Lismore business owners will be asked this week to decide whether or not to continue paying an increased special business rate aimed at revitalising the city centre.
A Lismore City Council spokesperson said business property owners in Lismore have paid the Special Business Rate Variation Levy (SBRVL) for the last 14 years.
The funding has been used for promotion of the city centre under the successful ‘Lismore – Come to the heart’ brand, but it ends on June 30 this year.
Over 1,000 business property owners and the owners/managers of more than 3,000 businesses in the Lismore urban area will receive an information bulletin this week as part of a consultation to determine business support for continuing with the additional SBRVL.
(In 2010, property owners and business operators overwhelmingly supported an application to the NSW government to approve an additional SBRVL of $100,000 per annum for a period of three years.)
At its December meeting, the Council called for consultation to ask businesses if they favoured extra rates of $106,500 per annum for five years to be spent on business promotion activities.
The results will be reported to Council in March to determine if a Special Rate Variation application is to be submitted to the Independent Pricing and Regulatory Tribunal (IPART).
‘If the consultation is favourable and IPART is satisfied with the application, business owners will continue paying the rate they have paid for the last three years,’ the spokesperson said.
The preliminary results of an assessment of the ‘Lismore – Come to the heart’ program by Southern Cross University’s School of Business has shown that from 89 business surveys processed, the majority of businesses were in favour of continuing the additional SBRVL, with 65 (73 per cent) agreeing.
Business owners or managers from the CBD or Lismore Urban Area who did not receive the bulletin can obtain a copy by contacting Sandra Vincent at Lismore City Council on 6625 0436 or via [email protected]