Finances
HOLBA will secure £9.7M of ringfenced investment, to deliver a robust five-year improvement plan for the district.
The Piccadilly & Jermyn Street Business Improvement District will be funded, primarily, by the businesses operating within it. It will also draw on other public and private income streams to finance specific schemes and projects.
Five-year budget 2025 – 2030
Property Owner
| 2024-25 | 2025-26 | 2026-27 | 2027-28 | 2028-29 | 2029-30 | Total | |
| Income | |||||||
| BID Levy | £1,334,130 | £1,548,290 | £1,594,739 | £1,642,581 | £1,691,858 | £1,742,614 | £9,554,212 |
| Other | £69,659 | £10,995 | £10,995 | £10,995 | £10,995 | £48,495 | £162,134 |
| Total | £1,403,789 | £1,559,285 | £1,605,734 | £1,653,576 | £1,702,853 | £1,791,109 | £9,716,346 |
| Expenditure | |||||||
| Corporate Communications | £84,392 | £81,074 | £83,506 | £86,011 | £88,591 | £91,249 | £514,823 |
| External Affairs | £50,943 | £50,085 | £51,587 | £53,135 | £54,729 | £56,371 | £316,849 |
| Placeshaping | £210,798 | £177,205 | £182,521 | £187,997 | £193,637 | £199,446 | £1,151,605 |
| Promoting | £371,172 | £335,970 | £346,049 | £356,430 | £367,123 | £378,137 | £2,154,881 |
| Managing | £444,415 | £446,832 | £460,237 | £474,044 | £488,266 | £502,914 | £2,816,708 |
| BID Renewal | £57,852 | £9,581 | £9,869 | £10,165 | £10,470 | £67,067 | £165,003 |
| Core Costs | £335,072 | £243,590 | £250,898 | £258,425 | £266,177 | £274,163 | £1,628,325 |
| Contingency | £66,707 | £77,415 | £79,737 | £82,129 | £84,593 | £87,131 | £477,711 |
| Total | £1,621,351 | £1,421,751 | £1,464,404 | £1,508,336 | £1,553,586 | £1,656,477 | £9,225,905 |
Budget assumptions
- The budget figures are indicative and based on the anticipated levy income using 2023 rateable values.
- There is an assumed 0.03% annual inflationary increase.
- The BID levy income reflects 100% of the amount that will be invoiced; a 5% allowance has been made for non-collection in each year.
- The levy income may fluctuate and is subject to the market at the time of the ratings assessment.
- The other income is the minimum level of projected additional funding.
- The projects and services expenditure reflect the current priorities. These may change, causing variances across the five-year term.
- Any material variations will be approved by our board.
- Core costs will cover the company’s operational costs with the intention of maintaining them beneath the industry benchmark of 20%.