Traders have said ‘no’ to five more years of Boston BID following a close run vote – but it may live on despite losing the support of their levy.
Out of 239 votes cast, 115 were in favour of the BID (Business Improvement District).
That figure represented 48 per cent, with 50 per cent needed for the vote to be won.
The BID, which was funded by a levy on businesses and paid for the Town Rangers, is due to come to an end at the end of November.
However, The Standard understands that that may not prove the end for the body and that directors are due to meet this evening to discuss the way forward, albeit without the revenue of a levy from businesses.
Assembly Rooms and Waterfront owner Matt Clark sits on the BID board as a representative of the Chamber of Commerce.
He said he was ‘hugely shocked and disappointed’ by today’s result.
Mr Clark added: “I for one would like to see something positive come from this - a phonenix from the ashes.”
He stressed: “The company stands on its own two feet - there is no reason for it to close down immediately.”
It is too early to say what the impact is likely to be on the town’s Christmas market and lights switch on event but several sources close to the BID say the result will definitely spell the end for the Town Rangers.
BID chairman Alan Ellis said he was ‘gutted’.
The ‘rateable value’ of the businesses who voted was £6,212,550. The value of the 115 in favour was £3,912,750 - 63 per cent of the total.
To win, the votes in favour needed to be 50 per cent in terms of value and the number cast.
The total number of votes available was 537, meaning the turnout was about 44.5 per cent.
Boston Borough Council had used its votes in favour of the BID.