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Business Current Event
Why downtown Detroit needs a Business Improvement District.
By William C. Roney III
Executive Vice President
Raymond James & Associates
Everybody wants a better downtown -- a place alive with workers, visitors, residents and customers, and filled with a wide range of shops and businesses. We want to feel safe and we want it to be attractive and clean.
Business owners in cities across America have found a solution for dramatically improving their downtowns through the formation and management of Business Improvement Districts (BIDs). BIDs are formed by property owners who organize as a unified group and agree to fund and manage services such as power-washing sidewalks, frequent trash removal, graffiti removal and landscape improvements.
In more than 1,000 cities, including New York, Philadelphia and Denver, BIDs are credited with keeping downtowns clean and safe, resulting in increased pedestrian activity and business success. Raymond James & Associates has offices and clients in a variety of markets that boast BIDs as part of the everyday business culture. Memphis, Atlanta, Tampa and Philadelphia are strong examples of successful BIDs and the positive impact they have on the business environment. In Memphis, for instance, the BID helped establish an environment in which the downtown residential market is flourishing. Detroit would do well to enjoy that kind of success.
Similarly, many credit the BID in Tampa with sustaining a downtown environment, which balances the needs of the tourism industry with the demands of business and commerce.
Several years ago, Paul Levy of the Philadelphia BID spoke at Detroit Downtown Inc.’s Annual Membership Luncheon. We heard how the Philly City Center BID, working along with the city, has changed the face of the city from dirty to dynamic -- from dismal to a destination. We left that meeting thinking, "Why can’t we do that." Many of us believe we can. The BID is one powerful tool that other cities have used to great advantage. The time to try it here is now.
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