Setting the BID Levy Sample Clauses
The 'Setting the BID Levy' clause defines how the amount of the Business Improvement District (BID) levy is determined for properties within the BID area. Typically, this clause outlines the calculation method, such as basing the levy on a percentage of the rateable value of each property, and may specify minimum or maximum amounts, exemptions, or special rules for certain types of properties. Its core practical function is to ensure a transparent and consistent process for establishing the financial contributions required from businesses, thereby providing clarity and predictability for both the BID management and the contributing businesses.
Setting the BID Levy. 4.1. As soon as possible after the Commencement of this agreement the Council shall:
(i) calculate the BID Levy in accordance with the Regulations and the BID Levy Rules.
(ii) Confirm in writing to the BID Company the BID Levy payable annually by each BID Levy Payer.
Setting the BID Levy. As soon as possible upon the Ballot Result Date the Council shall: - calculate the BID Levy for each BID Levy Payer in accordance with the BID Levy rules; and - confirm in writing to the BID Company, the BID Levy payable by each BID Levy Payer.
Setting the BID Levy. 4.1 By 11th April the Council shall calculate the BID Levy due from each BID Levy Payer in accordance with the BID Levy Rules
4.2 As soon as practicable after the 12th April 2016 confirm in writing to the BID Company the BID Levy payable annually by each BID Levy Payer
5.1 Interest payments on money in the BID Revenue Account will be subject to the Council’s banking arrangements at the time of operating the account. Such interest, if any, will be paid to the BID Company as part of the BID Levy.
Setting the BID Levy. 4.1 As soon as possible after the commencement of this agreement the Council shall calculate the BID Levy in accordance with the Regulations.
4.2 Confirm in writing to the BID company the BID Levy payable annually by each BID Levy Payer
4.3 Enter into a Service Level Agreement with the BID Company
5.1 The Council shall pay to the BID Company in accordance with the Regulations:
(i) 1st April - 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(ii) 1st July – 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(iii) 1st October – 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(iv) 1st January– Any further balance collected less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(v) 31st March – Any further balance collected for that year or previous years less any recovery cost incurred and any repayments to Bid Levy Payers
5.2 Within ninety days from the Ballot Result Date the BID Company shall provide the Council with details of its own bank account into which the BID Levy shall be transferred electronically from the BID Revenue Account on production of an invoice by the BID Company in accordance with clause 5.1
5.3 Interest earned on money in the BID Revenue Account shall form part of the BID Levy and be payable to the BID Company
5.4 In the event that a BID Levy Payer is entitled to a repayment of a BID Levy pursuant to paragraph 8(4) of Schedule 4 of the Regulations and in the event that the Council has paid such BID Levy to the BID Company including all of the contingency relating to that BID Levy the Council shall request such repayment sum from the BID Company and the BID Company shall pay the repayment sum to the Council by way of reduction in the quarterly payments, as scheduled in 5.1, and the Council shall thereafter repay the repayment sum to the BID Levy Payer. For the avoidance of doubt the BID Company shall reimburse the Council forthwith for any repayment of bid levy in circumstances where the repayment falls due after payment by the Council of the last quarterly payment within the bid term referred to in 5.1.
5.2 The BID Company shall issue to the Council a VAT invoice for the ...
Setting the BID Levy. 4.1 By 1 July 2017 the Council shall:-
(i) calculate the BID Levy due from each BID Levy Payer in accordance with the BID Levy Rules; and
(ii) confirm in writing to the BID Company the BID Levy payable annually by each BID Levy Payer
(iii) enter into the Baseline Agreement with the BID Company 5 The BID Revenue Account
5.1 The Council will maintain the BID revenue account established for the purposes of the existing BID. Assuming a successful renewal ballot, the Council will continue to transfer BID levy from the BID revenue account to the bank account of the BID company.
Setting the BID Levy. 6.1 By the 1st xxxxxxxxxx or as soon as reasonably practicable in the first financial year and 1st March or as soon as reasonably practicable in subsequent financial years PBC shall:- Calculate the BID Levy due from each BID Levy Payer in accordance with the BID Levy Rules; Confirm in writing to CBL, as soon as practicable after billing, the BID Levy payable annually by each BID Levy Payer; and Provide the Annual Budget Report.
Setting the BID Levy. 4.1 As soon as possible after the commencement of this agreement the Council shall calculate the BID Levy in accordance with the Regulations.
4.2 Confirm in writing to the BID company the BID Levy payable annually by each BID Levy Payer
4.3 Enter into a Service Level Agreement with the BID Company
5.1 The Council shall pay to the BID Company in accordance with the Regulations:
(i) 1st April - 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(ii) 1st July – 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(iii) 1st October – 25% of invoiced debt less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
(iv) 1st January– Any further balance collected less any Enforcement Expenses incurred by the Council and any repayments to Bid Levy Payers under clause 5.2 of this agreement.
Setting the BID Levy. 6.1 By the 3rd May 2018 and thereafter by 3rd March in each financial year CBC shall:- Calculate the BID Levy due from each BID Levy Payer in accordance with the BID Levy Rules; Confirm in writing to MRBD, as soon as practicable after billing, the BID Levy payable annually by each BID Levy Payer; and Provide the Annual Budget Report.
Setting the BID Levy. 4.1 As soon as possible following the Commencement Date and following any later Ballot Result Date and in any event 14 (fourteen) days before any bills are issued, the Council shall:
4.1.1 calculate the BID Levy for each BID Levy Payer in accordance with the BID Levy Guidelines; and
4.1.2 confirm in writing to the BID Company the BID Levy payable by each BID Levy payer.
4.2 Upon receipt of the information contained at clause 4.1.2, the BID Company may notify the Council of any corrections or variations that may be required.
Setting the BID Levy. As soon as possible after the Commencement Date, the Council shall calculate the BID Levy in accordance with the Regulations and the BID Levy Rules.