Sta rti ng a Bus ines s Im prove me n t Di s t r i c t i n P hi la d e lp hi a
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Banner, Old City District
P l a n n in g P h a s e
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Checklist: Does a BID make sense for your district? The district consists largely of commercial property with a minimal amount of single-family residential. There is little vacant land. Less than 20% of the existing commercial properties are vacant. There are few tax delinquent properties. A BID could generate enough money annually to provide a meaningful
Leg is l a t ive P h a se
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level of service to the district (normally at least $100,000/year).
BID Planning Worksheet
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Property owners have a track record of working together and investing in their neighborhood. The large nonprofit institutions with buildings located within the district are involved and willing to consider making a multiyear financial commitment.
“What if my neighborhood lacks these characteristics?” Even if a BID doesn’t currently make sense, your district may be ready for a BID in the future. Until then, you should build partnerships, encourage investment, and lay the foundation for a healthier commercial district. Here are some good first steps:
Local elected officials are supportive.
»» Create a formal or informal business association where owners meet regularly to address shared concerns.
The local neighborhood associations and/or Community Development
»» If your district has high levels of vacancy or undeveloped land, stakeholders should focus on strategic investments and business development that will stimulate further private investment. Once there is increased activity, there will be greater demand for the services that BIDs provide.
Corporations are aware of, and supportive of, the BID effort. There are current or pending capital improvements or public amenities that need to be maintained.
»» Maintain relationships with your elected officials and local government agencies, so that if you choose to pursue creating a BID later, these officials will already be familiar with your goals and activities.