Through the Operating Agreement with Westminster City Council, the processes will be put in place to monitor the collection of the BID levy over the duration of the five-year tenure.
Within one month of the Ballot result, New West End Company and Westminster City Council will set up a Monitoring Group. There will be at least two meetings of the Group each financial year throughout the BID term.
The West End is the beating heart of our global city and a major contributor to the UK economy. However it cannot rest on its laurels. With the pandemic expected to have a lasting impact on the future use of city centres, the West End needs to stay ahead as a diversified and vibrant commercial centre and as a magnet for Londoners and visitors alike. It will also need to respond to the wider debate of how the recovery can support a more sustainable future. I believe that the New West End Company has an important role to play in ensuring the West End can deliver on its potential to meet these aims.