ST AUSTELL could be set for a £375,000 windfall – if traders give their backing for the town to become a Business Improvement District (BID).

The Cornish Guardian can reveal that discussions for St Austell to become a BID are currently under way between town centre chiefs and Cornwall Council.

If approved, the initiative would bring in approximately £75,000 a year for five years – money that will be ring-fenced and spent solely on boosting trade in St Austell.

However, it would be raised by charging eligible businesses an extra 1 per cent on top of their current business rates.

A board of local businesses, representing a cross-section of traders in the town, would decide how to spend the cash.

Tom French, St Austell town councillor and chamber of commerce chairman, has given his backing to the idea.

"I think it's an excellent way of the business community deciding how they would like to contribute additional monies to something they really think is worthwhile," he said.

Mr French is currently working on the BID proposal with Tasha Davies, a Cornwall Council expert on BIDs.

In order for it to come to fruition, those whose businesses meet the minimum rateable value will be balloted. If 51 per cent of those within the proposed area of the BID vote in favour it will then be adopted and the extra 1 per cent on rates charged to those in the area.

Newquay adopted a BID in 2011.

Newquay has outlined spending its cash on better PR and marketing, more events and improving the look of the town centre.

Annette Miller from Mon Armoire clothes shop on Vicarage Hill said she was supporting the BID.

"The hard thing is asking people to cough up more money in tough times," said Mrs Miller.

"But I really think St Austell needs a boost and I think we need to be in control. No pain, no gain.

"The main aim of the BID is to improve footfall, which will hopefully increase customers to shops. I would hope that whatever people pay out they will get back in custom.

"I think it should be first and foremost about appearance – it would make St Austell a much smarter-looking town. We should generate the money to cover that and more."

She added that small businesses which have a rateable value below a certain threshold will not have to pay towards the BID.

St Austell Town Council clerk, David Pooley, said the consultation process for the BID is due to be launched in April.

He is currently looking into the role of a town centre manager – a role which could be funded by the BID. "We think it's quite exciting," he said. "We have had some preliminary meetings and talked to a few traders and there's certainly some interest. That led us to this stage."

A working group will put a proposal together to present to traders when they meet in April.

Cornwall Council has contributed a £15,000 grant to help cover costs such as consultation and producing support literature.

Mr French said four areas have been identified which could benefit from the BID, including cleanliness and street environment, business support - creating links with St Austell College, reduction of business costs by collectively procuring costs, and a PR campaign to proactively market the town and encourage visitors.

What do you think about a BID for St Austell?

E-mail our reporter Charlotte Lowe at: clowe@c-dm.co.uk or write to us at: High Water House, City Wharf, Malpas Road, Truro, TR1 1QH.