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Frequently asked questions

Have you got a question relating to the Croydon BID Renewal Ballot 2016? We have the answers - or simply contact a member of our team who will be happy to help.

Q. What is a BID?

Business Improvement Districts (BIDs) are democratically elected business-led organisations that aim to improve the economic prospects of a defined area through the delivery of short, medium and long-term projects and initiatives identified in consultation with the local business community.  

They are independent organisations financed principally through a small, compulsory annual levy based on the rateable value of businesses in the BID area. This income is ring-fenced to provide improvements to the local area that would otherwise not occur.    

Governed by legislation, BIDs generally operate for up to five years. They can only exist if they have been sanctioned through a formal ballot conducted among businesses that operate in the BID area when a majority of votes both by number and aggregate rateable value needs to be secured.

Q. Who will run the BID?

Croydon BID is a wholly independent, non-profit company limited by guarantee. It has a board of directors comprising 21 board directors. The structure of the Croydon BID Board reflects the number and types of business in the town centre and consist mainly of BID levy-paying businesses or statutory service providers as dictated by the BID Regulations 2004. From time to time, the Board may co-opt new members or invite observers to Board meetings.

Croydon BID is managed by a small executive team that is responsible for planning and delivering all of the BID’s projects and services, drawing on the support and expertise of the local business community.

Q. How is Croydon BID funded?

BIDs are funded through a nominal levy calculated on the rateable value of all businesses within a defined area.

Croydon BID’s work is funded through a compulsory 1% levy collected from all organisations in the BID area with a rateable value of £40,000 or more.

Premises with a rateable value of less than £40,000 are exempt from paying the BID levy. Please see 'How are we funded' for further details.

Q. What are the details of your Operating Agreement with Croydon Council?

A formal operating agreement has been entered into with Croydon Council that defines all of the contractual arrangements for collection and enforcement of the BID levy. Please see Operating Agreement between London Borough of Croydon and Croydon BID 2017-2022 for further details.

Q. What are the details of your Baseline Agreements with Croydon Council?

It is important that the activities of Croydon BID represent additional value above and beyond public services already provided by Croydon Council. To that end, Croydon BID has entered into a number of baseline agreements with the Council to clearly define the levels of service that can be expected from Croydon Council. Please see Baseline Agreement between London Borough of Croydon and Croydon BID 2017-2022 for further details. 

Q. What is the levy % against my rateable value per annum?

Taking into account the level of regeneration expected within the town centre, Croydon BID is making the pledge to FREEZE its levy at 1% of the rateable value of each rateable business unit, underlining our continued commitment to support the business community during a period of great change.

Q. When is the ballot and how does it work?

In order to continue for a further five years, Croydon BID must receive a ‘YES’ vote from a majority of businesses voting in the ballot, both by number and by the total rateable value those businesses represent.

The ballot will be a confidential postal ballot of all eligible hereditaments on the Ratings List at the time that the Notice of Ballot is issued. Croydon Council will be responsible for managing and paying for the ballot to ensure it is carried out fairly and not influenced by Croydon BID.

The ballot will run from 3rd October until 5pm on 3rd November 2016.

Q. What are the choices on the ballot paper and is any other company standing for election?

There are two choices on the ballot paper – vote ‘YES’ to ensure the BID continues to make a difference for a further five years or ‘NO’ to cease all services and projects delivered by Croydon BID by 31st March 2017.  

There are no third parties involved in the ballot. Therefore it is a simple ‘YES’ or ‘NO’ vote for Croydon BID.  

Q. What are the key dates for the ballot?

The key dates for ballot are as follows:

  • Notice of ballot issued by Electoral Services 23rd September 2016
  • Ballot opens 3rd October 2016
  • Ballot closes 5pm 3rd November 2016
  • Announcement of result 4th November 2016

Q. What minimum result does Croydon BID need to ensure it is successful at ballot?

In order to continue for a further five years, Croydon BID must receive a ‘YES’ vote from a majority of businesses voting in the ballot, both by number and by the total rateable value those businesses represent.

Q. What happens if the ballot is unsuccessful?

If Croydon BID is unsuccessful at ballot, all activity will cease on March 31st, 2017.

Q. What happens if the property is currently empty?

If a property is empty and there is no current tenancy agreement then the property owner will be responsible for payment of the levy.

Q. What is the BID area?

The Croydon BID area is within the boundary line highlighted on the map, from West Croydon Station in the north, taking in Cherry Orchard Road and Number 1 Croydon in the east, along Park Lane to Coombe Road in the south and Charles Street and Church Street to the west. 

Properties that are both on and inside the area boundary are included within the BID area – ie where the BID boundary is drawn along a road, properties on both sides of the road are included in the area.

Q. How will I know my money is being spent wisely?

Croydon BID is accountable to its levy paying businesses and is governed by a business-led Board. It will publish an annual review and have annual audited accounts.

Q. What do I pay my rates for?

Business Rates are a statutory local tax levied to provide generic services by the local authority. The Croydon BID levy will pay for specific services and functions on top of the base-line services that Croydon Council provides. These additional services are decided by the BID Board in consultation with the c.580 Croydon BID levy payers.

Q. Who should I contact if I want to discuss the BID in more detail?

The Croydon BID team, led by the Chief Executive, Matthew Sims, will be happy to discuss the aims of the BID, answer any questions and discuss any concerns you may have. Please contact the team on 020 8603 0050 or email info@croydonbid.com

 

 

 

 

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