Shirley bid for £ 550k fails as vote is lost
AN attempt to secure £ 550,000 of additional funding for the Stratford Road corridor has been lost after the proposed Shirley Business Improvement District ( BID) was rejected.
Businesses took part in a vote for the Shirley BID, which revealed more votes in favour of the idea but when taking into account the aggregated rateable value of the votes this meant the vote was lost.
For the BID to be implemented a majority of businesses were needed to vote in favour by both their number and aggregate of rateable value.
Shirley BID was designed to create a vibrant town centre to increase visitor numbers and help businesses flourish throughout its five- year term and beyond. Its vision was to ensure visitors are motivated to stay for longer, spend more and return.
If the ballot had been successful it would have generated £ 550,000 of funds over five years to invest in a programme of visitor events and street markets, employ a warden, and work with partners to deliver improved visitor wifi. The BID would have campaigned for improvements to car park facilities and the introduction of parking meters where required.
Victoria Hicks of Wadsworths Solicitors said: “Unfortunately our worst fears have been confirmed and we have lost the vote to create a BID on rateable value.
“Whilst we’re understandably saddened that the majority of businesses of Shirley who were wise enough to recognise the benefits of joining together for a brighter future have been overruled, we’re so proud of the whole BID team.”