What is a Business Improvement District (BID)?
A Business Improvement District (BID) is a private-sector initiative to manage the improvement of Albuquerque’s Downtown environment, financed by a self-imposed and self-governed assessment on commercial property within the boundaries on the map (see other side). The funds for BID services are managed by the property owners through the Downtown Action Team (DAT). DAT acts as the mechanism for management, administration and operational support. The Downtown Action Team is a private, non-profit membership organization dedicated to the revitalization of Downtown Albuquerque as the best mid-sized Downtown in the USA. DAT’s advocacy for Downtown puts good will ambassadors on the streets, provides maintenance, promotional programs and sponsors events, as well as fosters public and private cooperation for quality growth and investment in Downtown development. A BID provides for Downtown improvements and services, including: • Clean & Safe Teams (the men & women in bright red – you can’t miss
A Business Improvement District (BID) is a public/private partnership in which business elects to boost the vitality of their businesses by making a collective contribution to maintenance, development and promotion of their commercial district. It’s in a defined geographical area and initially runs for up to five years to deliver the services that BID members feel will be valuable additions to those provided by the council. In the UK, BIDS are very much in their infancy but in the USA some have been up and running for more than 20 years. In that time they have revitalised commercial areas in more than 1500 towns and cities including 51 areas of New York City. There are currently 20 BIDs up and running in the UK, including Bedford, Plymouth and Birmingham. Signs are that business believes that Great Yarmouth should follow as soon as possible.
