Business Improvement District - BID
Background on the BID:
“Established on 1st April 2010 as a not-for-profit company limited by guarantee, the Victoria BID represents business in the area and is a business-led, and business-funded, body formed to support economic growth in Victoria and to create a vibrant destination for those who work, visit or live there. The BID was formed after a 2010 ballot in which businesses in the BID footprint voted on a business plan. The additional levy raised by the BID only goes towards providing services over and above those provided by local and statutory authorities, they do not replace them. Work programmes, projects and services are agreed by the BID’s business partners set out in a business plan.
In the original ballot that established the Victoria BID in 2010, turnout was 54.77% with a total of 131 votes counted out of 241 businesses. This majority represented an aggregate RV of £101,846,250 which is 89.03% of the total RV of businesses that returned ballot papers. The result of the renewal ballot was announced on Friday 27thFebruary. A total of 151 businesses voted out of the 243 businesses in the area. This majority represents 90.91% per cent of the total Rateable Value (RV) of businesses that returned ballot papers amounting to £109,707,250.There was a 62.55% turnout with a total of 152 votes counted resulting in a total of 129 Yes votes representing 85.43% of votes cast in favour. The Victoria BID will focus on five work programmes determined and prioritised by BID business partners: Clean and Green, Safe and Secure, Sustainable Prosperity, Destination Victoria and Public Realm.
We very much welcome the BID renewal for another five years. You can already see the benefits on public realm in Victoria Street. There has been an extensive study of the BID area and a little beyond it. This covers pedestrian use, cycling, general development, land use and all the other aspects of public realm that you would expect.
We welcome the vision of the streetscape that is proposed for Victoria Street and hope that this is completed.
Our only reservation is the inclusion of parts of Belgravia within the BID area and parts of Belgravia which are not in the BID area have also had attention from the BID managers. If you look carefully at the illustrative photographs in the BID information below you will see at least one was taken in Belgravia, outside the BID area. Naturally, as the Forum creates a Plan for the Belgravia Forum area we will ensure that the character of Belgravia is fully preserved. Any work will be fully consulted on with us and residents and must firmly comply with the policies of the Forum.
Victoria BID Renewal: Click here to download BID Proposal: A vision for a vibrant Victoria 2020”