Plans to attract new shoppers to New Addington move step closer
PLANS to launch a Business Improvement District (BID) to attract new shoppers to New Addington moved a step closer to becoming a reality this week.
Businesses on the estate are set to become a major driver in getting the area buzzing with trade.
A BID is an agreement between the council and business community which lasts for a set period and aims to promote trading environments, making the area safer and more appealing for shoppers.
On Monday, the council's cabinet is expected to give its support to the scheme, which would affect businesses based in Central Parade, Salcot Crescent and Chertsey Crescent.
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As a company, the BID would raise an annual levy, which would be invested in New Addington's regeneration, economic growth and locally targeted projects to complement the council's priorities of environmental improvement and crime prevention.
It is estimated the levy would amount to around £105,000 over a period of five years, with businesses charged an extra two per cent on their business rates while the scheme lasted.
If voted into existence, it would be the town's second BID, with the first based in the Croydon town centre area.
Croydon Council will vote to either support or oppose the scheme on Monday. If they choose to support it, ballot papers will go out to eligible businesses on November 6 to gauge support on the estate.
Councillor Vidhi Mohan, cabinet member for communities and economic development, said: "It is an opportunity for the council to strengthen its support for economic growth in New Addington, and for businesses to have a direct impact on transforming their district and increasing footfall."
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