Drogheda consider BIDS
A group of Drogheda rate payers are working on putting a Drogheda Business Improvement District (BID) proposal together. Ratepayers will have the chance to vote on whether they want to create a BID in Drogheda or not.
A BID is a defined area within which businesses are required to pay an additional rate levy in order to fund projects within the district’s boundaries. The additional charge or levy is ring fenced and used to finance shared common projects.
Niall Kierans of Kieran’s Deli, 100 years on West St, said “This is a great opportunity for Drogheda’s rate payers to get together and decide what projects they would like their rates spent on. It also provides a structure for local businesses to work on shared goals like tourism and enterprise development.”
The BID is operated through a company with an elected board of ratepayers, with two co opted board members – a county councillor and an executive from Louth County Council.
“There are lots of quick fix stuff that ratepayers can sort out quickly – foot fall counters”, says Declan Kierans of the Pain Factory, Laurence St “wi fi hot spots, town watch and town signage that needs a radical overhaul.”
If the BID is successful, an additional percentage of rates, a BID levy, will be paid by ratepayers in the BID area. These funds will be ring fenced and transferred to the BID company. For current BID companies in Ireland the BID levy ranges from 1.5% to 5% of additional rates.
The group are planning to submit a BID proposal to Louth County Council in December 2018. Following a public consultation period the BID proposal will then be voted on in a plebiscite of the BID area rate payers.
Geoff Fitzpatrick of Fitz Scientific, 20 years in business in Drogheda, adds - “We need to be looking at the bigger picture stuff – more enterprise development space, attracting indigenous businesses to set up in Drogheda, education and training resources for highly skilled people zoned development land for inward investment and most importantly, creating jobs for people living in Drogheda.”
If a majority of ratepayers vote in favour, the BID for Drogheda will then be enacted. Drogheda could then join a growing number of towns and cities throughout Ireland with a BID in place, including Dublin Town, Sandyford, Dun Laoghaire, Dundalk and Sligo.
Joe Stafford of Stafford’s Deli of Laurence St, is also giving Drogheda’s BID proposal his full backing, along with Jackie Joliffe of the Crafty Fox.
The Drogheda BID working group held a workshops at the Westcourt Hotel on Monday last and a second one is planned for Wednesday 28 November at 6:15pm. All Drogheda rate payers and public representatives are welcome to attend.