Chelmsford could become the next city have a BID after councillors approve the scheme.

The 'One Chelmsford' proposals were passed during a Chelmsford Cabinet meeting on Tuesday November 21, meaning that businesses will now be given a vote on whether to have a Business Improvement District - more commonly referred to as BID.

If successful, Chelmsford will join more than 270 locations in the UK that now have a BID in place.

A BID is a defined area within which businesses elect to pay a levy in order to fund projects within the district’s boundaries.

BIDs are funded primarily through this levy but they can also attract significant extra funding from other public and private funding streams.

In order to implement a BID, the proposals must be voted on by businesses who would pay the levy and the ballot must be won on two counts: a straight majority and majority of rateable value.

This ensures that the interests of large and small businesses are
protected.
In Chelmsford’s case, the area will involve more than 450 businesses and is anticipated to raise more than £3m for investment in the City Centre over the course of its five-year term before a chance for renewal.

Leader of Chelmsford City Council, Councillor Roy Whitehead, said: “It is great to see businesses in Chelmsford getting together proactively to set up a BID.

"The Cabinet was pleased to see the amount of effort that has been put in to create their proposals.

"Chelmsford City Centre has benefitted from investment in recent years and a successful BID will help to keep this momentum and bring significant further benefits to businesses, visitors and residents.”

Following agreement by the City Council that the ballot can take place, the BID proposals will be officially launched by December, with postal polling running for about four weeks from mid-January to mid-February.

If successful, One Chelmsford is expected to start operating from April 2018.

Neil Ridley, Chair of the One Chelmsford steering committee and representing Bond Street and Aquila, said: “It is fantastic that the City Council has agreed for the ballot to take place – it’s an important milestone.

"We have conducted a detailed survey of the local business community to get to this point so weare looking forward to everyone having the chance to vote formally on the proposals.

"Our work so far has shown a large amount of support."

“One Chelmsford will mean investment of over £3m to deliver our pledges over five years, as well as attracting funding from other sources.”