At last night's December Meeting, Ballarat City Council gave notice of its intention to extend the Bridge Mall Special Rate for a further five years, at request of the Bridge Mall Business Association.
The special rate, which is due to expire in June 2023, allows the Bridge Mall Business Association to promote and advertise The Bridge shopping precinct. It also contributes towards security via CCTV, security guards and the employment of a centre manager.
The special rate is an additional levy to existing business rates, with the current rate to expire at the end of June, 2023.
If approved, the special rate would apply to all 80 properties located between Grenville Street and Peel Street that face the Bridge Mall, Coliseum Walk and ground floor tenancies of Norwich Plaza. It would be extended until 30 June, 2028.
Following last night's decision, the Chief Executive Officer will give 28 days Public Notice of the intention to declare the special rate. This is expected to occur in the first quarter of 2023.
All persons liable to pay the special rate will also be advised in writing, allowing them to make a submission to Council.
The formal adoption of the special rate would then need to be endorsed at a future Council meeting before it is implemented.
The Bridge Mall Special Rate was first introduced by the former City of Ballaarat Council in 1988 and has existed ever since.
If declared, the special rate would generate $160,000 in its first year, gradually increasing by 3 percent per annum to $180,081 in its final year.
City of Ballarat Mayor, Cr Des Hudson said Council was more than willing to assist in any way possible to enable the Bridge Mall to succeed.
"The Special Rate has existed since 1988 and we are pleased to support the request from the Bridge Mall Business Association by commencing the statutory process for it to continue," he said.
"As a Council, we are committed to seeing the Bridge Mall succeed as a shopping precinct.
"We are happy to take the next step towards extending the Special Rate to allow the Mall to thrive."
The application of the Special Rate would align with goal five of Council Plan 2021-2025: a strong and innovative economy and city.
Specifically, within the Council Plan, it relates to goals 5.2 and 5.6:
5.2 - Support local businesses to explore, innovate and adapt emerging economic opportunities.
5.6 - Facilitate increased vibrancy in the CBD and other key business precincts.
