc.
The monies raised are spent at the discretion of the locally elected board of directors and every activity is intended to improve the quality of the built environment or to improve business and therefore employment and thereby the well - being of all residents in the town. In its first period BIDS supported many projects but notably it helped fund the BIDS Community Car Park in Hospital Field, the Royal Wedding celebrations in Market Square, the Christmas Lights and most recently helped bring the Cairngorm Reindeer to the Victorian Fayre. This latter was a great success bringing additional crowds to this popular event. The charity stalls had a great day with many reporting sales of over £1000 and the retailers reporting "terrific day", "great day" and "well up". So a good proportion of the modest BIDS levy was likely recovered on just this one occasion.
Businesses will shortly be given the BID document and will have plenty of opportunity to comment. Several new faces are putting themselves forward as potential directors and there is an exciting programme of activities being proposed including Diamond Jubilee Celebrations, New Festivals, a Community Project and much more. Plans are also to be proposed by developing Keswick as a "Conference Centre" filling in gaps in seasons if at all possible. Festivals could include Brass Bands, Fishing, Photographic and others. Lookout for further details.
