A new vote is set to take place next year on the future of Penrith’s Business Improvement District (BID).
At the last BID board meeting, directors unanimously agreed to go for a new vote next year — giving Penrith businesses another chance to have their say after the last ballot produced a negative result.
A ballot for town business levy payers was held on November 30 on the proposal for a third, five-year, term of the Penrith BID, taking it up to 2028.
Two threshold tests needed to be met for the ballot to be successful – more than 50 per cent of the turnout must be in favour of the BID; and the positive vote must represent more than 50 per cent of the Rateable Value of the votes cast.
The total number of votes cast, excluding rejected ballot papers, was 115, representing a rateable value of £2,642,650. The votes in favour were 89, representing a rateable value of £1,084,850.
A majority of the business ratepayers in the proposed BID area voted in favour of the proposal, but not by aggregate rateable value.
Darren Broad, chairman of Penrith Business Improvement District (BID), said: “After careful consideration and with the support shown, we believe the loss is too great to our town and we will continue to fight for a BID as it gives us the best opportunity for our voice to be heard — especially with a new authority next year.
Mr Broad said that since the announcement of the third term BID ballot, many businesses had expressed disappointment at the result and believe the loss of the BID could have a huge detrimental effect on Penrith, both as a town and a local economy.
“As businesses we take (in a literal sense) from the community and a BID provides us with a way of giving back to our community while at the same time promoting our businesses, our town and having representation at local level in decisions that affect us all.
“Nearly three quarters of a million pounds investment over the five years is a loss too great that cannot be recovered from elsewhere,” said Mr Broad.
