The Georgetown Business Improvement District (BID) is working to extend its term for another five years, as required by the Business Improvement Districts Act of 1996. The current term expires Sept. 30. The Deputy Mayor for Planning and Economic Development will hold a hearing on the Georgetown BID, at 6 p.m., July 10, in Room 120, the Wilson Building, 1350 Pennsylvania Ave., NW.
This public hearing is to inform citizens about the renewal application. All interested parties have an opportunity to present their views on the application in a public forum and ask questions.
After the hearing for the Georgetown BID, the participating voting members will vote on whether or not to approve the $17.5 million dollar estimated budget that will impact Georgetown for the next five years. The cost of BID services is financed by a self-imposed tax on the businesses within the community. The Georgetown BID income comes directly from the businesses of Georgetown, its members. It is calculated by the “non-exempt” commercial portions of property at a rate of $.1545 for every $100 of assessed value (see page 21 of the Five Year Renewal Plan).
The projected budget proposal has a two percent annual increase in BID tax that will be applied in 2016 (see page 22 of the Five Year Renewal Plan). The expenses of the operating budget will go towards different projects throughout the Georgetown BID which will include: street services, marketing improvements, transportation and destination management.
Complete copies of the application will be available, starting Thursday, July 3. The recertification package will also be available at – www.GeorgetownDC.com/renewal.
Those who wish to present testimony or present written comments on the application must do so by noon, Monday, July 7, 2014. Send them and direct any questions to Lincoln Lashley at lincoln.lashley@dc.gov. Telephone: 202-741-0814.
We want your input on the Georgetown BID to help us report on the nature and activities of BID as they relate to your businesses and our community. We hope you’ll take a few minutes to answer the questions below.
Please send your responses to editorial@georgetowner.com
1. Are you familiar with the Georgetown Business Improvement District (BID)?
2. Has the Georgetown BID helped you as a local business? If so, in what ways?
3. Are you familiar with the 15-year plan for 2028? Which part of the action agenda are you most interested in?
4. How can the Georgetown BID help your business?
