“These days, it seems that Business Improvement Districts (BIDs) are increasingly under attack. While I can only speak anecdotally, I continue to come across communities facing challenges to BID formation, challengesÂ that would have seemed unlikely just a few years ago.
It stands to reason that in the current economic climate, BID formation inevitably slows down as property and business owners express justifiable concern about their bottom line. Yet a wholesale rejection of BIDs is a short-sighted effort to staunch losses that only results in a deeper hole by reducing the resources available to stabilize and enhance downtown communities. Like any asset, downtown requires on-going improvements and investments to compete against newer, shinier shopping environments. Moreover, consumers continue to keep close track of discretionary spending, which means more competition for fewer dollars. It is precisely this cut-throat competitive environment that makes BIDs an extremely valuable tool for downtown in their efforts toÂ attract shoppers.
Here are five reasons why BIDs remain a good option for downtown revitalization.”
You can read the full (and awesome) article here: commercialdistrictadvisor.blogspot.com/2011/06/five-reasons-why-business-improvement.html