Cambridge BID’s business plan for 2018-2023 commits it to investing £4.5million into the city centre over the next five years through a range of projects and additional services.
The plan for a second term has been developed following extensive consultations with Cambridge businesses and other interested parties. It outlines how Cambridge BID plans to deliver ‘a world class experience for all who visit, live and work in Cambridge, a global city’ through delivering projects under three headings:
- ‘Welcome’ – Creating a welcoming, friendly and safe city for all to enjoy, including by expanding the BID area to include Hills Road and the station area;
- ‘Experience’ – Creating a vibrant and world class destination delivering a variety of promotions and events that animate and entertain;
- ‘Support’ – Enabling greater strategic connectivity for BID businesses and giving them the training required to trade successfully.
Businesses who are part of the BID have until 2 November to vote on the proposed plan for a new five year term. All businesses within the BID boundary with a rateable value of more than £30,000 are eligible to vote.
Established in 2012, Cambridge BID is a business-led, independent, not-for-profit company, funded through an annual levy for businesses within its boundary area. All of its projects and services are in addition to those provided and funded by the city council and other public bodies.
Cllr Lewis Herbert, Leader of the Council, said: “The city council is backing the BID’s proposed second term, as it will bring significant additional investment and community benefits to our great city.
“The BID partnership has already achieved so much in such a short time, working with many organisations including ourselves. We look forward to a successful ballot outcome and to continue to work with the BID, over the next five years, in creating a world class experience for all those who visit, live in and work in Cambridge.”