A vote to create a business improvement district in Spalding would see the council paying more than £6,500 a year into the pot.
Businesses in the town centre area are currently voting on whether or not the initiative will be going ahead.
The scheme, if approved, will see each member of the BID pay an annual levy depending on the rateable value of the property they have.
South Holland District Council would contribute £6,593 a year, based on two per cent of current rateable values.
The council has a total of 18 areas which have a rateable value and attract a levy.
The ballot period closes on Friday, June 28, with the result due to be announced on Monday, July 1.
“It should be noted that the authority has invested considerable officer time and capacity in supporting the Spalding Business Board with progressing their ambitions to develop a BID for the town,” says a report outlining the options for the district council using delegated powers.
Members of the council are being urged to back a ‘yes’ bid for the move.
“From the perspective of the council it is anticipated that the formation of a Business Improvement District for Spalding has the potential to deliver a wide range of local benefits,” the report says.
If the BID is approved, it is expected to start on September 1 and last for five years.
A five-year plan sees £170,000 each year from the levy along with £34,000 additional money.
Overheads to come out of each year’s budget would include £17,500 each year, including professional fees, insurance and office costs.
The annual £186,500 spent each year includes £50,000 for marketing and promotion events. A further £36,500 will go towards staff costs.
An open meeting held in February last year saw more than 40 businesses represented to find out more. The need for a ‘coherent’ approach and single voice for businesses in the town.
The board will have up to 15 directors, including those from levy-paying businesses or voluntary contributors.
The directors will not be paid and the BID will employ a dedicated manager to ensure projects for the group are delivered effectively and efficiently.
