Business Improvement District (BID) status in Liverpool”s commercial district will be “good for business”, according to one of the city’s leading bankers.
Rikki Griffiths, corporate director for Barclays Corporate in Merseyside, says a ”yes” vote in this month’s BID ballot is vital for the area to continue its renaissance and provide a much-needed placebo to public spending cuts.
Landlords and tenants with a rateable value exceeding £10,000 are being asked to accept an additional levy equivalent to 1% of that value, which will be used to deliver services beyond traditional council funding, from events and marketing initiatives to additional street cleaning and environmental improvements.
For BID status to be approved, Liverpool Commercial District Partnership, which has launched the application, must secure a majority of votes cast and also a majority of the aggregate rateable value of those voting in the ballot, which closes on May 27.
Griffiths, whose organisation has its offices at Chapel Street, says: “From its purely voluntary base, the commercial district partnership has an outstanding record of delivering significant and meaningful enhancements.
“For this renaissance to continue in the face of sweeping public sector austerity, the private sector must step up to the plate and back its own ambitions for the area. Those volunteer contributors can no longer carry the can, and rightly so.
“Investment on this scale could deliver a major boost to the commercial district and such an opportunity should not be overlooked. The benefits for all landlords and tenants have been clearly defined by the partnership and I have no doubt that BID status will be good for business.”
The proposed new BID area would become Liverpool’s second following the successful City Central BID application five years ago and would be bounded by Leeds Street in the north and James Street in the south and run from west-east from The Strand to Pall Mall, mirroring the boundaries currently controlled by Liverpool CDP.