With a voting majority of 81.79% by number and 87.54% by rateable value, businesses voted in favour of Croydon BID continuing for another five years from April 1st 2017 to March 31st, 2022. The total turnout was 54.91%.
Commenting on the result which was formally declared today, Andrew Bauer, Chairman of Croydon BID offered his thanks to businesses for their continued support, adding: “In partnership with key stakeholders, Croydon BID is proud to have been at the heart of many of the changes that have taken place in our town centre over the last ten years as well as those being planned for the future.
“As Croydon now faces the biggest transformation and possibly lengthiest period of disruption it has seen since the 1960s, we look forward to forging new and even stronger partnerships in order to build, support and maintain a robust, informed and collaborative town centre business community that is galvanised towards ensuring that Croydon is regarded as the best place in south London in which to work, live, invest and do business.
"I would like to pay tribute to Matthew Sims and the BID Executive Team who have worked hard over the past five year term to improve Croydon town centre, with this ‘yes’ vote due in large part to their successful track record of delivering previous objectives that businesses have identified.”
The ‘yes’ vote from businesses secures over £4.1 million of income for Croydon BID over the next five years to invest in projects and services that businesses believe are important for ensuring Croydon’s future growth and economic success.
Commenting on the result, Councillor Tony Newman, leader of the Council said: “Croydon is rapidly evolving and bringing with it multi-billion pound investment. Our business community is vital to the borough’s continued growth and this excellent news shows the confidence local businesses have in Croydon BID and the work they do to ensure Croydon’s success.”
Councillor Mark Watson, cabinet member for economy and jobs, added: “I’m delighted Croydon BID have secured a further five year term and will continue to give a strong voice to local businesses who will be able to directly benefit from the economic growth that will come with the significant redevelopment of the town centre.”
Croydon BID’s income is raised through a 1% levy on businesses in the town centre whose premises have a rateable value of £40,000 or more. Since Croydon BID was first formed in 2007, it has invested in excess of £15 million on improvements aimed at making the town centre, safer, cleaner, more attractive, better promoted, more accessible and a more vibrant place to be.