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Title

BUSINESS IMPROVEMENT DISTRICT: SELF-FINANCING SYSTEM TO IMPROVE COMMERCIAL DISTRICTS IN CITIES

Author(s)

 RAFIYAN MOJTABA | ARBABZADEGAN HASHEMI SEYED ALIREZA | Issue Writer Certificate 

Pages

  87-98

Abstract

 From many years ago, Shopping areas in down town have been most important factor of dynamism in these centers. They now face multiple problems such as economic decline, low purchasing power and lack of infrastructure investment. Down town revitalization as the beating heart of cities in the world plays a vital role to improve the quality of life for resident.Suburbanization growth in recent decades caused transmission business from down town to suburbs and weaken and destroy the social life in down town. Urban planners and city managers in recent decades have offered a variety of mechanisms to restore life to down town. BID is one way to reconstruction down town with an economic approach. This method is trying to provide services to residential and commercial areas by economic growth and tax calculation. This method will revive economic reform in down town. BUSINESS IMPROVEMENT DISTRICTS (BIDs) are self-assessment system to improve the economic situation in down towns. First, in 60th and 70th decades this system has been test in American and Canadian cities.BID organization with public funding and private management is trying to provide COMPLEMENTARY SERVICES for its area. BIDs by public - private partnership will enhance quality of life in down towns. In response to sprawl andwhereas dynamic business centers are necessary for quality of social life in the cities, down town revitalization is head of urban management policies.The Business Improvement District is a public and private partnership in which property and business owners elect to make a collective contribution to the maintenance, development and promotion of their commercial district. The BID is set in an urban context but can also be adapted to village in any urban agglomeration. Multiple property owners agree to the extra fee (assessment) to undertake management and development of the BID area. The BID improves the commercial climate and economic vitality of commercial district by addressing capital improvement, service delivery, advocacy and promotional activities.The Business Improvement District is a publicly sanctioned, privately managed organization that supplements public services to improve geographically defined retail and commercial areas. The BID organizations are based on a self-help doctrine, which provides for financing its multi-year operations through self-taxing mechanisms authorized by the municipality’s legislative body. Its purpose is to improve the business climate and economic vitality of commercial areas. The BID represents a partnership between property owners, shopkeepers and Municipal Corporation and urban agglomeration.The BIDs are distinguished by two factors: public financing and private management. A unique feature of the BID is the agreement between the municipalities and local participating business districts to share the costs of physical improvements within the BID area. Additionally, the merchants and property owners become responsible for financing the operations of the BID organization, maintaining improvements, and managing ongoing promotions and marketing activities. The result is a permanent partnership between the city and its merchants, other business people and property.This article indicates to review the descriptive literature and comparative analysis of samples of successful case study, introduce BID as an effective mechanism to restore economic and social life to down town.

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    APA: Copy

    RAFIYAN, MOJTABA, & ARBABZADEGAN HASHEMI, SEYED ALIREZA. (2010). BUSINESS IMPROVEMENT DISTRICT: SELF-FINANCING SYSTEM TO IMPROVE COMMERCIAL DISTRICTS IN CITIES. ARMANSHAHR, 3(4), 87-98. SID. https://sid.ir/paper/202444/en

    Vancouver: Copy

    RAFIYAN MOJTABA, ARBABZADEGAN HASHEMI SEYED ALIREZA. BUSINESS IMPROVEMENT DISTRICT: SELF-FINANCING SYSTEM TO IMPROVE COMMERCIAL DISTRICTS IN CITIES. ARMANSHAHR[Internet]. 2010;3(4):87-98. Available from: https://sid.ir/paper/202444/en

    IEEE: Copy

    MOJTABA RAFIYAN, and SEYED ALIREZA ARBABZADEGAN HASHEMI, “BUSINESS IMPROVEMENT DISTRICT: SELF-FINANCING SYSTEM TO IMPROVE COMMERCIAL DISTRICTS IN CITIES,” ARMANSHAHR, vol. 3, no. 4, pp. 87–98, 2010, [Online]. Available: https://sid.ir/paper/202444/en

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