Richard Guiney, chief executive, Dublin Town: businesses are required by legislation to pay the promotional company a levy equivalent of 5 per cent of their council rates. It spends the money on promotional initiatives, Christmas lights, street cleaning and staff costs. Picture: Fergal Phillips
Dublin Town, which recorded arrears of nearly €4 million at the end of last year, has notified Dublin City Council that it will seek a renewal of its five-year contract. The promotional company, which is also known as a business improvement district , is underpinned by legislation that requires businesses to pay it a levy equivalent to 5 per cent of their rates to Dublin City Council each year.