Latest News - Colwyn Bid Limited – Bay of Colwyn Business Improvement District
Notice of Termination of Colwyn Bay Business Improvement District (BID) (Word)
Businesses from across the The Bay of Colwyn voted in November 2015 for a BID with a 68% vote in favour by number and 70% vote in favour by Rateable Value.
The Welsh Government identified the Bay of Colwyn as an area that they wished to support in developing a Business Improvement District (BID)
The Colwyn BID includes Rhos on Sea, Colwyn Bay, Old Colwyn and Mochdre and provides an opportunity for businesses to shape the future of the area and build upon recent investments such as Eirias Park, the new beach and the Watersports Centre. The BID is managed by businesses from across the Bay of Colwyn area including the Chamber of Trade and the Town Team supported by the Bay Life Project and a company of BID specialists, Partnerships For Better Business Ltd (pfbb UK).
The BID began operations on 1st April 2016
Colwyn Bid
Please see below the forecast of proposed BID Levy Charges dependent upon S12 (7) of the Colwyn Business Improvement District (BID) Proposal and Business Plan 2016-2021 - which states ‘there will be an annual inflationary increase of all levy charges (including fixed band charges) year on year for the duration of the Business Improvement District. This will be a minimum of 2% increase year on year or the inflation percentage as determined by the Consumer Price Index as at the 1st January of the year of the next billing process, whichever is the greater, rounded to the nearest tenth of a penny. (eg if a levy bill is £180 the inflation applied to this at a level of 2% would be £3.60 per annum). Negative inflation will not apply. Inflation will not apply for the first billing cycle in 2016.’
The Bid Levy is calculated in accordance with the Rateable Value of all current hereditaments as at 1 October, 2015.
| YEAR | BID 101 RV £3,000 - £9,999 | BID 102 RV £10,000 - £14,999 | BID 103 RV £15,000 AND OVER | BID 104 £27,000 |
|---|
| 2016/17 |
£180.00 |
£270.00 |
1.80% |
£486.00 |
| 2017/18 |
£183.60 |
£275.40 |
1.84% |
£495.72 |
| 2018/19 |
£188.56 |
£282.84 |
£1.886 |
£509.10 |
| 2019/20 |
£191.02 |
£286.53 |
1.91% |
£515.74 |
| 2020/21 |
£194.84 |
£292.26 |
1.95% |
£526.05 |