Following the ballot process for a Business Improvement District (BID) in Bromley, the majority of eligible businesses voted yes. This means that the town centre will now receive a minimum of £3 million in additional investments, which will help to further improve its facilities and services.
The ballot process was held over a period of four weeks, and the final result was a resounding success for the YES campaigners. More than 85 per cent of the 183 votes that were cast were in favour of a BID.
With a BID in operation, businesses in the town centre will get more of a say in how it is managed. Bromley Council has been in favour of the BID initiative, having approved it in the summer. They provided a council grant of £80,000 to enable the Your Bromley BID company to put together a business plan. The company also received a £20,000 grant through the Mayor of London, which went to the BID development.
Your Bromley BID will come into operation from next April and has a term of five years. It covers an area that includes the local shopping centres, Pedestrian High Street, Bromley South, Bromley North Village, Elmfield Road Business District and Upper High Street. You can find further information on the Your Bromley BID website.
Were you eligible to vote in the Bromley BID ballot? How do you think local businesses will benefit from the investment?
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