To agree to vote in favour of the Hereford Business Improvement District (HBID) for the third, five year term (2025 – 2030).

To agree to pay the levy on Herefordshire Council hereditaments in the HBID area, to the value of £32,085 per annum, an annual increase of £7,900, compared to current levy payments.

This report is to request cabinet member approval to vote ‘yes’ to the third term of Hereford Business Improvement District (HBID) in the forthcoming ballot (October, 2024). The HBID will raise a five year budget £1.769 million, via levy contributions, to deliver a programme of projects in the city centre. These projects and improvements are clearly defined in the HBID Business Plan (Appendix 1) and are additional to any services that are funded by the local authority. There are extensive benefits, not only to the businesses, but also to the council, residents and visitors alike.