Last chance for residents to have say on funding model for Fremantle Business Improvement District

Fremantle from above.
Fremantle from above.

RESIDENTS have one more day to have their say to continue the funding model for Fremantle Business Improvement District (BID), which promotes Fremantle as a destination to shop.

Currently BID is funded through rates levied on commercial properties in the Fremantle CBD.

Local businesses are asked if they support continuing the existing model or see the marketing budget combined with the differential rate funds to expand the overall program.

The funding is set to expire at the end of June.

So far the survey of 148 business found they would prefer the differential rate rather than Fremantle council to assist with marketing.

Fremantle BID chair Karl Bullers said the decision to revoke BID funding was premature considering the degree of construction works over the next two years.

“Our retailers are already feeling the pinch due to a high number of shop vacancies and hence a tourism-based mass marketing campaign is not going to assist these businesses at a grassroots,” he said.

“(This is) reinforced by research which demonstrated that 39.2 per cent of businesses stated the events held by the City of Fremantle had no impact on their business with a further 23 per cent said it has a negative impact on their turnover.

“The differential rate is raised each year specific to the CBD businesses and to now remove this is to promote Fremantle as a whole is ignoring the plight of local businesses and it is deeply concerning.”

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