WHAT IS A BUSINESS IMPROVEMENT DISTRICT (BID)?
A BID is a defined area within which businesses pay a small contribution in order to fund projects within the BID’s boundaries. A BID is business-led and provides you with the opportunity to have your say on the delivery of projects that will make a tangible difference to your business.
The BID model makes sure that everybody contributes to the governance and vision of our district. BIDs are business-led and provide you with the opportunity to have your say on the delivery of projects that will make a tangible difference to your business. Over the next 5 years, the Sandyford BID will bring in excess of €2.5 Million of additional investment – which will be provided through a sustainable business model run and governed by the businesses/stakeholders in the Sandyford BID area.
WHAT IS THE VISION OF THE SANDYFORD BID?
Our vision is to establish Sandyford Business District (SBD) as
- a world class destination in which to work and reside;
- a vibrant community of businesses and residents with a unique identity;
- a place where living, working, shopping and spending leisure time is attractive, easy and positive.
WHAT ARE THE SPECIFIC OBJECTIVES OF THE SANDYFORD BID?
The Sandyford BID (SBiD) aims to develop a strong community among our businesses and residents by creating a clear sense of identity and place through a focus on:
- Branding, Communication & Promotion of our District
- Infrastructure, Environment & Amenities
- Events, Social & Culture Programming
- Business Attraction: FDI & Indigenous
- Smart City, Technology, WIFI and other Capital Projects & Improvements
- Cost Savings & Incentivisation for Businesses & Residents
HOW MUCH IS THE BID GOING TO COST ME?
The contribution of the Sandyford BiD is estimated at 3% of the annual rates bill and the vast majority (60%) of the businesses in our area will have to pay €375 or less p.a.) in order to fund projects within the BID’s boundaries.
WHAT ARE EXAMPLES OF HOW IT IS CALCULATED?
Current Rates Payable / Est. of levy @3%
€3,300 / €99
€12,500 / €375
€25,000 / €750
36.4% of rate payers (269 no.) will pay €100 or less p.a.
42.6% of rate payers (315 no.) will pay €250 or less p.a.
67.6% of rate payers (500 no.) will pay €500 or less p.a.
DO ALL BUSINESSES HAVE TO CONTRIBUTE?
Yes, all businesses/organisations that pay business rates for premises within the Sandyford BID are liable to pay the BID contribution during the 5 year term of the BID.
HOW DO WE VOTE?
A BID comes into existence when it is approved in a secret ballot. Of those that vote, over 50% must vote in favour. A BID only comes into existence if the majority of the businesses in the Sandyford Business District Area vote in favour of establishing a BID. Every business, no matter how big or small, will have an equal vote. Our BID vote or plebiscite will take place in October this year and you will receive your ballot papers by post.
WHEN WILL WE VOTE AND HOW IS THE PLEBESCITE ORGANISED?
The plebiscite is organised by Dun Laoghaire-Rathdown County Council. The Chief Executive will appoint a returning officer who will organise and oversee the voting and counting process. Each ratepayer as per the list of rateable properties will receive a ballot paper by post. The ratepayer can return the ballot by post or by placing it in the ballot box available in County Hall. The count takes place in the presence of An Cathaoirleach. The plebiscite is administered according to regulations published by the Minister of Environment in Statutory Instruments No. 166 of 2007. Once formed it is independent and the businesses decide how to spend all the funds.
WHEN WILL THE BID BE OPERATIONAL?
It is expected that the BID scheme will be in operation by Quarter One 2017 and will last for a 5 year period from the commencement date agreed by DLRCoCo Elected Representatives and the proponents of the Sandyford BID.
CAN YOU GUARANTEE MY CONTRIBUTION WILL BE SPENT LOCALLY?
Yes. The money does not go to Central Government. Funds are held by a BID Company made up of business representatives and are only for the projects agreed and voted for by the participating businesses.
WILL THE SANDYFORD BID REPLACE SERVICES BEING DELIVERED BY THE LOCAL AUTHORITY?
No. The Sandyford BID will not be delivering any services that are currently being delivered by the local authority. All projects and initiatives that will be delivered by the Sandyford BID are additional to the services provided by the local authority. Also, the BID will not be adopting any special powers or authority from the local authority.
HOW IS THE BID COLLECTED?
All businesses in the Sandyford BID area will receive the BID levy invoice on an annual basis at the start of the year. The BID levy is being collected by Dun Laoghaire Rathdown County Council on behalf of the Sandyford Business Improvement District Ltd and all BID levy payments will be transferred to this company.
WHAT IS THE CORPORATE STRUCTURE OF THE BID?
The Sandyford BID Company Ltd will be incorporated/ established as a non-profit Limited Company for the purposes of implementing, managing, administering and renewing the BID scheme. For the first year of operation, an interim board will manage the affairs of the company pending election at the next AGM of the Company.
HOW CAN BUSINESS/ORGANISATIONS GET INVOLVED WITH THE BID?
As delivery of various projects commence, the BID team will engage with businesses and other stakeholders. There will be opportunities for businesses to be involved with the BID through membership of sub-groups for each of the main projects.
MY BUSINESS IS OUTSIDE THE BID AREA BUT I WOULD LIKE TO SUPPORT THE ACTIVITIES, HOW CAN I BE INCLUDED?
Your business can become a voluntary member of BID. Please contact us to discuss your options.