11.
THE BALLOT RESULT
2022 – 2027
A successful BID has to have ‘buy-in’ from the majority of those businesses who will finance it – both for a successful vote and also to ensure the partnership evolves in a positive environment.
Governed by government legislation and regulations, BIDs are statutorily established once voted for by the majority of businesses in an area and have a maximum term of five years before returning to their electorate for renewal. Once a majority vote has been achieved, a BID levy becomes mandatory on all defined ratepayers.
For a BID to be introduced, the ballot of business must meet two conditions: a majority in number of those voting and a majority in proportion of rateable value of those voting. The BID levy is then applicable to all eligible businesses.
THE BALLOT RESULT JULY 2022
Yes by number of votes: 96%
Yes by rateable value: 97%
Turnout: 52.5%
THE BALLOT – THANK YOU FOR USING YOUR VOTE
We would like to thank all the businesses who have supported us over the years and for taking the time to vote in this ballot.
The turnout was 52.5% which benchmarks well within the industry and demonstrates the business support for The Fitzrovia Partnership’s continued work.
A full list of businesses who were eligible to vote is available here.
To discuss anything in more detail please call 020 3146 4260 to speak to Lee Lyons or e-mail here.
Working together with our partners and our local communities, we can ensure that The Fitzrovia remains a vibrant, viable and sustainable area which works for businesses and residents and of which everyone can be proud.
Thank you for your continued support
