Business Improvement District could bring town £1m

Mole Valley District Council is looking into creating a Business Improvement District in Leatherhead

Setting up a Business Improvement District (BID) could bring up to £1m to a Surrey town, according to a report.

Mole Valley District Council will discuss creating a BID for Leatherhead at a meeting on 9 September.

BIDs are aimed at revitalising town centres. If approved, it would be funded by a 2% levy on businesses with rateable values above £8,000.

The next stage would be to hold a ballot throughout November, with the result announced on 2 December.

Backers of the Leatherhead BID are proposing a five-year programme of investment and improvement.

Paula Keay, cabinet member for sustainable economy, said: "This is a significant opportunity for Leatherhead.

"We consider that the creation of a BID would empower local businesses to shape the future of the town centre, attract investment, and deliver improvements that benefit residents, visitors and traders alike."

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