BUSINESSES and organisations in Coleraine have voted overwhelmingly in favour of setting up Northern Ireland’s eighth Business Improvement District (BID).
Ballot results released by the independent scrutineer, Electoral Reform Services, revealed that 81 per cent of all those who voted are in favour of the BID progressing. For the BID to be successful, a second trigger ‘majority by rateable value’ was also required and this was achieved with 90 per cent of those who voted.
It is anticipated that the BID will commence from next month for a five-year term and will be financed through a BID levy. Over the five years the levy will generate over £1.2m to be spent in the BID area.
Ian Donaghey, chair of Coleraine BID said: “Our traders have made their voices heard. This is a great result for all involved and allows the town to improve further over the next five years through the proposals detailed in our plan."
