Ballot Results

The ballot

1. Southampton City Council will send all those responsible for properties and eligible
   hereditaments in the BID area a ballot paper(s) on 14 October 2021.
2. For each property or hereditament that you are a ratepayer for, you are entitled to one postal vote. The ballot will open on 14 October 2021 and close at 5pm on 11 November 2021. Ballot papers received after 5pm will not be counted. The result of the ballot will be announced on 12 November 2021.
3. For GO! Southampton to be re-elected, the result will need to meet, as a minimum, two independent criteria:
   (a) of those ballots returned by the closing date, those voting in favour must exceed those
   voting against it.
   (b) of those ballot papers returned by this date, the total rateable value of those properties or hereditaments which vote in favour must exceed the total of those voting against.

The levy

1. All owners of properties or hereditaments with a rateable value of £19,000 or more will be required to pay the levy.
2. The BID levy will be calculated using the rateable values in the 2017 Non-Domestic Rating List for the whole five-year term (except where explicitly mentioned otherwise).
3. The levy rate is 1.56% of the rateable value for each property or hereditament, as detailed in the 2017 Non-Domestic Rating List.
4. Occupiers within Westquay, The Marlands, West Quay Retail Park, Mountbatten Retail Park and Studio 144 who are subject to a service charge will pay 1.46%.
5. Where a hereditament falls into the Non-Domestic Rating List after 2017, the hereditament’s most recent rateable value on the list will be used to calculate the BID levy.
6. The number of properties or hereditaments liable for the levy is around 645.
7. From 2023 onwards, the rate will be amended on an annual basis in line with inflation. This will not exceed the average annual national Retail Price Index (RPI) or the Consumer Price Index (CPI), whichever is the lower, measured at September in the preceding financial year.
8. The owners of untenanted properties or hereditaments will be liable to pay the levy.
9. Charitable organisations will receive an 80% reduction in the levy. This excludes retail premises.
10. Non-levy payers will have the option to become voluntary associate members of the BID.
11. Southampton City Council will be responsible for collecting the levy. The collection charge will be £22,000 each year. This equates to £34 per hereditament and 2% of the anticipated billed levy.

Finances

1. The BID team has adopted a cautious approach to the indicative budget for the renewed BID term. This is based on historic and likely future trends.
2. A levy collection rate of 95% has been assumed.
3. The average annual levy available for the BID for the second term will be £1,236,996.
4. The Finance and Scrutiny Committee is a standing committee of the GO! Southampton Board, which oversees compliance with the BID’s financial policies and procedures.
5. During the last term, the BID secured more than £1,000,000 in additional revenue and in-kind contributions. The budget for the next term takes into consideration committed amounts only. This totals 4% of income, but the BID plans to generate significant further investment above and beyond this.
6. Operating costs of the BID are estimated at 20% of total expenditure.
7. The BID is a not for profit organisation.
8. The BID deliver services that are in addition to services provided by Southampton City Council

Accountability and transparency

1. The BID will continue to recognise the importance of accountability and transparency within its governance arrangements. The BID is undergoing accreditation against The BID Foundation Industry Standards.
2. The BID is governed by an independent Board of Directors. Elections to the Board will be held at the AGM and all members of the BID will be eligible to run for election.
3. Provided that the BID is meeting its overall objectives, the Board has the option to vary service delivery and expenditure allocation to meet the changing demands of businesses. However, an alteration ballot would need to be held if large-scale changes to service delivery were planned.
4. The BID will file annual accounts, compiled by independent accountants, at Companies House. The accounts will, therefore, be available to all levy payers. We will provide information to  businesses on BID activities, including our finances, through an annual report and AGM. The BID has agreed an operating agreement, which includes the council’s baseline statements of what they will deliver, with Southampton City Council.

The Regulations

Established in 2004, the BID Regulations can be found here and are a crucial document for all BIDs.