Why is there a postal ballot in February 2018?
A BID can only be set up through a ballot of businesses who will pay the levy. In order for the BID to come into existence, a simple majority of those voting must vote in favour. Their votes must also represent a majority of the aggregate rateable value of the properties that vote.
How will the ballot run?
The conduct of the ballot is looked after by Haringey Council to ensure a free and fair ballot. If you wish to make sure that your ballot paper is going to the right place, you can get in touch with the Future Wood Green team to find out how.
How is the BID levy collected?
The BID levy will be collected by Haringey Council in a similar manner to Business Rates. It will be a separate bill and the amount will be ring-fenced and passed to the BID company to deliver these proposals. The levy is amended on an annual basis in line with inflation, at a rate to be agreed by the Future Wood Green BID board.
How will I know what my money has achieved?
Future Wood Green will be clear and transparent about how it is spending the money. There will be regularly updated information about income and expenditure available to all members of the BID and clear metrics will be established to measure its success. All eligible businesses will be invited to the AGM.
Why do my business rates not cover this?
A BID in Wood Green will be a business-led, business-funded initiative with funds that are managed by businesses. It provides services that are in addition to those offered by the local authority and other statutory agencies. The BID will sign a baseline agreement with Haringey Council that establishes what the local authority already delivers and will monitor this agreement. A draft of this agreement can be viewed on our Downloads page.
How can I be represented?
Future Wood Green will be a new non-profit company limited by guarantee. The first AGM will take place within the first year after the BID starts its work on 1st July 2018. All businesses that are eligible to vote and pay the levy may become members of the company. Any member can stand for election to the board.
Can I get involved even if I do not automatically qualify to pay the BID levy?
Businesses whose rateable value is £12,000 or less, or who are just outside the BID area, will still be able to get involved by choosing Voluntary Membership and paying a voluntary contribution to receive the same benefits as levy payers. These Voluntary Members will have the right to stand for election to the board.
How were the BID proposals developed?
For over a year, the business association of Wood Green has been meeting and discussing ways to address the problems the area suffers. After consultation with the council it was agreed that the best approach to revitalise Wood Green and attract new businesses and customers was to set up a BID. An initial feasibility study interviewed over 115 organisations, with an open follow-up ‘visioning’ event. Following this, a dedicated Steering Group has worked to develop the proposals further.