Why is the CBC running a ballot in July 2014?
If the CBC plans to create a BID, we have to run a ballot of eligible businesses. The ballot asks a simple question: Are you in favour of the proposals for the Clapham Business Improvement District? In order for the BID to come into existence, the simple majority of those voting must be in favour.
Am I eligible to vote in the BID ballot?
If your business premises falls within the proposed BID area and has a rateable value above £8,000 you are eligible to vote in the BID ballot.
How will the Clapham BID be funded?
The Clapham BID will be funded by an annual levy of 1.5% of the rateable value on all eligible businesses. So if the rateable value on your business premises is £20,000, you will pay £300p/a. Businesses licensed to serve alcohol after midnight will be charged an additional 0.75% or 2.25% in total. If your business has a rateable value of £20,000, you will pay £500. Registered charities will receive a discount of 80%.
Why are late night businesses charged more in levy?
Clapham has a popular late night economy that attracts people from all over London and the South East of England. To ensure the CBC has the resources it needs to better manage the night time economy we are proposing that businesses with a license to serve alcohol after midnight will be charged an additional levy of 0.75%.
How is the levy collected?
The BID levy will be collected through the current Business Rates system, but will be the subject of a separate bill.
How long does a BID last for?
A BID lasts for five years, meaning guaranteed investment in Clapham until 2019. If businesses want the BID to continue beyond 2019 you can make this decision with a further ballot process.
How can I be represented?
If our ballot in July 2014 is successful, the Clapham Business Community will be reconstituted as a new not-for-profit company limited by guarantee. The first AGM takes place in the first year following when the BID starts, which is on 1 October 2014. All businesses who pay the levy can become members of the new company.