Support Sought for Swansea BID’s Renewal
Car parking promotions, taxi marshals at night and the removal of millions of pieces of chewing gum from city centre streets are among the projects Swansea BID (Business Improvement District) has put in place over the last decade. Now, with the current BID term of office about to come to an end, Swansea Council’s Cabinet is being asked to approve the BID renewal ballot process and support its work for a further five years if another term is secured.
Swansea remains one of only five areas in Wales to operate a BID. The Swansea BID was first established in August 2006 for an initial term of five years before a successful renewal ballot was held in March 2011 to secure another five years. The BID generates about £465,000 every year through a levy that’s set at 1% of the rentable value of all non-domestic premises within the city centre BID area. This equates to about £2.3 million over five years that’s invested back into the city centre through agreed BID projects.