Milton Keynes Council is supporting almost 500 businesses by delaying payment of Business Improvement District (BID) bills until August.
The bill, which would have seen the average business in Central Milton Keynes pay around £2,500 in June, has been pushed back to help firms who have been affected by the lockdown restrictions.
BIDs are national schemes where businesses come together to agree on proposals that improve a commercial area, such as extra cleaning or night-time security.
Proposals should be additional to services provided by the local council and are funded by an annual levy.
The MyMiltonKeynes BID put forward proposals on how Central Milton Keynes could become an even better place to visit and do business.
Most recently, the Council and BID have been working together on a regeneration plan for the city centre and stepping up efforts to tackle rough sleeping.
As businesses in Milton Keynes begin to think about opening their doors again, the Council will continue to support MyMiltonKeynes BID as it helps organisations navigate through these challenging times.
Milton Keynes Council has been working with businesses from the outset to provide the best support possible during the Coronavirus outbreak.
The Council is sharing £40m of government grants with businesses so they can continue to operate and recover faster to protect jobs, and some sectors have been given a 12-month business rates holiday.
Leader of MK Council, Councillor Pete Marland commented: "This is one of many ways we’ve been helping to support MK businesses and protect jobs through the pandemic."
"We’re speaking to businesses every day, setting out the help and guidance available so they’re ready to reopen as soon as it’s safe to do so."
Chief Executive of MyMiltonKeynes, Melanie Beck, said: "We are delighted that Milton Keynes Council has recognised the importance of the MyMiltonKeynes BID by enabling the deferred payment of the BID bills."
"This additional support for businesses across CMK will be hugely important as businesses wrestle with creating a safe environment and financial stability."
