Council approves proposal to form dedicated business group for Romford town centre
PUBLISHED: 12:00 12 April 2018
Businesses in Romford could soon benefit from a scheme to revitalise the town centre’s economy, after councillors gave proposals the go ahead.
Plans made by the Romford Town Management Partnership (RTMP) to form a Business Improvement District (BID) were approved at Wednesday’s Havering Council cabinet meeting and business owners in the town centre will now be balloted in June.
Business leaders are hoping the idea will bring in £2.75m to spend on projects and developments aimed at boosting trade in the town centre over the next five years.
At the meeting, leader of the council Councillor Roger Ramsey said: “I think it is a very positive move in trying to enhance what we are doing to regenerate Romford town centre and the people that have spoken to me about this have been very enthusiastic.
“Fingers crossed it will be a success for Romford.”
If successful, businesses in the proposed area would then pay an additional levy, 1.3 per cent of their rateable value, in to a pot of money that would fund projects to help increase footfall and drive more trade into the town.
The proposed area for the BID includes more than 440 premises and covers Central Library, Como Street car park, properties opposite North Street and within the boundaries of the ring road.
Romford’s BID proposal has four pledges, to promote and inspire, to create a safe, diverse and vibrant evening and night-time experience, to ensure a warm welcome by creating a positive place and to champion the needs of the Romford business community.