FOLLOWING a formal ballot, a decision has been reached to waive the support for the Aberystwyth Business Improvement District.
A Business Improvement District (BID) is set up through a legal ballot process. It can be set up to run for up to five years, after that a ballot must take place to renew it. This means that all businesses which pay business rates within the area vote for or against a proposal document.
Advancing Aberystwyth Ar y Blaen has been in place since April 2016, with businesses paying an extra levy to fund projects. After 5 years, a ballot had to take place to renew the scheme.
The ballot for all the businesses in Aberystwyth’s Business Improvement District opened on 04 March 2021 and closed on 31 March 2021.
The results concluded that the proposal to continue to run a Business Improvement District in Aberystwyth has not been approved.