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Thumbs up for Kings Heath town centre investment
Investment in Kings Heath town centre is set to continue after traders voted to pay extra business rates to fund improvements.
The scheme has already been running for five years and claims to have protected the High Street and side roads against the worst of the economic downturn. The number of empty shops in Kings Heath is half the national average at 6.5% compared to 13% nationwide.
Under the Business Improvement District, properties that pay business rates in the area pay an extra amount into a kitty to help improvements in the town centre. In the previous five years around £600,000 was raised this way and that brought in extra 'matched' funding of £1.1 million - a total of £1.7 million invested in keeping the area clean, green and prosperous according to the Centre Partnership.
All businesses have to vote and if a majority agree everyone has to pay - even those opposed to the scheme.
Voting on whether or not to continue for another five years closed at the weekend and the result was announced today. Local businesses agreed to continue their support.
"This is great news for Kings Heath. Thanks to all for continuing to invest in Kings Heath's future," said town centre manager Kate Smart, whose post is funded by the BID.
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Tags: BID, Business Improvement District, local news, town centre, town centre manager
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