Paddington BID wins at Ballot Box
Following a successful Alteration Ballot a 10% discount will be applied to BID levy bills from Paddington Business Improvement District (BID) in 2010/11 to alleviate pressure on local businesses. Out of 349 businesses who were balloted, 97% voted in favour of the changes, representing 99% of rateable values in the area. Turnout was 42.12%.
Recognising the high rises in business rateable values in the area (from which the BID levy charge is calculated) and the impact of the recession, the Paddington BID Board voted unanimously in February 2010 to make a fundamental change to its formal levy rules, to bring down its charge.
Alteration Ballot
In order to apply the 10% discount the BID had to make a simple change to the formal 'levy rules', on which a full ballot of businesses took place, just as in the renewal ballot. Known as an 'Alteration Ballot', this took place in June 2010.
No other changes to the BID's operation, projects and services were proposed. The BID will continue to run the police community safety team, the CCTV system, the recycling service, environmental schemes, and a range of consumer events and marketing initiatives. The BID could only discount its levy if businesses voted YES in June 2010.
The level of discount can be adjusted by the BID Board for the remainder of the BID's current term (but never exceeding the levy rates set out in the original renewal proposal) without the need for a further Alteration Ballot.
Alteration Ballot
Maxine Chapman, Chair of Paddington BID and partner at M&L Associates said:
"Business rates have increased by 45% in Paddington, just when the Business Rate Supplement is introduced in London. The Board felt very strongly that Paddington BID should not be adding to this financial burden, but instead trying to ease it. It is wonderful to see that so many businesses voted and to received such a resounding yes to the BID Board's proposals."
View the full details of the changes proposed in the Alteration Ballot.
Click below to download details of what the BID will deliver in its second term to March 2013, the area it will cover, which business will be involved and how the BID will operate.
BID Renewal Proposal 2008
