FREO BID NEEDS PRIVATE BACKERS
The Fremantle Business Improvement District-BID will be extended by another three years, but subject to yearly performance criteria.
The City of Fremantle charges CBD businesses an additional differential ‘city centre commercial rate’ and BID will receive $ 356,394.00 for the next financial year to promote and assist inner city traders.
I believe the real issue for BID is to get substantial additional funding because nearly two-third of the money they receive from Fremantle City goes to paying staff, office rent and outgoings, so not much is left to support our traders.
It will have to be seen if private operators are willing to back BID with additional funding, because if not the future of BID is going to be shaky.