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Business district votes for BID status

Extra £3m drawn from city firms will fund 'enhancements' to area

Written by . Published on June 1st 2011.


Business district votes for BID status

BUSINESSES in Liverpool’s commercial district have voted in favour of the area gaining Business Improvement District status.

The result was announced by Councillor Malcolm Kennedy, Liverpool city council’s cabinet member for regeneration, at The Plaza on Old Hall Street.

BID status works by taking a levy from businesses, over and above rates, to fund enhanced maintenance, marketing and physical improvements to a given area. It is expected to generate more than £3m in additional funding over the next five years, says Liverpool City Council.

It said the number of ‘yes’ votes was greater than anticipated, with 60pc of voters agreeing to the proposal, creating only the third ever commercial-led BID in the UK.

Cllr Kennedy said: “One of my priorities is to give businesses a greater say over the management of the city centre, so I am delighted that local firms have voted in favour of creating a BID.

“Creating a stronger commercial district is crucial to Liverpool’s ambitions to attract jobs and investment, and this result shows a blossoming revival of confidence among Liverpool’s private sector.

“It will mean companies have a greater influence over how they would like the business district to look and feel, with additional resources available to make those ambitions a reality.”

The application for BID status was launched by Liverpool Commercial District Partnership.

The commercial district BID is now Liverpool’s second, following the successful City Central application five years ago. The new BID is bounded by Leeds Street in the north and James Street in the south, and runs from west-east from The Strand to Pall Mall.

 

 

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