Cambridge BID elected for further five-year term
80 per cent of voters opted to continue business improvement district, which will now expand
Cambridge Business Improvement District (BID) has been voted in for a second five-year term.
It follows a renewal ballot of members in the retail, leisure, business and education sectors in which 80 per cent voted for the BID to continue. By rateable value, the proportion of votes in favour was 84 per cent.
Turnout was up from 35 per cent for the first term ballot to 45 per cent of businesses.
The BID supports businesses in its area through a series of initiatives, from creating a shopping guide to paying for Christmas lights.
It was first formed in April 2013 and will now run until March 2023.
Its area will now expand to include the new CB1 business district.
Ian Sandison, chairman of Cambridge BID, said: “This is excellent news for Cambridge as it means that £4.5million of investment will be generated for the city over the next five years.
“We are very pleased with the outcome and look forward to delivering our existing projects as well as the services and initiatives outlined in the exciting new business plan.
“Our vision is to create a world-class experience for all who visit, live and work in Cambridge, a global city.
“I would like to take this opportunity to thank the business community for showing faith in the work of Cambridge BID, as well as our partners such as Visit Cambridge & Beyond, Cambridge City Council and others with whom we have worked closely and will continue to do so.”
Cambridge BID created the ambassador scheme in the city centre, offering advice and guidance to visitors, and also offers savings on utility bills to member companies through group buying.
Mr Sandison, owner of Boudoir Femme, has promised a dedicated fund for independents in the BID zone during its second term, and has pledged to promote the city as the region’s premier destination.