The Beeston BID (Business Improvement District) Company Ltd will finish in December. The announcement comes after all businesses in the BID area took part in a ballot to vote on whether they wanted the BID to continue.
The BID is a not for profit organisation that works with the business community of Beeston to make it a better place to live, work and shop.
Leader of Broxtowe Borough Council, Councillor Richard Jackson said: “The BID have worked very hard over the past few years to promote Beeston and the Council will continue to support them and local businesses during this transition.”
“With a new tram system and redevelopment in The Square, Beeston is thriving and we will continue to work with the local community to ensure that the town can continue to grow and be a great place for people to live, work, shop and invest.”
To be successful a ‘yes’ vote had to be reached from 50% of the total vote made, and from the rateable value represented in the vote. However, neither of these criteria were met.
The company officially launched on January 1st 2011 and will operate until 31st December 2015.