What is the “opt-out” clause?
Within 30 days following declaration of the district by the municipality, any property owner within the BID may elect not to participate by notifying the municipal clerk in writing. By “opting-out” a property owner is neither subject to the BID fee nor eligible to receive any of the benefits or services provided by the BID.
Within 30 days following declaration of the organization of the district by the municipality, any property owner within the district may elect not to participate by notifying the City Clerk in writing. By “opting-out,” a property owner is neither eligible to receive any of the benefits or services provided by the BID nor subject to the BID fee. Additionally, upon the transfer of any participating property, the new owner has the option to withdraw the property from BID participation within 30 days of closing.
