|[06 JAN 99] CITY
CENTRE COMPANY COVENTRY PRESS RELEASE
City Centre Company Hits Financial Target
ground-breaking initiative to improve the heart of Coventry has hit its first financial
target and is continuing to attract city centre businesses.
The City Centre Company, a partnership firm which manages
and promotes the city, launched a new funding scheme in October which offered a range of
superior services to companies who signed up to a three year membership.
The company hopes to raise between £150,000 and £250,000 but the total has already
reached £170,000 in cash and contributions in kind and is still growing.
Around 30 businesses, large and small, have pledged their support to the scheme
a total that could double.
Martin Stockdale, the City Centre Companys scheme co-ordinator, said more
companies were expected to sign up early in the New Year.
DR MARTIN STOCKDALE - CITY CENTRE
COMPANY SCHEME CO-ORDINATOR
"We are very pleased with the way the scheme has gone and the present total is in
line with what we were hoping for. The prospects are very positive.
"We have not started to push hard on things like group membership and we are still
visiting companies to tell them more about the scheme."
The cornerstone of the scheme is the Retail Crime Initiative, which involves a new
radio link, exclusion orders which allow businesses to ban repeat offenders from their
property, and a Civil Recovery Service in which the company recovers the cost of crimes
committed against members.
There will be free advertising for members, an entertainment and events programme,
improvements to the environment adjacent to members businesses, and a business support
The City Centre Company is committed to reaching seven out of 10 targets in its first
year, and levels of payment for a second year depends on its success. Businesses will be
asked to sign up for three years.
"We are very pleased that it is not just the large businesses that have come on
board. Smaller traders such as Francis and Gaye, Chameleon and Brains have signed up.
"We were confident the scheme would prove popular but because it is unique it is a
big step for companies to take and we know that we have to perform to achieve the targets.
"The result should be a city centre that is more appealing to visitors and
therefore more successful for business. Coventry will be the winner."
MORE INFORMATION: Advent
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