City's commercial district moves for BID status

Liverpool's commercial district may be set for a major funding boost after plans were revealed to create a Business Improvement District (BID) in the area.

More than 800 landlords and tenants will be balloted on the proposal, which aims to generate in excess of £600,000 per year for enhanced marketing, maintenance and physical improvements through a levy equivalent to one per cent of business rates.

The application for BID status has been launched by Liverpool Commercial District Partnership, which says the planned cuts in public spending have created the need for the city's private sector to protect the area's wider interests and leverage potential further investment.

A group of BID Ambassadors, including Chamber of Commerce chief executive Jack Stopforth and Downtown Liverpool chairman Frank McKenna, has been recruited to promote the application among the business community ahead of an official proposal to Liverpool City Council in Autumn 2010 and a final ballot in Spring 2011.

Paul Rice, chief executive of Liverpool CDP, said: "At a time when austerity has become the buzzword for public funding, we must ensure that the investment pipeline remains open in Liverpool if the city and the commercial district are to continue to thrive.

"Consequently, it falls upon the private sector to lead us out of recession through greater cohesion and a clear direction for building upon the tremendous work that's already been done.

"We intend to engage widely with businesses throughout the area, spelling out how they can benefit from BID status and outlining a clear, transparent plan for change and essential improvements across the entire area."

The proposed new BID area would become Liverpool's second following the successful City Central application five years ago and would be bounded by Leeds Street in the north and James Street in the south and run from east-west from The Strand to Pall Mall, mirroring the boundaries currently controlled by Liverpool CDP.

Eligible voters have been invited to a breakfast event at Radisson Blu Hotel on Tuesday 29 June, where a panel of business leaders led by John Flamson, director of strategic partnerships and development at The University of Liverpool, will debate the challenges and opportunities around BID status.