Derby BID collapses after voters split

Derby’s St Peters Quarter business improvement district is set to be disbanded after voters in the area where split down the middle on whether it should continue.

The result of the ballot has been called “disappointing” by the chair of the St Peters Board, Stephen Jeffrey, who has warned that businsses in the area will now be “more exposed than ever to the uncertainties of the current economic climate”.

In order for the BID to be renewed, more than 50% of the businesses who voted were required to register a ‘Yes’ vote. These businesses should also hold more than 50% of the rateable value of those who vote.

Voting in the secret ballot closed at 5pm on the 21 July and at the final count 50% had voted in favour of the BID and these businesses held 57% of the rateable value. There were also a number of votes which were received through the post after the deadline and these could not be included in the final count.

Businesses had been canvassed for their views on the work that had already been achieved in over the past five years and the work needed in the future to further improve the core retail area between the Cathedral Quarter and Intu Derby shopping centre.

The new BID would have launched on September 1st 2016 with business paying a levy to raise around £210,000 a year, totalling over £1.2m over the five year term of the BID to carry out a programme of improvements for the area.

Stephen Jeffery is chair of St Peters Quarter Board which includes representatives from businesses across the area.

He said: “Although the majority by rateable value voted in favour, we are disappointed that the vote by number was split 50/50. This therefore does not meet the strict regulations governing BID renewal.

“Unfortunately this means that the valued resources such as the Rangers, street entertainment, Christmas lights, promotions, floral displays, sponsorship, business representation at city level and of course the collective work with our partners to attract further investment and lobbying to achieve positive changes will have to stop by August 31 2016.

“Therefore from September there will be no one championing or supporting businesses in this area which leaves them even more exposed to the uncertainties of the current economic climate and the challenges which continue to face the high street.

“The businesses within the neighbouring Cathedral Quarter and Intu Derby shopping centre are fortunate to have such representation and support.

“The outcome of such a close vote is very disappointing for the businesses in St Peters Quarter who wanted the good work of the BID to continue and will now see it come to an end.”