What resources would be necessary in the FY 2017 budget to support the efforts of small business owners in Old Town who want to establish a Business Improvement District?

FY 2017 Budget Question: What resources would be necessary in the FY 2017 budget to support the efforts of small business owners in Old Town who want to establish a Business Improvement District?

Page updated on Jun 16, 2017 at 11:56 AM

Two recent independent community led efforts have demonstrated interest in establishing a business improvement district (BID) type structure to support economic vitality in the Old Town and Waterfront areas of the City.

The Waterfront Commission established a Governance Subcommittee to evaluate various models to oversee and manage the public spaces and programming along the Waterfront. Following extensive study and deliberation, the Subcommittee recommended a Community or Business Improvement District. A presentation outlining the Subcommittee’s work and recommendation is included as Attachment 1.

Local retail business owners along King Street, including many representatives of the Old Town Boutique District, have also developed a recommendation for establishing a BID or “Old Town Partnership” for the Old Town area. A concept overview of this recommendation is included as Attachment 2.

In order to support and coordinate these grass roots efforts, the next step need would involve the development of a business plan, including the evaluation of boundaries and possible tax rates for a potential BID. Funding in the amount of $50,000 would allow professional support of these community driven efforts.  Based on the current proposals, the Alexandria Economic Development Partnership (AEDP) would seem to be the best entity to maintain any funding that Council might set aside. AEDP would then coordinate with the community interests in developing the business plan and recommendations related to BID establishment. Any BID would need City Council approval and would need to be put in place no later than December of 2016 in order to be effective for calendar (tax) year 2017.


Attachments:

Attachment 1 - Waterfront Governance Subcommittee Proposal

Attachment 2 - Old Town Partnership Concept Overview

 

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