Stockport BID Proposal FAQs Feb 2016

• The process of bringing in a BID
involves some complex work to
administer and follow the letter of
the law laid down in an act of
parliament in 2003.
• The ballot has to be organised with
the same rigour as a parliamentary
election. For this reason we need to
pay for work to be done, training to
be received and a technical advisor
to make sure we are running
everything in a legal manner.
• There will also be costs relating to
the printing of the BID Proposal and
Business Plan; the information you
will need to make sure you can cast
your vote with confidence.
• Of course, the BID team will look for
savings and partnerships wherever
possible to keep costs low.
• If the result of the ballot is a 'no' vote
the government write off the loan
and nothing needs to be repaid.
Why has money been borrowed
from the government?