Two of the earliest Business Improvement Districts have been given a vote of confidence from the levy payers. Paddington BID and Bristol Broadmead have both won their renewal ballots.
Paddington achieved a yes result with 82.6% of businesses voting in favour of the proposals, representing 89.7% of rateable value. The turnout was 46.5%.
The Paddington BID has a differential levy rate - 1.5% for hotels and 2% for all other businesses. The BID had been previously established for four years and the renewal comes for another four years at the same levy rates.
Stakeholders in the Bristol Broadmead BID voted positively to renew the BID with a yes result with 55% of businesses voting in favour of the proposals, representing 55% of rateable value. The turnout in Bristol however at 53% was more than half of the business population in the area .
Broadmead was initially established for a term of 3 years. The BID has now been voted in for 5 years and continues at a 1.5% levy.
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