Business Improvement District
Lancing Business Park BID continues for another 5 years.
On Thursday 19th July, Lancing Business Park successfully secured a further 5 year tenure for the Business Improvement District (BID) from businesses within the park. The ballot turnout was 56%; the total number of votes in favour was 77.5% and the aggregate rateable value was 85.4%.
The Lancing Business Park Committee, mindful of the current economic climate, had asked existing businesses to recognise the essential work that had been achieved during the past five years, such as implementation of CCTV system comprising 15 cameras including number plate recognition technology, and to vote for this work to continue and enhanced.
The YES result was good news and it puts Lancing Business Park in a much stronger position when the economy does eventually pick up bearing in mind the improvements already implemented. One of the plus points of the proposed business plan was a 15% general levy reduction over the next five years due to much of the capital project work having been completed during the first five year programme and an introduction of a minimum threshold for levy payers.
Iain Flitcroft, Paula Rosa–Manhattan said: “We have been based on the Lancing Business Park since 1965. Since the introduction of the BID five years ago, we have witnessed a tremendous improvement in the area as we don’t have to rely on the cash-strapped local authority to make improvements.
We look forward to seeing the continued improvements and working in partnership with the local authority so we can feel proud to invite our clients and investors to the business park.”
Background to the BID (Business Improvement District)
Traditionally set up in town centres but more recently in business parks and industrial estates, the BID (Business Improvement District) is a specific levy for projects identified and controlled by the businesses. It can only provide additional improvements and benefits to services already provided by local authorities. It cannot subsidise or substitute the existing provision by public agencies.
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