The Central District Alliance Business Improvement District (BID) is to hold a ballot next year on plans to renew its five-year term, with an expanded area that would take its new boundary up to Gower Street and Euston Road.
This week Cllr Sabrina Francis, Camden Council’s cabinet member for jobs, young people and culture, approved the proposal by the organisation which works in a public-private partnership with the council.
All businesses with a rateable value (RV) of £180,000 or more will have to pay a levy of 0.8 percent of their RV whether they voted in favour of the BID or not. Registered charities will receive an 80 percent discount.
With an income of up to £15mn over its five-year term the BID will provide services for its members including lobbying local and central government for investment.
The Central District Alliance was previously known as the Midtown BID and has expanded since its inception to include Farringdon and Clerkenwell in the London Borough of Islington.
Ballot papers will be sent to eligible businesses in early 2025. If successful, more than 40 additional streets will be included in the BID area the new BID term will start on 1 April 2025.
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