Local Businesses launch Streatham regeneration programme
1:09pm Monday 11th March 2013 in News
Businesses in Streatham are celebrating the news that the proposed Business Improvement District (BID) was successful at ballot.
At 1pm, the Mayor for Lambeth, Cllr Clive Bennett, made the announcement that the BID had won an 80% majority vote of the turnout, and 85% of the rateable value.
The new organisation, in Streatham, will invest over £1.25m in Streatham over the next 5 years, over four key areas identified by the businesses.
These include the look and feel of the high street, improving security and crime prevention tactics, a programme of events and markets to boost footfall around shops and increased marketing and promotion to support the night time economy.
Streatham’s Steering Group Chair, Lee Alley, commented “The Management Committee and Campaign Team are delighted that the businesses of Streatham chose to support the BID and vote favourably for it’s initiatives.
"The results clearly state that the businesses wish to have a key role in the regeneration of the area, and take steps themselves to develop a safer, brighter, better Streatham, in a way that's more cost effective for them.”
Angelina Purcell MBE, Streatham’s Town Centre Manager, said “I am delighted that 3 years worth of hard work and team effort has resulted in this fantastic result.
"Streatham as a location is on the up and the Business Improvement District will allow businesses to play an instrumental role in its future success.
"Well done everyone and let’s look forward to a more vibrant, attractive and economically viable town centre!”
Chuka Umunna, the MP for Streatham and Shadow to the Secretary of State for Business, innovation and Skills, had been campaigning for the BID as an avid supporter.
Umunna commented “It is absolutely fantastic that local businesses have voted to create a Streatham Business Improvement District - "inStreatham".
"We are hugely grateful to the many people who have worked incredibly hard to make this happen.
"I backed this initiative from the very beginning because I passionately believe that inStreatham will be able to make a huge difference to our area and have a tremendously positive effect on the future of the High Road.
“It has been an absolute pleasure having the opportunity to talk to so many hardworking local business owners over the last few weeks while campaigning for a ‘yes’ vote in the ballot.
"I am looking forward to working with inStreatham to secure the best future for local businesses in our wonderful area."
inStreatham becomes the 28th BID in London, and the 150th in the United Kingdom.
BIDs now play a prominent role in the management and promotion of many of the capital’s key business locations, particularly in a time of economic austerity with further planned cuts to police and Council budgets."
The BID will now seek to recruit a new Board membership who will be responsible for steering the BID towards effective management of the town centre.