BUSINESSES in York city centre have just hours left to vote on whether to adopt a Business Improvement District which could see £800,000 raised a year to improve business conditions in the area.

A month long ballot closes on Thursday, in which around 1,070 business have been asked to vote on the scheme, which if approved will see them pay a one per cent levy on their business rates for the next five years.

As of yesterday BID managers reported a a 38 per cent turnout, compared to an average BID ballot turnover out in other cities of 40 per cent.

Once the postal ballot closes at 5pm on Thursday, the count will begin, with the result due to be announced at 12.30pm on Friday.

Steve Hughes, York BID project manager, said: "We have spent months talking to businesses from all sectors across the city and hope that on Friday we will be able to announce a positive result.

"This is the culmination of months of hard work by City Team York and businesses which believe the city centre needs to improve to remain competitive.

"We want to create the city centre York needs and deserves, and we hope our plans have the support of a majority of businesses who have voted. We will find out on Friday."

If the vote is successful, a not for-profit company will set up to begin operating on April 1, 2016. A majority of voters, more than 50 per cent both by number and rateable value, are needed to establish the BID, and all businesses in the BID area will be required to pay the mandatory levy whether or not they cast a vote.

To date the BID has been promoted as new means of attracting big-name brand retailers and new independents to York as well as attracting more professional and financial employers to locate in the city centre, marketing the city to visitors and residents, and in turn increase footfall, dwell time and spend.

Adam Sinclair, the York BID chairman, and managing director of the Mulberry Hall in Stonegate, said: "I want us to ensure York city centre continues to be a winner. We need to up our game in terms of attracting investment, entrepreneurship and financial and professional services."

There are more than 200 BIDs now operating across the UK, with Leeds and Sheffield both recently voting in favour of setting up BIDS in their city centres.

York's BID announcement will be made at 12.30pm on Friday in Thor’s Tipi Bar, part of the St Nicholas Fair, outside Marks & Spencer.