Important Information regarding the Lincolnshire Coastal BID Levy Payment

Dear business owners

As advised and in your recent levy bill, the COVID19 virus has had an unprecedented impact on businesses operating within the BID area.

As most of our board of directors are local business people, we are very much aware of the strains that our businesses have been operating under and as a collective we continue to try to provide help and support where we are able. We are required by law to send out the BID Levy bills, but we contacted you earlier in the year to advise you that we had been able to negotiate a change to the normal payment terms of the BID Levy, which meant that invoices usually due for payment in April 2020 would be delayed until September 2020.

Subsequently, the board of directors have continued to explore every option possible to reduce the amount levied this year from 1.5% to 1% (one third of the amount of your bill) in acknowledgement of the shutdown period and the impact COVID19 has had on the local economy, however to date have not been in the position to reach a solution. Since, the levy bills were posted, further discussions have taken place and we hope to update you with an outcome and next steps in the coming weeks.

We can assure you that the BID will strive to operate for the best interests of members and our local area and we will be focusing our attention on ensuring we can best support Levy Payers now and in the future. Our Annual Report and newsletters will soon be available to recap in more detail about what we have been able to deliver this year and what we have in store for next. We continue to wish you all the very best as we start to emerge from this period of uncertainty.

Should any of the BID Team be able to offer further help and support please don’t hesitate to contact a member of the team

Yours faithfully

Sid Dennis
Chairman - Lincolnshire Coastal Destination BID