A discretionary retail relief scheme set to be adopted by Melton Council is hoped will support and encourage businesses in the town to grow and create jobs.
Subject to final approval, the two-year business rates grant scheme will start on January 1, at a cost of £40,000 to the council with other cost contributions coming from Central Government, Leicestershire County Council and the Combined Fire Authority.
A council report about the initiative said: “The business rate relief would involve supporting small and medium enterprise (SME) businesses to move into larger premises or to expand/develop their existing property. Relief of up to 100 per cent is potentially available.
“It will encourage businesses to remain within the Melton borough area, encouraging them to invest in new properties or bring existing properties back into use as well as creating/protecting jobs which ultimately contributes to the borough’s economic development.”
The council’s policy, finance and administration committee will be invited to adopt the business rates grant scheme when it meets next month.
Businesses will be invited to apply online, with applications being reviewed by a panel of officers.
As the granting of relief is discretionary, the council may consider not to grant relief even if all the necessary criteria are met. In line with existing exemptions, certain types of businesses wouldn’t be entitled to relief.
Applicants would be told of the panel’s decision within 30 days of the council receiving completed applications and supporting documentation.