The Council is pleased that Eastleigh Town Centre Business Improvement District (BID) has voted to continue for a further five years. The BID provides businesses and organisations in Eastleigh Town Centre with more control over their future and generate around £1million in the BID area over the next five years.
A ballot of town centre businesses revealed that 93% of all those who voted are in favour of the BID progressing. For the BID to be successful a second trigger ‘majority by rateable value’ was also required and this was achieved with 95% of the total rateable value of those who voted.
The new BID will commence from 1st April 2019 for a five year term and will be financed through a BID levy on the rateable value of 316 town centre businesses, the proceeds of which will be invested into the town centre and on the additional projects that businesses have identified and as set out in the Eastleigh BID Business Plan.
The money will be used on a range of initiatives including more marketing and promotion activities such as staging events, the continuation of the town centre rangers and ongoing car parking promotion and incentives.
Cabinet Lead for Economy Cllr Derek Pretty said “This result is great news for Eastleigh. We have an ongoing commitment to regenerating the town centre and the BID will continue to provide a great opportunity to promote and improve the town centre over the next few years.”
Teresa Swann BID Project Manager added “I am obviously delighted with the result and thank all the businesses I have been working with. This fantastic result is a great endorsement of five years of hard work from the BID team. We will be delivering the new initiatives and the team will continue to work hard and bring extra value to our town centre.”
For further details about the BID visit www.eastleighbid.co.uk