Leatherhead is on the cusp of a potential £1 million investment through the establishment of a Business Improvement District (BID). A report suggests this initiative could significantly revitalize the town centre, empowering local businesses and attracting new investment. Mole Valley District Council is set to discuss the proposal on September 9th.
Key Takeaways
- A proposed Business Improvement District (BID) for Leatherhead could generate up to £1 million.
- The BID aims to revitalize the town centre through a five-year investment and improvement program.
- Funding would come from a 2% levy on businesses with rateable values exceeding £8,000.
- A ballot for businesses to vote on the BID will take place throughout November, with results announced on December 2nd.
Revitalising Leatherhead’s Town Centre
The creation of a BID is seen as a significant opportunity to enhance Leatherhead. Paula Keay, cabinet member for sustainable economy, highlighted that the BID would empower local businesses to actively shape the future of the town centre. This, in turn, is expected to attract further investment and implement improvements that will benefit residents, visitors, and traders alike.
Funding and Implementation
If approved, the Leatherhead BID would be funded through a 2% levy applied to businesses whose rateable values are above £8,000. This levy would support a comprehensive five-year plan focused on investment and improvement projects within the town centre. The next crucial step in the process is a ballot, scheduled to run throughout November. The outcome of this vote will be revealed on December 2nd, determining the future of the proposed BID.
