The 2011 Croydon BID Renewal Ballot
On 4th November 2011, Croydon BID received a mandate to continue its work for a further five years after Town Centre businesses gave it their backing in a 28-day ballot conducted by Croydon Council Electoral Services.
With a voting majority of 71.01% by number and 78.84% by rateable value, businesses voted overwhelmingly in favour of the BID continuing for a second term from April 1st 2012 to March 31st 2017.
Commenting on the ballot outcome, Joe Rowe, Chairman of Croydon BID, said: “Over the last five years, in partnership with key stakeholders, the BID Company has played a significant part in improving Croydon’s competitive position and making our Town Centre a more welcoming place to visit and work. We now look forward to forging new and stronger partnerships in order to restore confidence and progress to our Town Centre following the events that occurred in August.”
The ‘yes’ vote secures £5million of income for Croydon BID over the next five years to invest in projects and services that businesses feel are important for improving the town’s competitive position. In addition, The BID Company aims to raise a further £2.5m through additional, voluntary contributions, which will be used to fund business-led initiatives.