BID Ballot A Success
The Blue Bermondsey BID Ballot was held from 5th June until 3rd July and the result was a resounding success with 89% of those of you who voted, voting YES to the proposal.
So what happens next?
The BID will last for five years. That means we will have a five year plan to build on the work that has been done by the BBBA and thereafter for the BID to continue, we must hold another ballot, based on a further proposal.
How will the BID be delivered?
Driving forward the Blue Bermondsey BID has been the BBBA BID steering group, committed people from all types of businesses, who have met regularly over the past three years and have recognised that the area can be improved by having a united voice and co-ordinated strategy.
A new, not-for-profit company limited by guarantee will be established to replace the steering group, with a board to be announced soon.
Every levy payer will have the opportunity to become a member and all businesses will be encouraged to actively participate in the BID through themed groups.
The Blue Bermondsey BID will be run by and for local businesses and, as a levy payer you will have a stake in the company.
At our first AGM we will elect the BID board to oversee the running of the BID Thereafter at every AGM the company will report back on what has been delivered through the BID and share with you their proposals for the following year’s programme. The company’s accounts will be independently audited.
As business people, we all know that staff constitute a significant part of company expenditure and yet without them, we can’t run our businesses effectively. It is no different for the new BID company so we will appoint a part-time BID manager to help deliver the programme. It will be the BID manager’s and the board’s responsibility to increase the value of the BID income and offset delivery costs. This will be done by securing voluntary contributions from businesses outside the boundary, landlord contributions, grant funding and sponsorship. In addition, commercialisation opportunities will be considered. And we will also aim to work in partnership with appropriate organisations to maximise the number and quality of projects delivered. All funds and additional income received by the BID will be invested in projects that will make a positive difference to business and the community. In mid-September 2014 you will receive your first request for payment of the BID levy. It’s not so much a charge, as an investment. It’s money invested by you into your organisation to be spent as you see fit. So please contact:
russell@bluebermondsey.co.uk with your ideas and input and become involved in the future development of the BID.
The Blue has a long, intriguing history and the BID will enhance and give a greater prestige to the area and it’s unique character and identity. So future generations can share the joy of going “Down The Blue”.
The official result
Posted in BID News