business improvement district (BID)

A Business Improvement District (BID) is a specific area where local businesses collaborate to enhance the environment and promote economic vitality. Property owners in the district agree to pay an additional tax or fee, which funds services like street cleaning, marketing, security, and landscaping. The goal is to improve the area's appeal, attract more visitors, and ultimately boost business revenue. BIDs are often managed by a nonprofit organization that listens to local stakeholders and implements initiatives that benefit everyone in the district.