One of the markets hit by Ludlow Town Council’s proposed rent hikes has offered to pay the council a 12 per cent increase.
In a letter to the council, Beth Heath, operations director for Ludlow Food and Drink Festival which runs a market on the Sunday, said: “We’d be more than happy to ‘catch up’ on inflation with our Sunday rent, and even pay a small premium.
“Having talked to the Local to Ludlow market organisers about the basis on which they are making their rental offer for 2008, on a similar basis, we would like to suggest that the food festival also pays a 12 percent increase in 2008 to catch up on any missed inflation increases in past years.”
If the council accepts the offer, the Sunday rent for the festival market would increase from £458 last year to £514 for 2008.
The council services committee originally suggested the festival should pay £850 in rent for the Sunday market. When the festival was first set up, the town council gave a grant to help pay for the rent.
But once the festival was financially secure, it stopped applying for the grant. Ms Heath said the festival made a positive contribution to trade in the market square. During last year’s event, more than 12,500 people passed through the square on their way to the castle.
The full council will discuss the rent rises on Monday at 8.30pm in the Bishop Mascall Centre.