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How is a BID funded?

A BID is funded by business – tenants and, where agreed, property owners – through a levy calculated on the non-domestic rates valuation. The BID steering group will propose the levy rate in the business plan. The levy contributions could be made by a combination of tenants and property owners or by tenants alone. The levy can also be varied by location, by business size or by business sector. The levy monies raised can only be used for the delivery of the BID business plan. Everyone contributes and everyone benefits.

 

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