TEIGNBRIDGE Council Executive has backed the Newton Abbot Business Improvement District proposal by agreeing to provide an additional voluntary contribution of up to £13,000 annually during the next five years.

The authority would put in a further £6,519.75 a year during the same period – one-and-a-half per cent of the rateable value of its premises and car parks within the Bid area.

Everything still hinges on businesses in the town voting in favour of the Newton Abbot Bid next month. Its success depends on getting more than 50 per cent of the vote.

It would cost a small shop or office with a rateable value of £5,000 an annual levy at 1.5 per cent to Bid of £75, an average shop or business £270, an average shop in primary trading area £900, a large shop in primary trading area £1,500, and a large chain in a primary trading position £3,000.

For three years up until April Teignbridge Council had contributed £20,000 a year towards a town centre development manager. A successful Bid would result in a £180,000 annual income providing the Newton Abbot Bid Company with a five-year budget of more than £900,000 for projects.

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