Key vote to continue work of Peterborough's Business Improvement District to be held in summer
Plans are being drawn up to hold a key vote to secure the future of the work of Peterborough’s Business Improvement District (BID).
Ballot papers are expected to go out to more than 350 businesses within the BID area in time for the vote, which is scheduled to take place in the summer.
Pep Cipriano, chief operating officer of Peterborough Positive, which oversees the BID, said: “I am optimistic about getting a second term and excited about the future.”
He said that the intention was to build on the work that the BID was already doing in the city around improving safety, marketing the city and putting on more events to increase footfall.
He said: “In term two we are particularly looking at more collaboration with Peterborough City Council and the police.
"We’ll be aiming to make what we do bigger and better than before.”
The Peterborough BID was given the green light in October 2021 when it secured backing by 84 per cent of the voting businesses.
The voting businesses are in an area from the train station to just beyond the cathedral and between Fletton Quays and Broadway.
Mr Cipriano said the five year.term of the BID was not up for renewal until May next year, it had been decided to bring the vote forward and to allow plenty of preparation time.
When the vote takes place businesses will have to decide by both a simple majority and with the total rateable value of businesses voting in favour greater than those voting against, if they want to be part of the BID initiative to enhance the city centre.
Bid members pay a levy of 1.5 per cent of their rateable value to the BID which helps generate about £1.8 million over five years for works and events to improve the centre.