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Roosevelt Row Businesses May Get a Boost

Photo credit: AZRE

Source: AZRE

A group of business and property owners are collaborating to implement a $375K business improvement district in the Roosevelt Row/Evans Churchill area of downtown Phoenix by next year.

According to the business improvement plan newsletter, a Business Improvement District is a plan that allows property owners to gather resources and provide services beyond those provided by government to improve their district through a self-imposed and self-governed property assessment. More than 1,500 BIDs with a renewal rate of 95 percent have been formed in North America.

Nancy Hormann, owner of Hormann & Associates, has led the plan’s development since June 2014 when the City of Phoenix approved a contract with Downtown Phoenix Inc. to create the BID. Hormann has helped create 17 districts, including those in California, Texas and Arizona.

According to Hormann, a final plan should be done within a week and questionnaires will be sent out to property owners asking if they support the district. In order to get the city council’s approval, support is needed from property owners representing 51 percent of the assessments to be paid. If enough support is granted the plan will go to council in September, and money would be available in February or March 2016 to start the district.

In the earlier stages of the plan’s development Hormann said focus groups and surveys were conducted to gather ideas, and a working group comprised of community representatives and property owners worked to develop them.

Hormann said she is confident most property owners will support the BID, however “you can’t please everybody.”

“We’ve had great feedback from a lot of the people,” Hormann said. “There are a lot of great people who are working towards this. It’s a great community effort.”

Read more at AZRE

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