Southside businesses prepare for BID ballot

BUSINESSES in the Southside of Birmingham have been told to prepare for a ballot set to make the area the fourth Business Improvement District (BID) in the city centre.

Ballot papers will begin being sent out on October 4 in preparation for the vote, which takes place in November.

The Southside BID would encompass more than 300 properties in the area south of the Bullring including Hurst Street, The Arcadian, the Wholesale Markets, China Town and the Gay Village.

A BID is defined as a precise geographical area within which businesses invest collectively in local improvements and additional services. These are financed through extra levies collected by the city council by occupants based on their standard business rates. The levy is paid on top of business rates but is then ring – fenced and paid directly to the BID as independent, not for profit company.

The total rateable value for the Southside area is nearly £20m and for a property with a rateable value of £20,000 the investment would amount to £7.69 a week, based on a 2% levy.

If this was spread across the whole area it could generate almost £350,000 a year – over five years this would top £1.75m.

This is money over and above what is paid to the city council and it could be used to fund things like street wardens, festive lighting, street cleaning and flower planting.

Three other BIDs already exist in the centre: Broad Street, Colmore and Retail.

Stuart Griffiths, chief executive of the Birmingham Hippodrome is the chairman of the BID steering group.

He said: “I and many others believe that now is the right time to build on what has been achieved and realise Southside’s full potential as a contemporary urban village.

“Southside needs to be more accessible and welcoming, more vibrant and attractive both during the day and in the evening and better organised to promote the district and the interests of its businesses.”

The BID could also act as a catalyst to the regeneration of the wider area as outlined in the Big City Plan.

If a majority supports the Southside proposal then the BID could be formally established by April next year.