Business in control of business
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Transcript of Business in control of business
Business in control of business
We work hard for our money - together we can make our money work harder for us
www.bid4bury.com
Contents
] Message from Town CentreManagement Group Chairman 3
] Bid4Bury summary 4What is a Business Improvement District (BID)? 6Evolution of the BID concept 6Why does Bury St Edmunds need a Business Improvement District? 7What will a Business Improvement District do for Bury St Edmunds? 8Bid4Bury - designed by business for business 9Bid4Bury aims - safer, cleaner, friendlier, busier and widely known 10
] Bid4Bury projects 121) Professional marketing from a town centre business perspective 122) Further enhancing safety and security 143) Annual Christmas season of festive lights and events 164) Keeping our eyes on the environment 175) Events to bring in the crowds 186) Collective and individual business support 20
] The BID levy liability and collection 22Important considerations 23How much will it cost? 23Voluntary BID contributions 24Financial arrangements 24BID management 24The BID ballot 25Commencement and duration of the BID 26Alteration of BID arrangements 27Key Performance Indicators (KPIs) 28
] Map 29
www.bid4bury.com E-mail: [email protected]
Town Centre Management Chairman
Bid4Bury is your opportunity to put Bury St Edmunds town centre businesses incontrol of a fund that can be used to raise the town's profile, increase footfall, andimprove further its security and cleanliness. These are all issues which businesses havetold us are vitally important for the town's future prosperity.
After listening to retailers, property owners and stakeholders about what is important to us all, I am delighted to introduce thisBusiness Plan and Proposals Statement for a Bury St Edmunds Business Improvement District (BID). I am convinced that theseproposals represent an extremely valuable investment in the town centre's future trading environment.
Setting up a BID (which we are calling Bid4Bury) will allow us to build on successes enjoyed over recent years. The funding willbe used to tackle the issues that businesses in the town have decided are the most important for the future success of individualenterprises and the town as a whole.
This does not mean existing public services will be replaced - your money will only be used to ensure additional services inthose areas identified as vital in increasing footfall. A Bury St Edmunds BID means we will be in a strong position to ensure thatour town community is ready to face the continuing national and international challenges, as well as the more local threats ofincreased competition from other town and city centres.
I would like to thank present members of the Town Centre Management Board and members for their support and help inachieving the goals we have achieved to date. They have given us strong foundations on which we can build future successthrough Bid4Bury.
Now it's up to you whether you want to put businesses in control of business in Bury St Edmunds town centre. We have hadwide support for this BID proposal from independent traders as well as national chains who recognise the benefits it will bringto the town centre. We all now have the opportunity to act together, making our money work harder in order to attract newideas, investment and enhance business profitability.
We know our own business, our own customers and our own town. The bottom line is that Bid4Bury will help us to benefit allthree so I strongly urge you to consider carefully this Business Plan and vote 'Yes' in the November 2009 ballot.
www.bid4bury.com E-mail: [email protected]
Message from Christine Harrod,
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Christine Harrod
Bid4Bury summary
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Legislation for Business Improvement Districts wasintroduced in the UK in 2004 following success inother countries where they have strengthened andrevitalised town centres. There are currently 93Business Improvement Districts in the UK.
We need a Bury St Edmunds BID in thetown centre because: l it is vital if we are to build on the successes achieved for
the town by delivering the additional services the businesscommunity has said are most important;
l footfall will increase and so will opportunities to increase trade;
l unlike business rates which are directed straight to central Government, all the money raised from Bid4Bury stays within the BID area and the certainty of funding over the next five years brings stability;
l for the price of a bauble or bulb we can have streets blazing with Christmas lights and a greatly-enhanced festive season, with crowd-pulling events;
l there will be guaranteed funding for projects such as a professional marketing strategy for the town as a whole, and creating an even safer and cleaner environment;
l it promotes a greater sense of community and reduces business vulnerability to crime;
l projects will be additional to any services already delivered by public sector or other agencies;
l it will further improve perceptions of the town centre and bring about tangible improvements as outlined in this Business Plan.
l is funded by an annual levy on each individually rated unit within the BID area with a rateable value of £10,000 or more. The levy amount will be 1.75% of the Rateable Value (RV) and will be payable by all those with an RV above £10,000 based on 2005 valuations;
l replaces Town Centre Management subscriptions -present contributors to TCM will not pay twice.
To assist and protect the smallest independent businesses within our town centre, all retail and service businesses with a rateable value of below£10,000 will be exempt from the levy.
A Bury St Edmunds BID will only be set upif the majority of businesses vote for it in aballot. The BID:
l will be set up if a ballot of all businesses with a rateable value of £10,000 and over in November 2009 is successful;
l requires a majority of businesses to vote in favour, both by number and rateable value of those that vote;
l would start to operate in April 2010 (if the vote is positive) and last for five years;
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A BID is based on a precisely defined geographical areawithin which the majority of businesses have voted toinvest collectively in local improvements to enhancetheir trading environment and attract more business.
Business rate payers decide which new or expanded servicesare required to improve their trading area, funded through asupplement based on the business’s rateable value. All themoney raised is spent within the defined BID Area.
All Bury St Edmunds BID services will be additional to thoseprovided by St Edmundsbury Borough Council, Suffolk CountyCouncil and Suffolk Police.
Evolution of the BID concept
BIDs have been successfully run in the United States, Canada,South Africa and Australia for many years and have been creditedwith reversing the decline of many town and city centres.
In January 2004, the Government, following years ofpressure from the Association of Town CentreManagement introduced BID pilot schemes across 22towns and cities to trial and establish models of bestpractice. Following the success of the pilot scheme,legislation was set in place for other areas to establishthe setting up of a BID area - currently there are 93BIDs operational in the UK.
What is a Business Improvement District (BID)?
Why does Bury St Edmunds need a BusinessImprovement District?
Bury St Edmunds is already a vibrant and successfulEast Anglian centre for business with a catchment areaof 120,000 people and up to 2 million visitors a year.
Bury St Edmunds has had a Town Centre Management (TCM)scheme since 1996, becoming an independent organisationin 2006. It represents town centre communities and is recognised as one of the most successful in East Anglia.
TCM provides support which has helped to improve the environment and community for residents, businesses, shoppers and visitors alike. It has also developed new
initiatives and worked in partnership with other stakeholdersto initiate and sustain a number of projects to improve thevitality and viability of Bury St Edmunds town centre, butalways under the constraints of limited funding which has tocompete with many other priorities.
A BID provides a mechanism, led by business, that enablespublic, private and voluntary sectors to work togethertowards a common goal of achieving our customers' desiresto improve our trading area and make us stand out as anexciting and vibrant town. The way Bid4Bury would be fundedprovides stability for five years which will help to support thelong-term sustainability of Bury St Edmunds town centre bybuilding on our successes so far. And most importantly, a BIDensures that money raised locally from business is spent locally by business to add extra value to investments alreadybeing made in the town centre.
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What will a Business Improvement District do for Bury St Edmunds?
A successful BID will provide for a number of additional services to improve the trading environment of the town centre.
The BID will:
l improve visitor experience;
l attract more shoppers;
l increase footfall;
l improve the management of public spaces;
l create a safer and cleaner environment;
l promote community safety;
l reduce business vulnerability to crime;
l ensure better promotion and publicity of events;
l ens ure that the public and private interests are brought together.
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Bid4Bury - designed by business for business
The existing services provided by TCM have evolved at the request of retailers and businessowners, and its purpose reflects the needs identified by businesses, either individuallyor collectively.
The additional services which the BID will bring have beenidentified through TCM members' forums, questionnairesand face-to-face meetings with retailers, following the consultation campaign last year. For example:
l 75 per cent of respondents want improved Christmas lights and events throughout the town for the Christmas season;
l 74 per cent of questionnaire respondents deemed renewing Bury St Edmunds' Street Rangers the most important aspect of our town's safety and security;
l 56 per cent of respondents believed a professional marketing strategy from a business aspect was the most important requirement to assist business within our town centre;
All of these are top priorities in our BID, which willnot only boost footfall in the area, but also makeBury St Edmunds a better, brighter and safer placefor business and customers alike.
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Bid4Bury aims - safer, cleaner, friendlier, busier and widely known
The BID will build on the success of Town CentreManagement by allowing for additional resources,funding and longer term strategic planning to delivermajor sustainable improvements to the trading environment. These improvements will benefit allbusinesses in Bury St Edmunds that are dependantupon a healthy, vibrant and attractive town centre.
Businesses will benefit from a professional and clearly definedmarketing strategy put together by businesses. There will alsobe a renewed and expanded Town Centre Street Rangerscheme, the SIRCS crime reduction management scheme andthe opportunity to take part in a new digital ShopSafe radio
system linked to CCTV for Bury St Edmunds. All businessescontributing to the BID will have direct access to allthese services.
Additionally, the BID seeks to launch a completely new andvigorous Christmas season campaign with year-on-yearimprovements to the Christmas street lights scene to encourage more visitors in to the town centre during thiscrucial trading period of the year.
The BID will also seek to improve opportunities forretailers, cafés, restaurants, pubs and services by holding a series of events aimed at attracting moreshoppers so they can appreciate the quality that is on offer in the town centre.
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Bid4Bury will bring together all thoseagencies with a keen interest in Bury StEdmunds town centre. Businesses leading- and benefiting from - projects andactivities which have such a big impacton the town is simply a commonsenseand businesslike way forward in an agewhen we all have to makeour money work harder.Cllr John Griffiths, Leader of St Edmundsbury Borough Council
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1) Professional marketing from a town centre business perspective
Bury St Edmunds, the jewel in Suffolk's crown, has a tremendous amount to offershoppers, tourists and other visitors, but it is in competition with many otherattractive towns throughout East Anglia. We have a large number of unique, high quality independent tradersthroughout the town, supplemented by a widening range of nationally-known stores. Our history - visible onevery street - along with the magnificent Abbey Gardens and other attractions, our reputation for floralexcellence and café culture, all add to the town centre offer. A professional marketing strategy, focusing on thehigh quality and diverse range of retailers, services and businesses in the town centre will help to make Burystand out from the crowd.
It is proposed to spend some of the funding raisedby businesses within the BID over the next five yearsto develop professional marketing for Bury StEdmunds, highlighting the unique offer found in BurySt Edmunds town centre from a business perspective.The marketing strategy will include a number ofactions to market Bury St Edmunds as a majorshopping and destination centre, emphasising theniche markets in which many of our town centrebusinesses excel. Specialist target marketing andpromotion will highlight the quality and array ofbusiness within our unique town centre and provide:
l enhanced marketing for retail and business;
l local, regional and destination specific targetmarketing projects;
l niche marketing campaigns;
l website links;
l information literature for the town, retail, business, wine and dine, and night time economy.
Bid4Bury projects
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We all need to promote and market our businessesbut most of us have limited funds for our ownmarketing. Money from the BID levy will create amuch bigger fund for marketing which will be ofcollective benefit.
We work hard for our money - together we canmake our money work harder for us.
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A strong marketingcampaign will give
Bury the opportunity toreally sell itself in a muchwider marketplace. Bury hasa unique feel to it andif we want to sellourselves beyondBury then we haveto be proactiveso we makeourselvesstand out.Ron Blackmore,Proprietor, The Fox Inn,Eastgate Street
There is no doubt that, compared to many other towns, Bury St Edmunds isa safe place in which to shop, live or run a business. The ShopSafe radio link,CCTV, street rangers, shared intelligence, and civil recovery have all played a significant role in reducing crime and anti-social behaviour in the town centre. These are all partof TCM partnership working with Suffolk Police's town centre Safer Neighbourhood Team, St EdmundsburyBorough Council, Suffolk County Council and the Chamber of Commerce.
Funding from the BID will sustain and expand on the street warden, ShopSafe, Shopwatch and shared intelligence services whichmake the most of new technology. This will enable the wider business community to join forces to combat effectively crime andanti-social behaviour through sharing information using radios, new information technology and possibly an exclusion noticescheme, specifically targeting the most prolific and persistent offenders. The ultimate objective is to promote a wholly safe environment in which people can live, shop and work. Here are more specific details.
2) Further enhancing safety and security
Street rangers
a) Full-time town centre street rangers will deliver a uniformed presence to the BID area for a minimum of six days a week, extended to seven days a week during peak trading periods.
b) All BID members will have direct access to the street rangers if they choose to take part in the ShopSafe radio scheme. A radio will be required to participate.
c) The street rangers will have a role as guardians of the town centre environment by inspecting and reporting environmental issues such as damaged street furniture and graffiti which will help to get a speedy clean-up and repair by the responsible agency.
d) The street rangers will also be friendly faces and a visible presence to visitors to our town, giving informed tourism and retail placement advice to all, enhancing the friendly and approachable atmosphere within our town centre streets.
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CCTV
a) BID members will have direct contact with the CCTV control room if they choose to participate in the ShopSafe radio scheme.
b) Bid4Bury will investigate all opportunities, together with the relevant authorities, to further enhance the CCTV scheme to increase its effectiveness in reducing crime andreassuring town centre users.
ShopSafe
The BID funding will allow for all businesses contributing to the BID to become members of the ShopSafe CrimeReduction Scheme, incorporating the SIRCS online crimereduction programme and Shared Intelligence. We will alsoinvestigate setting up a new Exclusion Notice scheme.
NightSure
Bid4Bury will also give the opportunity for the ShopSafe radiolink to be further extended to pubs, clubs and restaurantswithin the BID area, therefore enhancing the safety and security of the night-time economy.
Community
Although there is a wide range of retailers and other businesses in Bury St Edmunds town centre, we all share acommunity of interest when it comes to the safety of ourcustomers and staff and security for our business. Bid4Burywill work closely with all relevant agencies to make sure thisbusiness community of interest is recognised, listened to andinvolved in safety and security issues.
Safety
Bid4Bury will actively promote crime reduction and community safety, and will represent business on the PoliceSNT Tasking group.
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l A full late night Christmas shopping campaign will run throughout the build-upto Christmas. We aim to place Bury St Edmunds as afirm favourite for Christmas shoppers through providing strong promotion and the best attractions (with street entertainment for each late night shopping event) by usingan advertised programme of events and creating a welcoming seasonal atmosphere.
l Bid4Bury funding not only secures the future of the current Christmas lights but also, over the five-year term of the BID, will dramatically improve them to give an exciting co-ordinated lights scheme creating a fabulous Christmas atmosphere.
l A major switch-on event will not only gain footfall throughout the town, but will also be the publicity vehicle to launch the start of the Bury St Edmunds Christmas season.
3) Annual Christmas season of festivelights and events
Christmas is an invaluable time for most businesseswithin our town centre. For many of us, as much as30% of our annual business comes from this time ofyear. Every year, like many other towns, there are difficulties and uncertainties about the number, andquality, of Christmas lights in Bury St Edmunds towncentre. And the uncertainty of scraping together thefunding to achieve a festive glow often results in negative publicity for the town.
Bury St Edmunds has an enviable reputation for the summermonths with our award-winning Bury in Bloom campaignwhich gain us local, regional and national recognition. We wantthe same enviable reputation for the Bury St EdmundsChristmas season. This is what Bid4Bury aims to achieve.
For the cost of your weekly BID levy you canbuy a Christmas bauble or two, but put thecost of all those baubles together and we canmake the town shine brightly throughout thewhole season with greatly enhancedChristmas lights and a programme of eventsto bring in the crowds. One bauble or Bury ablaze - it's your choice. Steve Peters, Town Centre Manager, Bury St Edmunds
3) Annual Christmas season of festive lights and events
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Apart from the street rangers there will also be another uniformed presence on the streets,which all helps to add to a feeling of safety for our town centre users. Bid4Bury will employa full-time environment warden whose job will be two-fold - to tackle some problemsimmediately and to report others to responsible agencies.
The environment warden will have the equipment necessary to deal with simple graffiti removal or grotspots, for example, and help clear up after events. The warden will also have a regular programme of gum-bustingto keep the town's historic streets clear of this unsightly mess. And the warden will be able to report problemswhich need more detailed attention to those agencies responsible for them, which will lead to faster responses.
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4) Keeping our eyes on the environment
5) Events to bring in the crowds
Bury St Edmunds town centre already has a lot tooffer residents and visitors but special events help tobring in those who may not have visited the townbefore. If they have a great time at one of theseevents they will be tempted to come back again -and again. Give people who attend these events aterrific experience and it's guaranteed they willspread the word that Bury's a special place.
There are already a number of special events throughout theyear, such as the Bury Festival, Flower and Continental Marketand Christmas Fayre. Some events focus on specific areas,such as Angel Hill, or entertainment locations like the CornExchange. Bid4Bury will build on these known events toincrease footfall into the town centre, no matter where theevents are held. And extra events will also be organised, givingbusinesses opportunities to showcase their wares and services, such as a designated Food Festival plus extra, andmore professional, crowd-pulling events for the Christmasbuild-up.
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Chewing gum can makeour lovely streets looka mess. For the priceof a few packs ofchewing gum a weekwe can tackle theproblem togetherand present a muchbetter face toour customers.
Paul Haynes, arc Centre Manager,Bury St Edmunds
There is a terrificevents base to build
on and I believe that Bid4Burywill give us the opportunity,and funding, to expand onthis. It's practically impossiblefor one business alone toarrange a successful crowd-pulling entertainment orevent, but working togetherwe can make Bury StEdmunds an even more exciting place to visit. Brian Cooper, Manager, Waitrose, Bury St Edmunds
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Currently Bury's Town Centre Management advisesand supports business, both individually and collectively and Bid4Bury will continue this role. As the representative of every BID member, it willalso be an effective lobbyist and campaigner whenworking and negotiating with local authorities andother organisations on town centre issues. Listed here is some of TCM's current work, all of which will continue if the Bury St Edmunds BID is established.
Inward investment initiatives: TCM's investment campaigntakes a proactive approach to attracting new investment intothe town centre. Information is managed collectively and isspecifically targeted at potential investors and commercialagents. The more investment and business in the town centre,more improved are the opportunities for all businesses.
Property database: A thorough database containing all vacantand occupied properties has been created. It is maintained tolet you know about any new developments and vacancies first.
Market research: TCMcarries out both formaland informal research on aregular basis which Bid4Burywill allow us to develop further.Retail surveys will be carried out frequently withdifferent areas or sectors polled throughout theBID area, as will visitors to the town.
Footfall monitoring: BID contributors will receive regularreports on footfall figures generated around the town centrethat will allow businesses to make informed decisions on theirown business plans.
All of these additional services would be under threat if theBID does not go ahead. This uncertainty could create a loss ofconfidence on the part of businesses and shoppers alike.
Bid4Bury will remove this uncertainty by guaranteeinga level of funding which will help the Bury St Edmundsbusiness community to improve its position in thefuture development of our town centre.
6) Collective and individual business support
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Existing services
Bury St Edmunds BID projects and services will beadditional to those services already delivered by StEdmundsbury Borough Council, Suffolk CountyCouncil and Suffolk Police. Bid4Bury will also regularlyreview, with the existing public sector serviceproviders, services delivered within the BID area.Once the BID has been established St EdmundsburyBorough Council, Suffolk County Council and SuffolkPolice will maintain the current standards of performance for all their existing services such asthese listed here.
Safetyl CCTV l Policingl Community safety and management l Licensing and enforcement l Street lighting
Cleanlinessl Street cleansing (including bin emptying/washing)l Waste collection l Public conveniences l Removing fly posting, and so on
Other servicesl Car parkingl Environmental healthl Marketl Transport and transport informationl Development control
Maintenance l Trees and landscaping l Grounds maintenance (including weed spraying)l Highways maintenance
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A BID levy of 1.75% of rateable value will be charged on all rateable properties(hereditaments) within the BID area (see map on page 29) and which are listedin the 2005 Local Non-Domestic Rating List and any subsequent Non-DomesticRating Lists, other than those listed below.
The following types of business within the BID area will be exempt:
l those with a rateable value of less than £10,000 a year; l registered retail and non-retail charity outlets.
Bid4Bury proposed income and expenditure
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5BID income 352,000 352,000 352,000 352,000 352,000Income from events 5,000 10,000 15,000 15,000 15,000Other Income 5,000 20,000 20,000 20,000 20,000Total Income 362,000 382,000 387,000 387,000 387,000
Expenditure (inc proportionate costs)Marketing 120,000 126,000 128,000 125,000 125,000Safety and security 110,000 113,000 115,000 117,000 119,000Christmas festivities 75,500 75,500 75,500 75,500 75,500Other events 30,000 30,000 30,000 30,000 30,000Cleanliness and environment 20,500 22,500 23,500 24,500 25,500Contingencies 6,000 15,000 15,000 15,000 12,000Total expenditure 362,000 382,000 387,000 387,000 387,000
The BID levy liability and collection
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Important considerations
l There will be no annual inflationary increase for the five-year business plan so you can plan for the future.
l The levy is based and charged on the 2005 RV for existingbusinesses, for the full five-year duration of the BID.
l Any property with a rateable value which goes above the £10,000 threshold upon any review will NOT become liable for the levy during the five-year period of the BID - the 2005 values will still apply.
l New premises will pay a levy based on the rateable value at the time of the annual listing (that is, 2010rateable values).
l Levies where a property is split, extended or merged will be based on the rateable value at the time of the change, (that is, 2010 rateable values).
l The levy will be payable annually.
How much will it cost?
Business rate payers with rateable values of below £10,000will be exempt from the levy, although still receive the fullbenefits of BID projects, such as marketing the town and thestreet rangers. Businesses with a rateable value of £10,000 ormore will contribute to Bid4Bury if the ballot is in favour ofsetting up a BID. Two-thirds of the businesses would pay lessthan £10 per week for all the benefits Bid4Bury would bringto the town centre.
Property RV Annual cost Weekly cost£10,000 £175 £3.36£20,000 £350 £6.73£30,000 £525 £10.09£40,000 £700 £11.54£50,000 £875 £16.83£60,000 £1,050 £20.19£80,000 £1,400 £26.92
£100,000 £1,750 £33.65£150,000 £2,625 £50.48£200,000 £3,500 £67.30£250,000 £4,375 £84.13£300,000 £5,250 £100.96
£333,333+ £5,833 £112.18
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Financial arrangements
As set out in the legislation covering BIDs, StEdmundsbury Borough Council will collect the 1.75%levy and pass it over to the BID operating company.
The BID operating company will work to the approvedBusiness Plan and monitor expenditure and cash flow.Management accounts with a supporting commentary will beprepared and will be available to Board Members, BID contributors and St Edmundsbury Borough Council. Externalaccountants will oversee the production of annual accountsand will conduct an independent audit of the accounts.
BID management
The Bury St Edmunds Business Improvement Districtwill be managed by a new BID company, with a business-focused board of directors. The new BIDcompany will be directly accountable to businessesfor the management of the town centre additionalservices, the co-ordination of all the bodies involvedand the successful delivery of the BID.
The BID company will establish a board of directors who willhave responsibility for all the BID projects, town centre management, liaison with stakeholders, setting and measurement of performance targets and involvement in allmatters of importance to Bury St Edmunds town centre.
The BID company will also negotiate Service LevelAgreements with those who currently provide services in the town centre, which will set out exactlywhat each agency is responsible for and the improvements expected.
Voluntary BID contributions
Property owners or businesses with a rateable valueof less than £10,000 and businesses located outsideof the BID area will be invited to contribute voluntarily to the BID and benefit from projects,activities and services that Bid4Bury will deliver.
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To be valid, the ballot will have to meet two tests:
1. a simple majority (above 50 per cent) of those voting must vote in favour; and
2. those voting in favour mustrepresent a majority of the aggregate rateable value of the hereditaments voting.
The ballot will be a postal vote and ballot papers willbe forwarded to those ratepayers eligible to vote, andmust be returned by 3pm on 30 November 2009.
The BID ballot
If you are the person(s), registered company ororganisation, who is the ratepayer for non-domesticrates of a rating hereditament (that is, a premisesliable for business rates) within the BID area (and not exempt as of 30 September 2009) you, or your appointed proxy, are entitled to vote.
Each person entitled to vote in the BID ballot may vote oncefor each hereditament that is shown in the National NonDomestic Rating list, and that has a rateable value of £10,000or more.
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Commencement and duration of the BID
A postal ballot of business ratepayers in the BID area,based on a list of non-domestic ratepayers with arateable value of £10,000 or more a year, will takeplace between 2 November and 30 November 2009.
The result of the ballot will be announced on Tuesday, 1December 2009, by the returning officer. If the BID proposal isapproved it will operate for five years, from April 2010 untilMarch 2015. At or before the end of this period, the Boardmay seek renewal of the BID mandate.
This idea is simply brilliant for Bury. We contribute to Town CentreManagement already, so for us it's a naturalmove over to Bid4Bury. I would encouragepeople to vote yes in the ballot because ofthe tremendous benefits this will give usall, especially the boost to safety and security. Street rangers, for example, willcreate a friendlier and safer atmosphere inthe town centre, which obviously helps every single business.Chrissy Harrod,Manager of Cornhill Walk Shopping Centre, Bury St Edmunds
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Alteration of BID arrangements
Budget headings and project costs can be altered bythe Board provided it stays within the constraints ofthe revenue received through the levy. The area covered by the BID and the BID levy percentage cannot be altered without an Alteration Ballot.
Naturally we will also be watching closely what happens tosome of the important customer trends over time, includinguser profile shifts, dwell time and Bury St Edmunds brandrecognition. The deployment of our street rangers will allowus to monitor physical improvements around the town, bothwithin the public realm and also internally with business refitsand modernisations. We will keep you up-to-datewith these figures in our regular newsletters,as well as giving you updates on theBid4Bury website.
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Key Performance Indicators (KPIs)
As experienced business people, we understand the requirement to monitor the progress of the BID. Closescrutiny of our activities will allow us to control it, redirecting resources to where they will be most effectiveand ensuring that we sustain a value-for-money approach.
Hard performance data will give you, as investors in both Bury St Edmunds and Bid4Bury, evidence that we are delivering what we promised and that you are enjoying a return on your contribution into the BID.Setting performance targets will give us solid news of progress in promoting the town and the BID area.
To help us evaluate whether we are meeting our core objectives, we will regularly monitor seven different KPIsto verify that we are heading in the right direction and spending your money on the things you value most.
Indicator Measure Source Frequency of Frequency ofcollation publication
Footfall Pedestrian Springboard Continuously Quarterlynumbers foot-flow counters
Customer/visitor opinions Survey Market research Annually Annuallyof the town centre
Retail sales Growth % A sample of Monthly independent & Quarterlynational retailers tradingin the BID area
Car park usage %age use Borough council Quarterly Annually
Crime Town centre Suffolk Police & Monthly Quarterlybeat area SNT Central
Street warden activity BID area Street rangers Weekly / Quarterlymonthly
Retail property vacancies % of total Town Centre Quarterly Quarterlyin BID area Manager
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G S
TR
EE
T
HA
TT
ER
ST
RE
ET
AN
GE
L LA
NE
CH
EQ
UE
R
SQ
UA
RE
RAMMEADOW
ST ANDREWS
BUS STATION
Bus Info.
Peacocks
The Malthouse Project
GOSNOLD STREET
AUCTION STREET
CHARTERSQUARE
HANCHETSQUARE
arc/CATTLE MARKET
P
PP
PARKWAY
P
P
P
P
P
Map showing Bury St Edmunds BID boundary
29
www.bid4bury.com
The area includes the main town centre bounded by Risbygate Street and Mustow Street to the north;Parkway to the west; Robert Boby Way and Churchgate Street to the south and Angel Hill to the east.
