BE PART OF THE STORY FIVE YEAR PLAN: 2021-2026 - WEAREWATERLOO
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BE PART OF THE STORY FIVE YEAR PLAN: 2021-2026
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427 About us
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WeAreWaterloo is a Business Improvement District (BID). Voted
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business community with the sole purpose of improving Waterloo
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as a place to work, live and visit.
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and neighbourhood marketing campaigns.
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A BID is a specific geographical area where businesses
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work together and invest in agreed services, projects
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and special events.
Are they a new creation? Sounds good… What now?
Not at all! WeAreWaterloo was established BIDs run in five year terms, and
r a full list of in 2006 following a vote by local businesses. WeAreWaterloo is seeking your
Fo
ames In fact, BIDs are commonplace in most support to enter into our fourth term.
street n isit: UK towns, and in cities across Europe and A ‘YES!’ vote is essential if you
please v ewalhub the United States. The majority of UK city want to continue to see
n
bit.ly/re
centres now have BIDs – including Liverpool, improvements locally, and
Birmingham, Leeds, Newcastle, Sheffield ensure your voice is heard.
Contents and Bristol, as well as many here
in London. How do I vote?
O1 About us 14 Waterloo Walkway What h
lined u ave you g
Voting opens on 18 January 2021.
What’s in it for me?
O2 A word from our chair 15 Lower Marsh Market Timed Closure When you receive your ballot paper,
next fi p for the ot
As members, you own the BID. simply fill it out and return it in the
O3 Meet the team 16 Don’t just take our word for it Businesses within our locality play a
key role in deciding which projects and
envelope provided by 18 February.
An in-depth explanation (and ve yea
O4 New term: New ideas 18 The countdown begins initiatives should go ahead. Essentially, timeline) can be rs?
a BID helps you to shape your local found on page 18.
O6 Enhance the Environment 19 Your contribution to the BID area and have a say in its future. All
funding generated through the BID
O8 Celebrate and Promote 2O Management and Governance is ring-fenced for the benefit Read on to find out…
of Waterloo.
1O Connect and Represent 2O Budget and projections
12 Lower Marsh Market 22 FAQs 1
a Word from Their personnabalend
our chair
approach, fueas,
engaging id ride
and palpable phas
in the area pe
helped sha
Waterloo.
ival
AULT Fest
r and Dir ector of V
rge, Founde
Andy Geo
Collaboration is the MEET THE TEAM
key to our success The BID’s projects and services are delivered by an experienced
A message from the Chair of WeAreWaterloo Business team, but what’s their one-word description of Waterloo?
Improvement District, Michael Johnson.
Waterloo is a vibrant, dynamic and lively area, steeped
in fringe culture and independent eateries, not to mention
It is important to be clear; only a ‘YES!’ vote by
18 February 2021 will ensure that these improvements
U nexpected Eclectic BOARD MEMBERS
one of London’s oldest street markets (Lower Marsh Market) to Waterloo are rolled out effectively. Failure to act Natalie Raben Alex Butt Michael Johnson - Chairman; Nagan Johnson
and the UK’s busiest railway station. But what sets Waterloo will result in these services ceasing to exist. The business Chief Executive Head of Public Realm
apart from other central London locations is its sense of pride, plan is realistic, with crucial targets outlined, and we truly Nick Rampley - Independent
natalie@wearewaterloo.co.uk alex@wearewaterloo.co.uk
progress and collaboration. Working together over the believe it offers a solid return on investment. COVID-19 has Rachel Beach - London South Bank University
Community Vibrant
past 15 years, business owners, local stakeholders exemplified the value that BIDs offer in responding quickly to Hugh Rosen - Bourne Capital
and WeAreWaterloo BID have brought about a dramatic changes to the trading landscape. Their readiness Liz Sillett - The Old Vic Theatre
tangible sense of change for the community. to provide support during times of economic uncertainty has Magdalena Chapman - The Walrus Bar And Hostel
hopefully brought you some confidence. I hope you will give
From encouraging visitors to the area with outdoor summer the proposal your full support in the new year and allow
Harrie Notton Lina Valle Charles Tyler - Paladar
and winter festivals, to ensuring that Waterloo is safe and WeAreWaterloo to commit themselves to another five years Head of Marketing and Strategy BID Support Officer Al Lewis - CAFOD
inviting by investing in a wealth of public realm improvements working with you for a better Waterloo. harrie@wearewaterloo.co.uk lina@wearewaterloo.co.uk Manoher Matharu - Gardner Stewart Architects
Buzzing
or connecting its ever-expanding business community via a Axel Krueger - Park Plaza London Waterloo
range of in-person and interactive networking events, the
results thus far have been impressive… but there is
much more to do. After consulting with WeAreWaterloo
Michael Johnson
Chair of WeAreWaterloo Business Improvement
Magic Camilo Salazar - Morley College and Morley Radio
Felicity Maries - Oasis Waterloo
Eshan Price Nat Day Glenn Kesby - 1901 Arts Club
members, we have developed a robust proposal and business District and Founder of Nagan Johnson Architects
plan for the next five years, ensuring that business owners’ Lower Marsh Market Team Leader Engagement and Outreach Officer
priorities and key challenges are addressed, and needs eshan@wearewaterloo.co.uk nday@wearewaterloo.co.uk Board Observers
are met. Cllr Ibrahim Dogus - Lambeth Council
Cllr Graham Neale - Southwark Council
Whether you want to see an increase in greening, security,
accessibility and public art provision, more outdoor events
or a dedicated focus on CSR initiatives and the wellbeing
of your workforce, in addition to a continued commitment
to save you money via our partnership with recycling
and waste management provider, First Mile, we
hope we have reflected your views
in this document.
2 wearewaterloo.co.uk 3
NEW TERM: 10o%
What can
NEW IDEAS 8o% we give you
more of?
6o% WeAreWaterloo’s Business
Leaders Survey 2020
4o%
174
We ran a series of consultations and events in early 2020 to get a
2o%
better understanding as to which direction levy payers would like 92% 80% 68% 64% 48 %
O% responde number of
to see the BID’s work go in. Networking Digital Summer PowWow STAR Card
Survey a nts (Employee
events marketing food festival Waterloo
Leaders nd Business
We surveyed employees of Waterloo businesses and ‘business leaders’ (CEOs and General Survey)
Managers) while also consulting with our Board and our Steering Groups. In the midst of all
of this we, of course, brought everyone together for an informal evening of discussion,
t’s missing? How clean
Wha Waterloo? is
proving that the Waterloo business community does indeed wear many hats.
26%
We then crunched, analysed and assessed all of your comments and shared it on g o n S h o p p in
mpari s 15%
our website in order to gain one last round of feedback before producing this proposal. Variety of Co WeAreWaterloo’
space/t re e s
13% s Employee Ver y
More green k y p la c es Survey 2020 dirty
ndents/q u ir
More indepe 11%
Spoiler alert! More eating
options 8%
Addressing
h o m e le s s n e ss
8% Fair
The following pages will reveal in greater detail the feedback we received.
ets /m o re b in s
5% dirt ly lean
Cleaner Stre y yc
Remember, we will always consult members before implementing
new programmes and services. You, the members, own the BID, and will
Cleaner air 5% r
always sit in the driving seat. Here’s a snapshot of what you told us...
Nightlife/go
od p u b s 4% Ve
theatr e , e tc 4%
Live music, gro ce ry shoppping Neither
r affo rd a b le
Food shops fo
e Survey 2020
WeAreWaterloo’s
Employe
a irly
F an
cle
35
10o%
9o%
businesses are 8o%
represented on our Board
and Steering Groups 7o%
Busines
30
6o% summe s
dees school r s
atten siness 5o% Businesrs
e
r Bu t
mat st
at ou Event breakfa
ers 4o%
Lead
3o%
How aware 2o%
are you 1o%
of each O%
service?
Lower Marsh Annual STAR Card Walking Volunteering Business Wellbeing
Market events maps development events
WeAreWaterloo’s Employee Survey 2020
4 wearewaterloo.co.uk 5
ENHANCE THE CLEANING
ENVIRONMENT Subsidised and free recycling for 208 Waterloo
businesses. Switched to a pay-as-you-go model
resulting in more BID savings for reinvestment in
other areas. Individually each business on average
saves approximately £734 over the course
of a year.
WeAreWaterloo is focused on creating a Neighbourhood cleaning and maintenance brought
more sustainable trading environment for in-house to provide 1,272 more hours per year
spent beautifying Waterloo.
businesses. We Enhance the Environment Consistent graffiti removal within 48 hours
and the area by ensuring it is clean, green, (approximately 450 tags removed/year).
safe, well-maintained and somewhere Sourced funds from developers to support the
creation of murals on construction hoardings
to be proud of, improving the visitor by local artists.
experience while attracting new
businesses and investment.
SAFETY
Establishment and continuation of a number of
regular forums including Licensing, Crime & Security
and a monthly Thursday Afternoon Briefing.
Introduced Waterloo’s first full-time neighbourhood
security patrol by partnering up with The Vaults.
STORY
Implemented a timed closure on Lower Marsh to
support safety and public realm improvements within
the Lower Marsh Market, as well as enhanced outdoor
seating options for Lower Marsh businesses. For more
SO FAR
information, see page 15.
Undertook a roll-out of lighting installations to
improve stakeholder experience at night time.
GREENING NEXT TERM? NEXT LEVEL
Urban planting team brought in house to provide 1,064
More grant applications to support Continue new security
more service hours per year spent greening Waterloo.
public realm ‘big ideas’. provision.
Continued maintenance of 138 planters – that received
Increase cleaning and greening Funky bins! Trash doesn’t
a new and improved pavement arrangement and look –
staff teams.
They have provided us with
along with 4 pocket parks. have to look trashy.
advice on refuse collection,
BID-owned electric servicing vehicle. Increase in street furniture.
Launched Greenways initiative on Cornwall Road
and help keep our area clean
through the grant-funded installation of pocket parks, Implement locally-sourced green More public art murals, which
public art, extra plantings and signage. walls and live lamppost columns.
Launching long-term projects such as public realm
and welcoming. also act as a graffiti deterrent.
More pocket parks. Implement tasteful cycle
improvements on The Cut and the GLA-funded
Jas Teensa, General Man
ager parking provisions.
Waterloo Walkway feasibility study. For more Continue free and subsidised recycling
of The Duke of Sussex
information, see page 14. scheme; potential to increase future
waste collection streams.
6 wearewaterloo.co.uk 7
CELEBRATE PROMOTE
AND PROMOTE Strong emphasis on destination marketing
supported by match funding.
Launch and growth of social media channels
with a regular rotation of rich content.
The diversity and character of Business promotion through the STAR Card reward
scheme, delivered in collaboration with South Bank BID
Waterloo’s community is what makes and targeting people who live, work and study in these
areas. There are currently more than 7,000 in circulation.
it so special. We Celebrate & Promote
the area and its businesses by Increase in newsletter frequency from monthly
to bi-monthly with an average Click Through
increasing footfall through Rate of 15%.
events and raising the profile
of Waterloo’s cultural and Redesign of neighbourhood walking maps, with a
retail offer, by positioning focus on the quirky and eccentric qualities of Waterloo.
it as a destination with its Launched original podcast, Views from the ’Loo –
own unique rebel with a with over 300 unique listeners – in order to publicise
local businesses and BID organised events.
small r identity. Social campaigns that champion BID members who
make the area what it is: ‘HeIs/ SheIs/
TheyAreWaterloo’.
STORY
Installed advertising board in
Waterloo Station, Waterloo
Road exit.
SO FAR
EVENTS NEXT TERM? NEXT LEVEL
Launch of PowWow Waterloo, an open forum event
Launch of accessible pop-up series ‘Pretty Vacant’ Increase in locally-sourced public art wayfinding
designed to introduce Waterloo to new audiences.
designed to enliven empty shop fronts while providing and placemaking murals and signage, including
creatives with temporary, subsidised opportunities. lamppost flags.
Partnership with VAULT Festival, also designed to bring
new audiences to Waterloo and convert these groups
Hosting an expanded portfolio of COVID-proof
into repeat visitors.
outdoor events such as ‘Lower Marsh Live’ and
outdoor screenings, while ensuring we expand the
Launch of revamped Christmas event, Miracle on
location footprint for our activations.
Leake Street, designed with offbeat elements to
attract all.
Year-on-year increase in the amount of footfall brought
to Lower Marsh for Waterloo Food Fortnight.
8 wearewaterloo.co.uk 9
CONNECT AND Continuing to provide access to timely and topical
information through the production of Business
REPRESENT
Matters Breakfast Briefings, B2B webinars and
members only briefings.
Creating relaxed environments for casual networking
opportunities amongst BID members.
Running EmploySE1, a free recruitment service
designed to connect local jobs with local people, in
WeAreWaterloo helps organisations reach the people partnership with surrounding BIDs: Team London Bridge
and Better Bankside.
who matter most. We Connect & Represent local
Launching Waterloo Business Summer School, in
businesses by providing frequent opportunities partnership with Morley College and LSBU, as a means to
to share knowledge and expertise, as well provide free external training opportunities for members.
as bridging ties with local government, Continued involvement in Build Studios, the BID’s
previously in-house, and now independent, incubator and
community groups and lots more to workspace for businesses within the built environment.
ensure that any decision-making
results in the best possible o
environment for businesses I feel that Watersloame
would not be thecare and
to flourish. without the love,they give
support that ity.
the commun
of Honour
or, Owner
Mandy Tayl
STORY
SO FAR
Continued efforts to expand the Corporate Social
Responsibility (CSR) portfolio, including the creation
of a CSR strategy. WeAreWaterloo has
NEXT TERM? NEXT LEVEL
Partnership with Waterloo Foodbank, to facilitate the
connected us to the local
monthly collection of non-perishable food items amongst community and local businesses, Increase focus on mental health and ‘Wellbeing in the
Workplace’ by amplifying B2B events such as morning
Amplify CSR activities through the
creation of a matchmaking service,
office employees. and really helped us feel yoga, mental health awareness training and designed to connect Waterloo
Establishment of designated charity partners for the at home down on mindfulness courses. businesses and charities
through volunteer opportunities.
BID’s annual event series. Lower Marsh. Continue to support Waterloo’s quirky character by
Kiki Evans, Co-ow
ner of Unwined fostering relationships with current businesses and Adapt free recruitment
Supporting small businesses through unprecedented service, EmploySE1, to
identifying opportunities through lobbying, funding,
times – such as COVID-19 – in a myriad of ways such evolve in line with the
marketing and partnerships.
as lobbying, grant applications and access to funding. changing demands caused
Increase in B2B networking events where businesses by COVID-19.
Acting as a conduit between businesses and the Council
can connect and share resources.
by lobbying on their behalf for a full range of services
such as licensing and public realm disputes.
Continue to offer support and guidance for small
businesses – particularly start-ups and SMEs in the arts
and creative industries – that may be gravely affected
10 by COVID-19.
wearewaterloo.co.uk 11
LOWER MARSH
STORY
MARKET SO FAR
WeAreWaterloo took over the management of Lower
Marsh Market in 2012 when stalls were scarce and Continued investment in Lower Marsh Market
footfall was at its lowest. Since then we have helped as a placemaking driver for the neighbourhood.
to develop and diversify the offer, attracting local Ongoing management of the mix of traders to
residents and workers, and encouraging them to ensure that a diverse array of cuisines are available
at affordable prices.
spend on the street during the day. Prime inclusion of Lower Marsh Market within BID events
such as Food Fortnight and Miracle on Leake Street.
Consistent offer of free lunchtime programming such
as Meanwhile Club, for arts and crafts, and Edible
Marsh, to encourage office workers to spend their lunch
break getting their hands dirty with planting activities on
the street.
Complete rebrand for Lower Marsh Market, including
the launch of a new website.
As a small ess,
s in
independent buo BID has
WeAreWaterlohelp to us.
been a great
John Lambert, Owner of Arena Hair
NEXT TERM? NEXT LEVEL
Build out lunchtime entertainment series with increased
marketing of free busking space.
Recruit more retail-based traders (non-food).
Ongoing investment in brand assets for the market by
working with local creatives and partners such as
the surrounding universities.
Continue to focus on public realm investments that
act as market assets such as planters with edibles,
decorative wayfinding on Tappy stalls, and
branded seating.
12 wearewaterloo.co.uk 13
Waterloo LOWER MARSH
walkway MARKET TIMED
The BID was originally formed to bring people directly
into Waterloo, which is exactly what we hope to accomplish
with these plans for the Waterloo Walkway.
What is the Waterloo Walkway?
It will be a pleasant, landscaped and accessible pedestrian
CLOSURE
After years of consultation, data gathering, analysis and
route from the rear/southern exit of Waterloo Station
surveying, the BID moved forward in implementing a timed
that will land people directly in the Waterloo neighbourhood
closure on Lower Marsh during summer 2020 in order to
at the juncture of Baylis Road and Lower Marsh.
safeguard market traders and visitors, while also creating a
pleasant and relaxing atmosphere for local lunchers. In order
When is it going to happen? to meet the needs of surrounding businesses, the BID opted
The BID was awarded a £30,000 grant from the for a timed closure approach so that delivery windows and
Greater London Authority (GLA) to fund a feasibility study for school pick-ups could be accommodated. As the project has
the project, so the team is currently hard at work, developing progressed, an evening window was added to the closure in
the brief and getting funders interested. order to facilitate extended outdoor seating options for
food and beverage businesses on Lower Marsh.
‘YES!Vote
ballo ’ at the
to se t box
conti e this
nue
This ill
tw
projecppear
disa t your
u
witho !’ vote
‘YES
14 wearewaterloo.co.uk 15DON’T JUST TAKE WeAreWaterloo has
to supporting our
been integral
charity, through
OUR WORD FOR IT
support, and
fundraising, practical
ips with our local
facilitating relationsh
business network.
has
terloo BID
WeAreWa ct both
to
sitive impa
made a po area in
ss and the
our busine lucky
n era l. W e‘ve been
ge ublic
For an g h to c re ate some p
lly indep enou d Lower
been rea busin enden and aroun
We have aterloo’s BID’s e ss like o t murals on ed grow
WeAreW u t have help
grateful for
Organisin
g
have ne twork rs , the Marsh tha ative
e years. helpe ing e ss, as a cre
support
o ve r th
l bus ine sses, d high vents our busine ction.
o m lo ca gover light t e right dire
ections fr preading nmen he lat stud io, in th
food coll rais in g events, s GDPR
to bu
tal ch
anges est , t
aries elopmen o
g fun d , and siness from ity M
ial media
v o
arrangin o c plann Felic unity De s Waterl
n s lunteer ing fo rates, and
o m si
Com er at Oa
the word re sid e nts to vo r Brex Man
ag
ing loc a l ave it.
encourag . T he y really h
As Leader of the council, I’m very grateful for te food
and dona e extra
mile
the work that Lambeth’s BIDs do in bringing gone th
ort us.
together the business community and working to supp
in partnership with the council to improve
our borough. Since their establishment,
WeAreWaterloo have played a key role in
their local community to improve safety, lobby Glenn Kesby, General Manager of 1901 Arts Club
on behalf of small businesses and work with Pop
ners of YoYo
the council to grow the fantastic market on helle Harvey, Co-ow
Trev and Mic
Rebekah Gibson,
Lower Marsh. Waterloo Foodbank manager
Connecting the local business community to
charities and community groups in Waterloo is Christmas would not
WeAreWaterloo’s Lambeth
a key focus of the BID, whether it is supporting be the same at Drive l As a local business owner, and a
impact on the loca thand
Waterloo Foodbank, providing opportunities Forward without the m mun ity is Councillor, I have witnessed firs
businesses and co terloo
for young people in the area or collecting and great support and In particular, the positive impact WeAreWa
extremely valuable. of ser vice s has had
distributing presents at Christmas time to relationship we have e the current BID’s programme
in times of crisis lik mu nity ; from
groups that are in need. with WeAreWaterloo. ped up to on our local business com
pandemic, they step incr eas e
s in as facilitating large-scale events to
support businesse s to
At this time of huge challenge for our could. footfall to implementing measure
many ways as they of COV ID-1 9, their
economy, ensuring that issues experienced mitigate the impact
their willingness
by local businesses are well represented and knowledge of the area and
mem bers
met by the council has never been more vital. to listen and lobby on behalf of its
ns
WeAreWaterloo BID’s work with the council has Lucy Elamad, Head of Corporate is appreciated. Critical conversatio
ers and both Lam beth
allowed us to provide financial support to local
Engagement, Drive Forward Foundation
between business own
mad e eas ier
businesses that need it and to ensure the safe and Southwark Councils are
futu re
reopening of the local economy. Our ambitions by the BID and with such exciting
r plan,
to support the economic recovery and work in projects included in their five-yea
I would urge all to vote ‘YES!’
Camilo Salazar, Manag
tandem with WeAreWaterloo BID to improve er at Morley Radio
the trading environment can only be delivered in February.
Ibrahim Dogus,
with a ‘YES!’ vote and I hope all businesses in Lambeth Borough
Councillor
the area will support them.
WeAreWaterloo is a very useful
organisation for linking up the business
community to local community groups.
Whether it is finding us a local builder or
recommending a local IT firm to help vulnerable
people improve computer skills, working
together is the best way forward.
Jack Hopkins, Leader of Lambeth Council
16 wearewaterloo.co.uk 17
Jenny Stiles, Vice Chair of Waterloo Action CentreTHE COUNTDOWN YOUR
BEGINS Notice of CONTRIBUTION
C a m
Launch
p
ballot
a ign TO THE BID
How do
I vote? 14 DECEMBER
NOVEMB
ER What’s in
it for me? In order to be renewed, the BID needs to receive a ‘YES!’ vote from a
W hat’s majority of businesses voting in the ballot, both by number of businesses
a BI D? who have voted as well as the total rateable value that they represent.
• The BID area spans part of the Boroughs of Lambeth • All businesses with a Rateable Value of £12,000
and Southwark. The ballot will be conducted by and over will be liable to pay the BID levy, which
the Electoral Services team at Lambeth Council for includes all businesses except the very smallest shops,
ballot
businesses in both Lambeth and Southwark. kiosks and offices.
• If renewed, the BID will be financed by a mandatory • There is an upper cap of £60,000, which is the
papers annual levy, which is then ring-fenced for the delivery
of the BID’s five year business plan.
maximum amount the largest businesses would have
to pay, regardless of their rateable value.
received • The BID levy for each property is calculated as a • Business occupiers are solely responsible for
by post percentage of its rateable value. We’ve lowered the paying the BID levy; however, in cases of empty
Get
levy percentage for this term from 1.5% to 1.3% in properties, landlords or property owners then become
order to account for the previous rise in business rates. responsible for paying the BID levy.
18 JANUARY This new levy of 1.3% is based on the business’ rateable
Voting value as per the 2017 ratings list (voa.gov.uk) or the
first rateable value for properties built or valued after this
time. In order to account for inflation, the percentage
•
•
Charities receive a 50% reduction.
A full list of the BID rules can be found on our
19 JAN - 18 FEBRUARY will increase annually as per the following intervals: website here bit.ly/renewalhub.
At
levy payable L ocal A ua time when
table overstretthorities were
ba l lo t 2021/ 22 - 1.3%
stepped icn hed, the BI D
made a di and really
that reas fference. For
c lo s es 2022/ 23 - 1.33%
2023/ 24 - 1.36%
on
is clear four choice
upcoming or the
ballot.
18 F E5PM
B R UA RY, 2024/ 25 - 1.39%
Results Tanya Davoli, Part-owner
and Director of La Barca
2025/ 26 - 1.42%
announced
19 FEBRUARY
18 wearewaterloo.co.uk 19MANAGEMENT AND 3 O
GOVERNANCE
e
O k
£ ojected itu
r 2%
in pr onal
additri nal funding
nd
pe
exte
12%
ex
38%
Overheads
Projected
7%
• The BID operates as a company limited by guarantee • Budgets are set and approved annually by the
with a voluntary Board of Directors. Board and progress against spend and delivery of
Enhance the
the BID’s activity is reviewed on a quarterly basis. Cont
• The BID is located in both Lambeth and Southwark ingen
cy
Environment
Councils and therefore enters into legal arrangements • WeAreWaterloo undertakes a voluntary independent
5%
with both councils known as Baseline and Operating financial review from external accountants every
Agreements. These agreements can be found on year in order to provide levy payers with high levels Collection fees
the BID website at bit.ly/renewalhub. of transparency.
26%
• The Directors meet on a quarterly basis in order to
review BID activities. In addition to the Board, the BID
Lambeth a
Councils tond S outhwark
also has a number of specific Steering Groups that
meet quarterly in order to regularly contribute to
BID outputs.
of grants t allocate +£3m
The BID holds an Annual General Meeting for businesses o Waterloo Celebrate
impact of following the
•
& Promote
Company Members. BID Company Membership is open
10%
to representatives of eligible businesses within the
BID footprint.
COVI D-19
nn ect & t
Renewal
• The BID produces a set of Annual Accounts which are o
C resen
reviewed by external accountants and made publicly
Rep
available within the Annual Billing Leaflets that are sent
out in the post and can be downloaded
via our website. projections
BUDGET
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 TOTAL
BID levy income 775,952 792,474 808,996 825,517 842,039 4,044,978
Net BID levy income 775,952 792,474 808,996 825,517 842,039 4,044,978
Grants & other income 40,000 40,000 40,000 40,000 40,000 200,000
WeAreWaterloo is financially transparent, publishing
Lower Marsh Market
annual reports on our website and running AGMs Management fees 20,000 20,000 20,000 20,000 20,000 100,000
for our members. We also regularly carry out Total income 835,952 852,474 868,996 885,517 902,039 4,344,978
member surveys to make sure that we stay on
top of the changing face of business needs. These projected figures have been ratified by the BID’s accountants and demonstrate the budgetary amounts the BID
will put towards developing projects. A contingency figure is included for the sake of prudency and accounts for properties
But that’s not all! We are uniquely placed to supplement our levy
temporarily being taken out of ratings, unrecoverable levy and spend contingencies; while a reserve fund is designed to grow
income with additional funding from a variety of other sources.
over the five-year term in order to contribute towards large-scale project delivery. Furthermore, and due to the currently
For example, in our current term, we have raised +£250k in
unknown repercussions of COVID-19, please bear in mind that these figures and allocations may be subject to change. In
additional funding by way of grants and match funding. For a full
any case, the BID is committed to maintaining open communication channels with members in order to address and pivot
breakdown of our budget projections, head to bit.ly/renewalhub.
priorities to suit requirements.
20 wearewaterloo.co.uk 21FAQs The work WeAreW
is essent ial,
aterloo
every borough
carries out ould have a BID. They
or region sh e us money, keep us
endeavour to save and fight for us.
safe, advertis gs
hree Sta
Owner of The T
Richard Bell,
How long will the BID last? Who collects the BID levy? We are ready and raring to continue
The BID term will be five years in duration from 1 April 2021 The Councils will be responsible for collecting the BID supporting you and your business with
to 31 March 2026. Before the end of this period, the BID
Board may choose to seek renewal of the BID for a further
levy on behalf of the BID, and the levy will be payable in
one instalment per year. Bills will be raised in March whatever awaits... but the future of the
term through a renewal ballot. and payment will become due on 1 April each year.
The BID levy is a mandatory charge, and is collected
BID relies on you. A ‘YES!’ vote means:
much like business rates.
Shouldn’t the council be paying Continuation of free and reduced
for this through business rates? How will the ballot be run?
recycling allocations for businesses.
A BID generates revenue that is 100% ring-fenced for the
area in which it is collected, to be spent on projects for the The conduct of the ballot is looked after by Lambeth Council A clean, green, safe and well-maintained
benefit of businesses that pay the BID levy as determined to ensure a free and fair ballot. Each hereditament trading environment for businesses.
by the businesses themselves. All services provided by receives one vote and the ballot is carried out by post.
the BID will be additional to those provided by the Council Those eligible to vote in the ballot will be those who would
be eligible to pay the levy at the time at which the Notice of Events to increase footfall and continual
and to ensure this level of separation, we have a baseline promotion of the neighbourhood and its
agreement with both Lambeth and Southwark Councils that Ballot is published. Where hereditaments are unoccupied at
the time of the Notice of Ballot, the owner will be entitled to businesses to cement it as a destination
outlines the services they deliver in the area. This can be with its own unique identity.
viewed on our website here bit.ly/renewalhub. vote in the BID ballot. Businesses which begin to occupy the
existing hereditaments during the BID period will be liable
to pay the levy for the period of their occupation. Votes are
Increased opportunities to share knowledge
Who is eligible to pay the levy? Are there exemptions? counted in two ways; a simple addition of the number of
and expertise with neighbours, as well as
votes, and an addition of the rateable value attached to each
bridging relations between businesses,
If your hereditament is rateable for the purposes of business vote. The ballot must be won on both counts. See page 18
local authorities and community groups.
rates and falls within the BID area, with a rateable value of for the ballot timeline.
£12,000 or above, you are eligible to pay the levy. There
are some exemptions, such as schools, which can be found And most importantly, having your
in the BID Rules at wearewaterloo.co.uk. In the case of I’m convinced! How can I get views on the future of the area
unoccupied hereditaments the BID levy payer will be the involved in the running of the BID? respected and actioned.
owner of the whole hereditament.
Great news! We’d love to hear from you and we’re always
interested in introducing new members to opportunities
How much does this cost? within our Steering Groups or Board. Simply contact one
of the team (email addresses are located on page 3)
The BID levy is a daily charge. Occupiers and owner- to set up a meeting and let us know how we can best
occupiers will pay the levy at the rate of 1.3% of support your business. You can also visit our website
Rateable Value. The BID levy will be charged at 1.3% wearewaterloo.co.uk where you can find out more
of the Rateable Value of each hereditament listed in the and sign up for our newsletter.
2017 Ratings List as at the date of notice of ballot
generating approximately £775,000 for the year.
!
Who owns the BID?
1,ooo hours main
You do! The BID is a not-for-profit company,
that is owned and led by BID member businesses in
our green spac taining Waterloo. At the BID, we also fully understand that
per year es we exist as part of a wider Waterloo community which
involves engaging with residents, resident groups and
non-levy paying stakeholders.
22GET IN
TOUCH
Build Studios
203 Westminster Bridge Road
London SE1 7FR
T: 020 7620 1201
E: info@wearewaterloo.co.uk
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