Businesses deliver a big yes for a better Paddington
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PRESS STATEMENT FROM PADDINGTON BID, THE BUSINESS IMPROVEMENT DISTRICT FOR PADDINGTON
31 OCTOBER 2008
BUSINESSES DELIVER BIG YES FOR A BETTER PADDINGTON
82.6% of businesses vote YES to renew Paddington Business Improvement District (BID).
Today it was announced that 82.6% of Paddington businesses voted YES to renew Paddington Business Improvement District and 89.7% of businesses by rateable value voted YES. Turnout was 46.6
With such a large majority of local businesses having voted YES, Paddington BID can enter its second term with an impressive mandate, continuing to create a more attractive, safer and better promoted Paddington, giving a greater voice for local businesses.
The BID will continue for another four years, from April 2009 to March 2013, delivering under five main themes to help regenerate the Paddington area:
- Achieving a more attractive Paddington; the BID proposes to fund streetscape improvements to spaces such as Sussex Gardens, and improve the general appearance of the area through greening schemes.
- Creating a safer Paddington; the BID proposes to continue funding its Community Safety Team which has contributed to a marked reduction in street drinkers, vagrants and prostitution in the area. In addition the CCTV system is to be expanded to cover more of the Paddington area.
- Delivering a ‘greener’ Paddington; by continuing the successful commercial waste recycling scheme. Recycling collections will be more frequent in the BID's second term and will be expanded to include other items such as batteries, glass, IT and furniture.
- Working for a better marketed Paddington; including a variety of marketing and promotional tools to boost Paddington’s image as a place to visit, stay and do business. Paddington, with its 100 hotels and Heathrow Express rail link, will be one of the key gateways into London for the 2012 Olympics.
- Finally, Paddington BID will continue to represent local businesses; by providing a strong and effective lobbying voice, through initiatives such as the new Crossrail Business Liaison Panel, set up to give BID businesses a say in how Crossrail is implemented in Paddington, following the BID’s petition in respect of the Crossrail Bill.
Kay Buxton, Chief Executive of Paddington BID said:
“This is a great result for Paddington. I am particularly pleased to see a large majority in support of our plans for the BID’s second term and the good level of turnout – demonstrating the level of commitment from businesses and the high degree of participation.”
“Paddington can now look forward to a further £1.9 million of additional investment over the next four years. We will continue to deliver environmental improvements, our popular recycling service, dedicated police community support officers, CCTV, and a range of events and measures to promote the area.”
Maxine Chapman, Chair of Paddington BID, Partner in M&L Associates in Bouverie Place said:
"The yes vote to continue the BID is fantastic news for Paddington. By voting yes, local businesses – many of them small and independent - have told us they are happy with what the BID has achieved and want to see it continue. The extra investment will make Paddington an even better place to be. This key area of London is a great place to do businesses, work, visit and live.”
“The next four years will see many changes to Paddington and it should see vast improvements which will benefit us all. Now we can get on with building a more prosperous Paddington."
Notes to editors
Paddington BID
In February 2005 businesses in Paddington voted yes to establish Paddington BID, one of the first in the UK. Under the government’s BID Regulations (England and Wales) 2004, BIDs can only last for a maximum of five years, before re-balloting businesses on whether a BID should continue.
Now businesses have voted YES to Paddington BID’s renewal, it will last for another four years, to 31 March 2013. It will only provide services that those businesses want, who have been consulted on the development of the BID's renewal proposals. Paddington BID will continue to deliver key projects and services such as its recycling scheme, dedicated community safety team, CCTV system, environmental improvements and range of marketing initiatives. The improved services will benefit local businesses, the local residential community and visitors to Paddington and will be additional to the services already supplied by Westminster City Council and the Metropolitan Police service.
The renewed Paddington BID will raise its funding through a levy on all businesses with a rateable value of more than £14,999. Hotels pay 1.5% of rateable value annually, all other businesses 2%. Charities receive the same charity relief as they do from business rates. The BID will raise an average of £450,000 each year to spend in Paddington.
The BID is overseen by a Board of Directors, who are representatives drawn from local businesses. It is run by businesses, for businesses.
More details are available at: www.paddingtonbid.co.uk-
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