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Romford Town Centre businesses say ’Yes’ to a Business Improvement District

Published: Friday, 29 June 2018

Businesses and organisations in Romford Town Centre have made their voices heard and have voted in favour of taking more control over their futures by setting up a Business Improvement District (BID).

Business Improvement District
Romford votes yes to the BID

Businesses and organisations in Romford Town Centre have made their voices heard and have voted in favour of taking more control over their futures by setting up a Business Improvement District (BID).

Ballot results released by the independent scrutineer, Electoral Reform Services, revealed that 80% of all those who voted are in favour of the BID progressing. For the BID to be successful, a second trigger ‘majority by rateable value’ was also required and this was achieved with 88% of those who voted.

It is anticipated that the BID will commence from Autumn 2018 for a five year term and will be financed through a BID levy, the proceeds of which will be invested into the town centre and on the additional projects that businesses have identified and as set out in the Romford Business Plan. Over the five years of the BID will be generate over £3m to be spent in the BID area.

Tom Stobbart, Chair of the Romford Town Management Partnership said

“'This a great result for all involved and allows to improve still further over the next 5 years through the proposals detailed in our plan. I would like to thank all involved for their time and support in making a real difference to Romford’s future. The real work starts now in delivering the new initiatives and the team aim to get started immediately.”

Councillor Osman Dervish, Cabinet Member for Environment, said:

“The Business Improvement District is great news for businesses in and around Romford.

“The Council is really excited to support RTMP with the BID and we hope it will create a better place for local businesses to thrive. We wish it every success."