More than 600 businesses are being asked to vote on proposals to set up a Business Improvement District – or BID – in Cheltenham.
Ballot papers are being sent out this week and businesses will have until Thursday April 28th to cast their votes.
The ballot follows a year of planning and consultation led by the Cheltenham Business Partnership, see which believes the Cheltenham BID would help businesses flourish and see increased numbers of visitors to the town.
The BID would cover the town centre, ed including the High Street, Promenade, Montpellier and The Brewery and would generate more than £2 million, which would be invested in the Cheltenham economy.
Local companies have been directly involved in drawing up a Business Plan, which centres on marketing and promotion, parking and accessibility, town centre events, business support and improvements to pavements and signposting.
BIDs are business-led and business-funded bodies formed specifically to make agreed improvements to an area. The Cheltenham BID would be funded by a 1.25 per cent levy on the rateable value of eligible businesses. It would generate more than £2 million over its proposed five-year term.
Terri Brewster, chair of the Cheltenham Business Partnership, said: “We would urge all eligible businesses to use their vote. This is a unique opportunity to create a body that we’re convinced will make a real difference to them and to the town.
“We see the levy as a business investment in Cheltenham and expect the BID to generate significant extra income from sponsorships, grants and voluntary contributions which will benefit all types of businesses.”
Money raised by the BID is spent independently of local councils and other public bodies.
Kevan Blackadder, manager of the Partnership, said: “The BID would not replace services currently offered by the councils and others. The BID will be about new projects supported by businesses.
“I have been delighted by the response of retailers, the night-time economy and businesses of all kinds to the proposals. I would urge them to vote Yes in the ballot.”
More information is available at www.cheltenhambid.co.uk or via info@cheltenhambid.co.uk.