A KEY decision is set to be taken by the borough council’s executive tonight which should shape the immediate future of Burnley’s historic market.

Senior councillors will be asked to approve a package of measures which would see rents lowered and increased promotion for the venue, above Market Square, involving subsidies of £257,000 over the next two years.

And approval is also being sought from the executive for a further £60,000 to fully assess the building’s structure, ahead of a final determination on the best way forward for the 620-year-old institution.

Earlier this month councillors, including Coun Shah Hussain, executive member for economic development, warned it had reached the stage where the authority had to say ‘use it or lose it’ to customers.

Closing the market has not been ruled out if predictions on increasing numbers of vacancies come true.

Several options have been drawn up by external consultants, including a new £6million market hall and rejuvenating the current hall by investing £3million.

One suggestion has been relocating the market to a ground-floor home but shopping centre owners Charter Walk are understood to be cool on the idea.

Each of the choices would still involve meeting a £1.2million repairs bill for the existing premises, councillors have been told.

Colin Hill, the council’s facilities management head, said: “Even if ultimately the market was closed on its present site, we do see a future demand for some form of market.”

“Therefore in the project planning process for a future high street pedestrianisation upgrade for St James Street, this will include infrastructure provision to enable a more traditional street market to be held as a complementary or alternative option in the future.”

The footfall for the market has fallen from a weekly average of more than 50,000 in 2004 to around 25,000 for the first six months of this year.

Earlier this year a decision was taken to close the nearby open market.