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Business Improvement District (BID) Development

Business Improvement District development, initiation and management is a key tool in revitalising town/city centres as commercial, business and social hubs.

BIDs can also be considered for regenerating out of town retail, commercial and industrial locations.

At Heartflood we specialise in working closely with clients through the entire, and at times complex, process. From initial Feasibility Studies, BID structuring, Ballot Stages, Initiation & Roll-Out through to on-going Management and Review and Renewal.

With extensive experience that has to date encompassed the delivery of 15 successful BID Ballots we are uniquely positioned to be able to help construct robust and workable BIDs that deliver tangible outcomes.

Every BID situation is unique to its location, situation, context and requirements and so at Heartflood we willingly spend time and effort in working with our clients to consider the best possible BID structure to generate sustainable interest and support up to and beyond the Ballot stage.

 

The Process

Generally a successful BID programme will encompass the following stages:

  • Concept
  • Development
  • Consultation
  • Structuring
  • Ballot
  • Adoption
  • Initiation & Introduction
  • Management
  • Review
  • Renewal

What is a BID?

Business Improvement Districts (BIDs) are structured initiatives designed to regenerate specific urban areas such as town/city centres and shopping districts. Regeneration and growth comes from raising interest and awareness, marketing & promoting positive features & benefits, encouraging commercial enterprise, supporting businesses, increasing footfall and generally developing the local economy so that it reaches its full potential.

Successful BIDs can transform their locales by creating safe, environmentally responsible and attractive public environments. In effect creating a Destination that will appeal to local businesses, residents, shoppers and visitors. In other words “the” place to work, conduct business, shop and enjoy leisure activities.

Above all else, BIDs allow the commercial and businesses communities to positively work together to become more effective in influencing and supporting ideas, improvements, initiatives, policies and projects that affect their area of concern and activity.

BIDs are entirely Business Led and managed by private/public partnerships relating to a defined geographical area such as a town centre. After extensive consultation and agreement, services, initiatives and improvements can be delivered in addition to any existing provision made by the public sector resulting in a stronger centre.

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