Fresh ballot on cards for Penrith BiD

Fresh ballot on cards for Penrith BiD.

Penrith Business Improvement District (Penrith BiD) held a 3rd term renewal Ballot of business levy payers in the town centre area on the 30th of November with the question of should the BiD be renewed for a third term lasting 5 years.

The vote had the majority of business casting ballots in favour of the Penrith BiD renewal however the legislation requires a second threshold test be passed with 50% of the rateable value voting to also vote YES.

In the Ballot held on the 30th this was not the case with the rateable value voting No despite only 16 votes holding the greater rateable value resulting in the third term vote been declared a NO.

The Penrith BiD board held a meeting over the last week and have agreed to propose a fresh BiD proposal and ballot in the new year.

The Chair of Penrith BiD Darren Broad has said “After careful consideration and with the support shown, we believe the loss is too great to our town and we will continue to fight for a BID as it gives us the best opportunity for our voice to be heard, especially with a new authority next year.

I am pleased to announce that at last week's BID board meeting, Directors unanimously voted to go for a new vote next year, giving everyone another chance to have their say.”

Its understood that any new proposal for a BiD cannot be proposed for 18 weeks after the date of the last ballot that then requires a 84 days’ notice before the intended ballot date to be submitted to the local council and the secretary of state.

This would mean any new Ballot for a new Penrith BiD would take place at the earliest in July 2023 with the new Westmorland and Furness council that will replace Eden council on the 1st of April responsible to approval of any new BiD proposal and referendum.

The Current Penrith BiD term ends in April 2023 as a result of the failure of the renewal ballot on the 30th of November 2022. Penrith’s Second BiD the Penrith Industrial BiD that covers the industrial estates in Penrith is also due to go for renewal Ballot over the next few months.

Its understood the proposal for the Penrith Industrial BiD ballot will included a plan to increase the industrial BiD area to include land under development around the industrial estates and changes to the rules around who can be directors on the industrial BiD.

The Evolve Penrith group has suggested that with the timings of the two BiD ballots it could be an opportune time for the two Business Improvement Districts, To explore come together and creating a single Penrith BiD and a proposal that works for all business and the economic benefit across Penrith with greater combined resources.