Colmore Business District BID enters the ballot stage

A decision as to the future of the Colmore Business District gets closer this week as all eligible voters in the BID area receive their ballot papers. Following a build up period in which the objectives for the BID have been developed and consultation with eligible firms and property owners has taken place the ballot papers will be distributed this week. Eligible voters will have until 5.00pm on February 27th to cast their vote. 500 companies employing almost 24,000 people fall within the BID area, which is one of the city's most famous and established business areas. Colmore Business District plays a key part in the Big City Plan which is currently under consultation. Ballot papers will be independently collated and scrutinised by Electoral Reform Services and the result will be announced on March 2nd. If the BID is successful it will commence on April 1st 2009 and run for a period of up to five years. For the vote to be successful it must secure a majority in favour both in terms of those who vote and by the rateable value. The BID objectives will be financed by a 1% levy invoiced annually and collected by Birmingham City Council then passed to the Bid Company to administer. It is anticipated that over the five year period at least £3.4 million will be generated to fund the BID objectives. If the Colmore Business District BID is successful it will join two other existing BID's in the city, the Broad Street BID and Retail Birmingham. Commenting on the latest stage in the BID process Chief Executive of Birmingham Forward, Richard Brennan said; "We have spent a great deal of time talking and consulting with firms within the area to ensure that we have a workable, realistic and comprehensive set of objectives for the BID that will demonstrably improve the area for firms, their staff and for the high number of visitors who come to the Colmore Business District. We believe we have achieved that and it is now for the voters to have their say. There is no doubt that whichever example you look at, in the UK or elsewhere, the benefit to an area that secures a BID is significant." Since the launch, more local businesses and organisations have indicated their support for the BID. David Tuck, Regional Office Head, Weightmans LLP said; "We are confident that the combined investment of additional resources and effort will be good for our business, staff and visitors and the District as a whole." Mike Kimmons, Chief Executive of St Philip's Chambers said; "The more we hear about the BID the more we are in favour of it." Terry Peate, General Manager, BADGER Group, Whittall Street said; "Having read the Proposal for the Colmore Business District, it looks like an excellent and exciting piece of work and we can see the many benefits that a BID could bring to our area. We will be voting for it."