BID Raises £125k for Commercial District Public Realm
Liverpool’s latest Business Improvement District (BID) has raised £600k to spend on further developing the city’s Commercial District public realm over the next five years.
The BID was recently cemented on 31st May 2011 when the area’s businesses voted for BID status with a majority of 60%. BID’s are funded by a small levy that is collected as a supplement to business rates.
Most, if not all of the finance is likely to be matched by public sector funding and will primarily, but not exclusively, be used to continue to boost the public realm improvements into the surrounding streets of the district.
David Guest, chairman of Liverpool CDP, said: “Liverpool’s business community has acknowledged that the creation of a commercial district BID, with its focus on a truly world class business district, can deliver increased commercial activity for existing businesses and help to attract new business to the entire city region.
“The journey that we started five years ago will now be taken forward to deliver sustainable improvements in how both business and people enjoy living, working and playing in Liverpool''s commercial district.”
Paul Rice, Chief Executive of Liverpool’s Commercial District Partnership said:
“The ‘yes’ vote means that we can implement the many improvements laid down in the business plan such as creating a safer, cleaner environment, improving transport access and attracting investment”
BID status is expected to generate more than £3m in additional funding over the next five years for enhanced maintenance, marketing and physical improvements.
For more information on Liverpool’s Commercial District visit: www.liverpoolcdp.com
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