What is a Business Improvement District (BID)?
A Business Improvement District (BID) is a public-private partenership created to improve the business climate of a specific commercial district. Property owners and businesses agree to assess themselves an additional tax amount to fund a central organizing and financing mechanism. The goal of the resulting BID is to support property owners working together in order to improve and enhance the quality of life for those working and living in the district.
While BIDS are grassroot organizations, they require legislation by the municipal government to be established. The operations of the BID is overseen by a Board of Directors who hires staff, sets objectives and promotes economic development.
The BID’s services do not replace city services, but supplements them. By law, the city cannot reduce existing services in BID areas and property owners and businesses within the BID themselves decide which services to provide. BIDs typically provide services such as street and sidewalk maintenance, public safety officers, park and open space maintenance, marketing, capital improvements, and various development projects.