Stockport Council has cast its votes on the Stockport Business Improvement District (BID) ballot, in the town centre and is encouraging eligible businesses to fill in their ballots, send them in and support the BID.
The Stockport BID aims to raise over £2m to fund projects in the town centre that will help businesses to thrive and make the centre more attractive and welcoming.
Councillor Kate Butler, Executive Member for Economy and Regeneration, cast her votes on behalf of the Council on Monday 10th October.
Cllr Butler said: “The BID is an excellent opportunity for the Council and businesses in the town centre to work even more closely together to make improvements and really help the area come alive.
“I’d encourage eligible businesses to get involved, cast their votes and support the proposal. In doing so it will help increase investment in the town centre and benefit businesses, residents and visitors alike.”
All businesses within the town centre BID area, with a business rateable value of £10,000+, are eligible to vote.
Businesses paying less than £10,000 can also be a part of the BID and make a voluntary donation of £100 per year.
Town centre businesses have until 27th October to complete and submit their voting papers.
What is a BID?
Business Improvement Districts are business led partnerships which are created through a ballot process to deliver additional services to local businesses. They can be a powerful tool for directly involving local businesses in local activities and allow the business community and local authorities to work together to improve the local trading environment.
A Business Improvement District is a defined area in which a levy is charged on all business rate payers in addition to the business rates bill. This levy is used to develop projects which will benefit businesses in the local area.
There is no limit on what projects or services can be provided through a Business Improvement District. The only requirement is that it should be something that is in addition to services provided by local authorities. Improvements may include, but are not limited to, extra safety/security, cleansing and environmental measures.
The result of the ballot will be released on 28th October 2016.