Manchester city centre management company Cityco has been working with the city council's corporate and regeneration officers on plans to create a city centre business improvement district (BID).
The BID would be located in the retail core area of Manchester city centre and would be a specific area where businesses pay an additional charge on their premises which are then funnelled into new services and initiatives.
There are already several existing BIDs in the north west of England, including Bolton, Blackpool, Oldham, Preston and two in Liverpool.
The Manchester BID would focus primarily on retail and any new services and initiatives would be aimed at increasing the retail success in Manchester city centre.
The proposals have now been tabled, and any business within the potential BID now need to vote on the formation of the new body which, if approved, would run for five years from next April.
Cityco will present a full report detailing the planned BID at a meeting of Manchester City Council's cabinet next Wednesday.
The development will be good news for city centre estate agents, as a revitalised and vibrant retail scene will only make Manchester city centre properties more attractive to potential homeowners.