What is a business improvement district?

A business improvement district (BID) is a public/private partnership established to provide enhanced services within a geographically defined commercial area. Property owners choose to make a collective contribution to the maintenance, development and promotion of their district. The investment, through an additional municipal tax, goes to fund services beyond those already provided by the city. Property owners determine the priorities of the district and how the additional funds are spent and managed.

The BID model provides a way for owners to fund and prioritize services above and beyond what the municipality provides. Establishing a BID also allows owners to develop a common vision for the district and collectively create and advocate for programs that add value to their properties.

BIDs have become very popular throughout the country. Property owners have realized that in order to succeed and prosper, they need to invest in and manage the area in which they are located.

Today, more than 1,000 BIDs exist nationwide including Connecticut cities like New Haven, Stamford, Bridgeport, Danbury, Manchester, New Britain, Hartford’s Park Street. New York City has more than 52 individual BIDs. The Hartford BID proposal is designed to build off of and expand existing ‘clean and safe’ programs once provided by Hartford Proud & Beautiful and the Hartford Guides.

         

Services of the Hartford BID

How a BID benefits your property?

BIDs empower property owners. When property owners gather together in a BID, a collective vision is possible. This collective vision ultimately results in: