Maylands BID provides a unique opportunity for businesses to generate additional resources to target on improving Maylands. The BID will give the business community collective control in the investments made. We anticipate that the BID membership levy will enable us to attract a matching amount from the public sector, ensuring that the business contribution acts as a lever to harness further support.
Maylands BID will also work with Dacorum Borough Council and Hertfordshire County Council, and their contractors, to ensure that contractual obligations are fulfilled. Baseline and service level agreements (available on this website in December) will be agreed so that the income from members adds, rather than replaces, value. The new service level agreements will establish clear standards in relation to local authority services provided. Whenever standards fail to be maintained, Maylands Partnership will address this with the service provider on behalf of Maylands businesses. The projects and services delivered by the BID will not diminish Council services.
Maylands Partnership has a robust vision for Maylands. This will be supplemented with a five-year strategic plan that will become the centrepiece of the BID prospectus. Businesses will be invited to vote following the development of the plan.
Voting 'YES' will give you direct influence over the re-investment of funds. It will also increase influence of the business community's voice across a wide range of public sector bodies. A 'YES' vote will be a signal that local employers are committed to the area and want to share success in the creation of a vibrant and prosperous working environment.
Voting for a BID
To obtain a positive outcome, the BID must secure a successful ballot. There are two hurdles:
1. 50% of businesses must support the BID
2. The value of the 'YES' votes must exceed 50% of the total rateable value within Maylands
Businesses will be asked to vote on a formal BID prospectus and all business rate paying businesses within Maylands are eligible to vote. A successful vote for the BID will commit all businesses within the BID area to the initiative. The BID membership levy will be collected by Dacorum Borough Council in one annual installment; this will keep administration costs to a minimum. Following collection, the funds will be transferred to Maylands Partnership.