Leytonstone’s E11 BID Co: still more controversy
Over the years, this blog has regularly reported on the travails of the E11 BID Co. Ltd. (hereafter BID ONE), a private company that was specially set up in 2007 to run Leytonstone’s Business Improvement District (BID). In some ways, that this has been merited is quite surprising. The financial and operating model that BID ONE initially set out to follow was hardly complicated. As part of the legislation that set up the BID area, LBWF was charged with collecting an annual levy (calculated as a percentage of rateable value) from local traders, and then passing it over to BID ONE. All BID ONE had to do was spend it purposefully, for instance by making the streets cleaner, safer, and in g... »