BIRMINGHAM is to get a sixth Business Improvement District after a key vote returned a ‘yes’ verdict to forming one of the community improvement groups.
The process of forming the Southside BID, centred on the area south of the Bullring, can now begin in earnest after 82% of those who voted were in favour of the initiative.
For the BID to be successful, a majority by rateable value was also required and this was achieved with 85% of the total value of those who voted.
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 made to its local authority by occupants based on their standard business rates.
The Southside BID, which officially begins life on April 1 next year, will be governed by a board of 15 directors and supported by a full time BID manager, all to be appointed and accountable to BID levy payers.
The Southside BID will encompass more than 300 properties in the area including Hurst Street, The Arcadian, the Wholesale Markets, China Town and the Gay Village.
It is estimated that Southside BID levies will bring in an extra £1.75m over its five-year lifespan before a vote is taken whether to continue.
The Southside BID was promoted by the Southside Steering Group consisting of key businesses and community organisations and chaired by Stuart Griffiths, chief executive of the Birmingham Hippodrome.
He said: “This is a very positive day for businesses in Southside. With the establishment of the BID, we will now be able to deliver a whole range of enhancements to the area that will improve the experience of those who work and visit here and also unlock Southside’s ability to attract more investment, employment and visitors.
“I believe today’s resounding result in favour also demonstrates that businesses understand the real difference that a BID can make to an area.”
There are five BIDs in Birmingham: Broad Street, Colmore Business District, Retail Birmingham, Erdington and Kings Heath.
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