A ballot has been held of businesses in Loughborough town centre about whether Loughborough BID (also known as Love Loughborough) should continue for a second five-year term.
The ballot result (declared on Friday, October 28 2016) was in favour of the BID team continuing for a second term and the result was as follows:
- Total number of votes cast in the ballot, excluding any given on ballot papers rejected: 312
- Aggregate rateable value of each hereditament in respect of which a person voted in the ballot: £9,830,500
- Total number of votes cast in favour of the proposed Business Improvement District for Loughborough Renewal: 224 (71.8%)
- Aggregate rateable value of each hereditament in respect of which a person voting in the ballot has voted in favour of the proposed Business Improvement District for Loughborough Renewal: £6,692,900
- The turnout was 56%
In order to secure a second term, the proposal had to be supported by more than 50 per cent of those who voted and 50 per cent of the rateable value of the businesses.
The official declaration document is below.
Loughborough Bid Renewal Result 2016 (PDF Document, 0.1 Mb)
The Love Loughborough BID was set up in February 2012 following a vote of town centre businesses. It represents 600 businesses across all sectors that each pay an annual levy to fund the improvements. A board of Directors made up of BID Businesses oversees the delivery and management of the scheme.
For further information on BID Loughborough visit www.loveloughborough.co.uk
2011 Loughborough BID Ballot Result:
- Total number of votes cast in the ballot: 234
- Aggregate rateable value of each business: £6,269,614
- Total number of votes cast in favour of the proposed BID: 153 (65% of businesses who voted).
- Aggregate rateable value of businesses which voted in favour of the proposed BID: £3,371,800 (54%)
Last updated: Tue 19th December, 2017 @ 09:39