Clonmel BID chief confident concerns of some ratepayers over levy will be allayed
May Stokes admits ‘healthy level of pushback’ against BID levy from some people but believes their concerns will be allayed once they see the funds being put to good use.
Clonmel Business Improvement District is funded by a mandatory levy the town's 986 rate payers must now pay annually for the next five years that will deliver an estimated €350,000 fighting fund into the company's coffers each year.
The levy is calculated as 5% of a ratepayer's commercial rates bill and is paid in addition and separate to their commercial rates.
“If your standard commercial rate bill was €100, your BID levy should be €5 per year,” May explains.
Funds raised from the commercial rates tax are invested in county council services, while BID levy funds will be invested solely on BID projects for the benefit of Clonmel.
While rate payers pay the BID levy to Tipperary County Council, May stresses the BID money goes into a separate bank account managed only by the BID company, which is answerable to the town's business owners on how it's spent.
CEO May Stokes acknowledges there is a “healthy level of pushback” against the BID levy from certain businesses and people in the town.
She believes this is natural and is confident their concerns will be allayed once they see the levy money raised being put to good use.
“You are asking people to pay an extra levy, and we haven't done anything yet. We hope with the Clonmel on Ice rink people will see the levy is definitely benefiting them and the town.”
She says the pushback sets the standard for her and Clonmel BID's board to spend the levy wisely.
“We have to deliver value for that levy and show that it will be worthwhile and beneficial for the town. I am really confident in six months’ time, at the end of March everyone should know what Clonmel BID is and be able to point to things we have done.”
May points out that Clonmel BID is a not-for-profit company limited by guarantee and operates to a clear code of governance set down in legislation. The company's accounts are audited monthly, and its operations are very transparent, she stresses.
Further information on Clonmel BID company and how it operates is available on www.clonmelbid.com