Penrith Business Improvement District (BID)
Penrith BID history
The proposal to establish a BID for Penrith was formally announced on the 3 December 2013 and came into effect on the 1 April 2013. The total number of votes cast was 170, representing a rateable value of £5,068,400. The votes in favour were 138, representing £4,392,900.
Penrith BID renewal ballot
A ballot will be held on 30 November 2017 on the proposal to renew the Penrith BID for a further five year term from 2018 to 2023. A notice of ballot has been sent out to eligible voters and ballot papers were sent out on Thursday, 2 November. In the case of a lost or spoilt ballot paper, voters should follow the actions in the Notice of Ballot.
On Penrith BID’s website there is a copy of the Penrith BID Proposal and Business Plan for the second term.
Support for the Penrith BID
In 2012, we backed the Penrith BID proposal and voted yes in respect of each of the properties we pay rates for within the BID area. We supported the yes campaign to help convince local businesses of the merits of the proposal which has the potential to raise £500,000 over the next 5 years.
At a full Council meeting on 9 November 2017, Members decided to vote yes to the BID renewal in respect of each of the properties we pay rates for within the BID area. Our Members also agreed to pay a voluntary levy for those Council-owned properties which fall below the threshold of £4,000, to further support Penrith BID in their activities over the next 5 years.