After a bruising battle that the saw a number of downtown property owners ‘opt-out’ of paying the BID assessment (Massachusetts is the only state to include a 30 day opt-out period in its BID enabling legislation), it seems the organization is ready to get on its feet and celebrate the inaugural season.
The BID collects approximately $3 million in annual fees from commercial property owners and most of the funding is going towards supplementing existing city services, keeping the district clean and safe, and helping drive downtown traffic through event marketing. This summer the BID will host a summer series called Stepping Up Downtown!.
As BIDs continue to face scrutiny nationwide, the success of Boston’s first BID will likely help determine whether other areas of the City will follow suit. Only time will tell – but we wish them the best!