The Bridge Mall Special Rate is a levy on top of normal rates, and is based on the square footage of each store. The money is collected by council, then returned to the Bridge Mall Business Association  for security, promotion, a manager and events.

City of Ballarat officers have recommended the rate now continue for five years, with businesses raising $148,000 per annum. Council will contribute $70,000 each year to the rate. 

It’s a far cry from where traders were only months ago, when council officers called for the rate to be discontinued during an August 1 ordinary council meeting. 

For 2018/2019, it will equate to a total of $218,000 for the group. The agreement has been in place for 30 years. 

Bridge Mall Business Association centre manager John Marios said the council’s pledge of funding support for the group was calculated based off the amount of work and events held in for the community benefit.

“Like councillors said at the last meeting, it’s unusual for a group of traders to say they’ll pay more rates off their own backs,” Mr Marios said. “We’re really grateful and thankful they’ve supported us.”

If Bridge Mall Special Rate is approved on Wednesday night, a new part-time centre manager will be appointed, following Mr Marios’ impending retirement. 

The association has spent $330,000 on security in the precinct, with 64 cameras installed in the mall.

Special rates like the one in Bridge Mall are used in more than 70 shopping precincts across Victoria, including Glenferrie Road.