Moray Speyside will soon have its own Tourism Business Improvement District
Businesses have voted YES to introducing the Tourism BID.
The recent ballot for the BID was successful, with the following results:-
- Turnout by headcount was 37.91%
- Turnout by rateable value (RV) was 69.27%
- Number of votes cast was 141 with 106 voting in favour of the BID
- The combined rateable value of those that voted was £12,185,950 with 97.17% (£11,841,150) voting in favour of the BID.
The vote was therefore successful on all counts required by law and a Tourism BID company will become operational on 1st April 2020. The company will be a not-for-profit limited company, with its purpose being to deliver the objectives of the Moray Speyside Tourism BID Business Plan over 5 years.
What happens now?
- All businesses located within the Tourism BID boundary with a rateable value of £2,000 or more will be required, from 1st April 2020, to pay an annual levy as set out in the Tourism BID Business Plan.
- Moray Council, as the legal billing authority will issue levy invoices on behalf of the Tourism BID company on or around 1st April, along with payment details.
- A BID Board of Directors will be created to drive forward the Tourism BID’s business plan and ensure that the organisation has strong governance.
- The new Visit Moray Speyside Tourism BID will officially launch on 1st April 2020
- The future will be brighter