Businesses in Altrincham have voted yes to establish a Business Improvement District (BID) in the town centre.
Businesses voted with a 68% majority and 74% by rateable value. The turnout of 44% was above the national average for a BID ballot, a total of 238 votes.
The result, which follows a four-week postal ballot, will create a fund of over £1.4 million to be spent on a range of projects intended to improve the town centre, increase footfall and enhance business performance over the next five years.
Councillor Sean Anstee, Chair of Altrincham Forward and Leader of Trafford Council said: “This is a brilliant result that will help to continue the momentum in Altrincham town centre, building on the work and investment that has gone into the town over the past few years.”
Martin Duff, Chair of the BID Steering Group and owner of Randalls Jewellers, said: “I am delighted that so many businesses have supported this initiative. Businesses will now have the ability and resources to work together to implement the projects and events detailed within the Altrincham BID Business Plan.
“This will give us a platform to really make a difference to how Altrincham town centre is perceived, make it more attractive to visitors so they keep coming back, and to improve the business environment.”
The BID Steering Group will now appoint a BID Manager and a new board – comprised of an “even mix of representatives from various business sectors” – to oversee the BID going forward.
The new BID company will be formally launched on 1st April 2016, at which point activities will commence. Projects include marketing campaigns, safety and security initiatives, events and negotiating joint procurement deals designed to save businesses money.
For more information and to view the 5-year BID business plan visit www.altrinchambid.co.uk or call the BID Team on 0161 912 1599.
What is a BID?
A BID is a defined area where businesses come together to collectively invest to improve their trading environment. A BID can be voted in by a majority of businesses through a secret postal ballot, for a maximum term of five years. During this time, occupiers of all business properties within a defined area will be required to pay the mandatory levy, irrespective of whether they cast a vote in the ballot.
The idea of a BID is new for Altrincham, but has its basis in national legislation, and BIDs are already working successfully in over 200 towns and cities across the UK. Once a BID is formed it is run and managed as an independent company, entirely separate from the local council. Typical BID projects include running year-round events programmes, high profile marketing, whole-town advertising, enhanced street cleaning, seasonal displays, joint procurement and improved security measures.
At the end of the five year period, businesses are asked to vote again on whether to continue the BID for a further five years. To date over 90% of towns and cities reaching the end of their first five-year period have voted in favour of a second BID term.
