Vote to decide future of city's business champions

Every five years companies vote on whether they want the project to continue

Firms in Wolverhampton are set to cast a vote to decide the future of a project that supports city centre businesses.

The Business Improvement District (BID) has been working to improve the central trading area for the last 10 years and is funded by a levy based on the rateable value of businesses.

Every five years, firms that pay the levy have to vote whether or not to continue with the BID.

The latest ballet is set to be discussed during the council's cabinet meeting on Wednesday.

Councillors are set to discuss the ballot which decides the future of the city's BID project

A report for cabinet members reads: “The council understands the significant importance of having a BID, and recognises that a BID helps to achieve the objectives of re-invigorating the city and creating an attractive, accessible and lively city of choice for our residents and future generations who wish to make Wolverhampton their home.

“As well as bringing a positive contribution to the city’s visitor economy and attractiveness to inward investment.”

It is estimated the BID would raise about £2.7m in investment for the city over the next five years.

The vote to decide the future of the BID will take place between 27 September and 24 October.

Every firm which pays a levy, which can vary from £230 per year up to an annual charge of £4,000 depending on the rateable value, will get a vote.

For the BID to continue there must be an overall majority from the 576 qualifying premises and the majority must also represent a higher rateable value.

This news was gathered by the Local Democracy Reporting Service which covers councils and other public service organisations.