A BIT ABOUT US
Bangor First is Bangor's Business Improvement District (BID), working to build a more vibrant city centre by Putting BANGOR FIRST!
In November 2015, businesses in Bangor town centre established a business-led and -funded mechanism known as a Business Improvement District (BID). This BID helps to improve Bangor as a place to work, live and visit by delivering a targeted programme of services.
As a BID we support local incentives and community projects that give people opportunities to learn new skills and showcase their work.
WHAT IS A BID?
A Business Improvement District (BID) is a business-led and funded partnership, where businesses within a defined area invest money together to make the improvements they identify for their trading environment. A BID is formed following consultation and a ballot in which businesses vote on a BID proposal or business plan for the area.
If a ballot is successful, it is then managed and operated by a BID Company – a non-profit company run by and for its members – and is funded through the BID levy, which is a small percentage of a business's rateable value.
The improvements made by a BID are determined by businesses themselves and are additional to services provided by the local authority. They can include core services such as additional cleaning and security, or more wide-ranging projects such as business support, improved infrastructure, visitor services, area branding, promotions and cultural activities.
HOW IS BANGOR FIRST FUNDED – AND WHERE IS IT SPENT?
Bangor First is funded by a 1.50% levy on the rateable value of hereditaments (business units) within the defined BID boundary that have a rateable value of £5,000 or more, as of the notice of ballot date (28th January 2021) for the BID's second term.
Businesses with a rateable value below the threshold are exempt from paying the levy, although they can contribute voluntarily as some have already done in Bangor.
Ratepayers that receive mandatory relief from business rates and are office-based have their BID levy discounted at the same rate. This discount does not apply to business units that receive mandatory relief which are retail.
This levy raises a collective pot of £740,000 that will be invested in the town centre over the BID’s second five-year term.
The BID’s services are above and beyond what the Local Authority and Town Council currently provide for the town centre. To ensure that the services the BID provides are additional to what’s already delivered, the BID has a baseline agreement with the local authorities which details the services they currently deliver.
BID funds are only for projects in addition to those delivered by the local councils and can only be spent to improve the area in which they are raised.
HOW IS THE BID GOVERNED?
Bangor First was established in 2015 after a successful BID ballot, with eligible businesses voting in favour of continuing the BID's work for a second term in March 2021. It is an independent, not-for-profit company. It is a transparent body open to scrutiny from its levy payers and the community in which it operates, with regularly updated information about income and expenditure available to all members of the BID.
Bangor First is led by the private sector – a board of directors who represent a cross-section of businesses in Bangor. A Full-time BID manager delivers the programme, overseen by the board. An evaluation framework is used to measure performance, using data such as crime statistics and footfall figures, visitor and business surveys.
HOW IS THE BID LEVY COLLECTED?
The BID levy is collected on an annual basis. We commission the local authority to collect the levy on our behalf as a separate bill. The levy is amended on an annual basis in line with inflation.
Bangor First is a company limited by guarantee. The BID levy is mandatory for all eligible hereditaments (those with over £5,000 rateable value) within the BID area. This includes those owned by the local authorities and other public bodies.
HOW LONG DOES THE BID LAST?
The BID runs in terms of five years and is currently in its second term beginning 2021, ensuring guaranteed investment in Bangor city centre until 2026. Businesses will vote on whether they would like the BID to continue its work in a renewal ballot in 2026.
HOW DOES THE BID BALLOT WORK?
A BID can only be re-established after a successful ballot vote of eligible businesses in Bangor.
In 2026, all eligible businesses within the BID boundary will receive a ballot paper in the post to vote with. Ballot papers must be returned within a month.
To be re-established, the ballot must pass on two counts: a simple majority of those voting must be in favour and their votes must represent more than 50% of the total rateable value of the properties that voted.
The BID was established in November 2015 following a successful ballot and re-established in a renewal ballot in March 2021, both of which adhered to these same ballot rules.
HOW THE FUNDS WILL BE ALLOCATED
Over our 5 year term, Bangor First will invest over £740,000in the City centre.
Safety & Security
BID Running & Statutory Costs
EXPLANATORY NOTES : Total BID levy assumes a 95% collection rate. a contingency / responsive fund of 5% has been included. Figures are real with no inflation applied. the core cost shown here include: Staff time that is not dedicated to to project delivery, financial management project costs include an allocation for staff resource to ensure the money is used effectively