A ballot was held on the proposal of the Solihull BID to renew a Business Improvement District (BID) for Solihull.
Ballot result
The result has been declared and the proposal to renew the Business Improvement District for Solihull has been approved.
What is a business improvement district?
A business improvement district is an area within which projects specified in the BID arrangements are to be carried out for the benefit of that district or those who live, work or carry out any activity in the district. These projects are financed by a BID levy imposed on the non-domestic ratepayers, or a class of such ratepayers in the district.
For a BID to go ahead, the ballot must be won on both a straight majority and majority of rateable value (the value of a commercial property unit). This ensures that the interests of large and small businesses are protected.
Who can vote in the BID Ballot?
Persons eligible to vote in the ballot will be the non-domestic ratepayers who are liable for the BID Levy. Each person entitled to vote in this ballot shall have one vote in respect of each hereditament occupied or (if unoccupied) owned by them in the geographical area of the proposed BID.
Count of ballot papers
Ballot papers were counted on Friday 11 October and the result was declared the same day. For a BID ballot to be successful there must be a majority of those voting in favour of the proposal, both in terms of the numbers voting and the rateable value represented by those voting.
Further details of the BID Proposal
If you require further information on the BID, please contact Solihull BID on 0121 285 1370 or email info@solihullbid.co.uk
Alternatively, information on the BID is available from www.solihullbid.co.uk