Businesses vote ‘Yes’ to BID renewal planNov 04, 2019
Luton town centre
BUSINESSES in Luton town centre have voted in favour of plans to renew the town’s Business Improvement District for the next five years.
The ballot means a further £2million to be spent on improving the area. A total 68% of businesses by number and 73% by aggregate rateable value voted in favour of the BID.
The new B ID comes into effect on January 1 2020 and businesses with a rateable value of £12,001 or above will pay a levy based upon their rateable value, creating a collective fund of more than £2 million to spend over the next five years on projects across four agreed priority areas: promotion of the town centre, its environment, the experience it delivers to visitors and residents, and its growth and prosperity.
BID chair Gavin O’Brien said: “This is excellent news for Luton and huge congratulations must go to all the businesses that joined forces to ensure we secured the yes vote.
“Our BID will continue to be led and driven by the businesses themselves and this funding and commitment of collaboration will enable us to build on the area’s already established strengths and assets.
“Our thanks must also go to all those who engaged in the process by sharing their ideas and opinions on how we can continue to deliver and improve on the first five years of the BID and who, ultimately, voted in favour of the plans.”