Businesses in Preston city centre are to be asked to vote on a third term for the Business Improvement District (BID).
The BID, currently in its second term, began in Preston in 2009.
It is now asking businesses to support its renewal and help shape the economic benefits a third-term will bring to those operating and trading in the city centre over the next five years.
The BID has a mandate to work with businesses who subscribe to the BID to enhance opportunities for trade
Businesses with a rateable value of £10,000 or more, pay a one per cent levy to a ring-fenced fund, managed by the BID, for improvements and projects.
Preston’s BID, managed by the North and Western Lancashire Chamber of Commerce, has over the past eight years worked in partnership with city centre businesses and local authorities to improve trading conditions in the city centre. Since 2009, the BID has organised and funded the majority of the city’s Christmas offer, including the Christmas lighting scheme, the switch on, TV advertising and events.
BID’s events, staged since 2009, have attracted in excess of 700,000 people to Preston. Its key projects cover all sectors of the city centre, retail, professions and the leisure economy.
John Boydell, Chairman of Preston BID said: ‘The city has changed considerably since BID started in 2009, and we’ve had to rightly adapt and modernise.
“We’ve enjoyed the support of hundreds of businesses who regularly back and engage with our campaigns. Going forward, should we receive a ‘yes’ vote, we will continue to adapt and offer a BID fit for a 21st century city centre.”
Ballot papers will be sent out shortly.