Businesses in Derby Cathedral Quarter have voted to renew the area’s status as a Business Improvement District (BID).
A record turnout for the ballot resulting in 85% of businesses and 77% of the aggregate rateable value voting in favour of the BID seemed a clear enough mandate to continue the BID over the next five years.
The new BID will officially launch on March 1st 2018 with a budget for the five year programme of £1.5m – made up of the levy payments and supplemented by voluntary, private and public sector contributions.
Martin Langsdale, Chair of the Cathedral Quarter, who leads a board of local business people and partner representatives who oversee the BID activities said: “We are delighted that businesses have recognised that this five-year business plan is crucial to continue the success of the BID which culminated in us winning National BID of the Year and the best city location in the Great British High Street Awards last year.
“Businesses in the Cathedral Quarter have engaged enthusiastically in the consultation and planning for the next five years and we are grateful for the time that individuals have devoted – particularly to our project management company Partnerships for Better Business Ltd (pfbb uk) who have led this process.
“Having achieved a great deal over the past ten years to reverse the fortunes of the Cathedral Quarter following the opening of Westfield and a period of recession, business confidence for the future in the Cathedral Quarter BID is strong and this plan provides us with a clear direction and a new exciting era for this individual, diverse and inspiring part of the city centre.”
He continued : “It has taken ten years of hard work by everyone in the Cathedral Quarter to create a successful brand and to ensure the successful delivery of a business-led programme of activity.
“By working together, we have addressed the challenges faced by businesses head on and turned around the fortunes of this area. We have developed the Cathedral Quarter into a quality lifestyle destination that out-performs regional and national trends.
“We now have the mandate to take the Cathedral Quarter to another level and to create a destination which others aspire to be a part of.”