Hampstead BID: Bosses says £58,000 in reserves will be spent before re-ballot
PUBLISHED: 16:39 28 October 2019 | UPDATED: 15:26 29 October 2019
Hampstead Business Improvement District could have a nearly £58,000 of unspent cash going into its re-ballot year, it was revealed at its AGM last week.
More than 20 BID members and stakeholders attended the meeting, although this newspaper was told it would not be allowed at the event at the Hollybush pub, in Holly Mount.
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Spending projections for this year show the amount for street cleaning being cutto £18,000 as it will take place on a fortnightly, rather than the current weekly basis.
Meanwhile nearly £5,000 more will be spent on the Christmas and summer festivals. This year's light switch-on is set to take place in mid-November, ahead of Hampstead Christmas Festival on December 1. Yet it looks to carry over £57,731 into its re-election year. The vote on whether to keep it will take place in the summer of 2021.
BID manager, Marcos Gold said: "The overspent will pay for consultations if we need them, and other projects like the village ambassador who has welcomed more than 1,000 people to Hampstead, reported 300 examples of litter and 90 pieces of graffiti since she started. The money has to be spent and will be spent because we're a not-for-profit organisation."