City centre businesses could fund new Peterborough festivals and enhanced Christmas lighting
It is hoped more than 500 firms will join the new Business Improvement District (BID) zone which covers Queensgate Shopping Centre, Bridge Street, Peterborough United Football Club and the new development at Fletton Quays.
BIDs are funded through a levy on business rates, usually one to one-and-a-half per cent.
Advertisement
Hide AdAdvertisement
Hide AdThere are 300 established BIDs across the UK already including in Cambridge, Northampton and Nottingham.
Cabinet member Cllr Steve Allen said: “It will give enormous support to the businesses in the city centre.”
The cabinet unanimously agreed to develop the BID.