Madison’s Central Business Improvement District (BID): Renewed for 5 MORE Years!
Madison’s Central Business Improvement District (BID) Renewed for 5 MORE Years!
By Madison’s Central BID
“Madison’s Central Business Improvement District (BID) will continue for another five years (2019-2024), based on results of a property owner vote certified on 7/26/19 by the Madison City Clerk’s Office.
A Business Improvement District (BID) is a special assessment district authorized by state statute. A BID enables commercial property owners to establish a special assessment, and to use the funds to enhance and promote business within the district. Nationwide, there are more than 1,000 BIDs. In Wisconsin, there are more than 85 BIDs in communities of all sizes.
Private sector leaders created Madison’s Central BID in 1999. The district encompasses the greater State Street and Capitol Square area, and remains Madison’s first and only BID. It operates on a rolling five-year sunset, which was renewed in 2004, 2009, 2015 and again today. The BID is governed by a 20-member Board which represents district property and business owners and stakeholders. The BID has two full-time staff persons plus programming and seasonal employees.
Madison’s Central BID supports the economic health and vitality of the central downtown. BID programs and services—over and above what the city provides—support 370 retail, restaurant, service and entertainment businesses in the greater State Street and Capitol Square areas. The BID markets downtown as one contiguous area – a very special shopping, dining and entertainment destination…”