• What – 1. Self assessment tax district formed to fund specific programs/projects within a defined boundary, 2. Managed by district property owners for the benefit of district property owners.
• Benefits – 3. Gives property owners control over programs/projects that happen in their district, 4. Gives property owners control over programs/projects that happen in their district, 5. Provides a means of managing and funding the programs and projects that property own.
• How – Assessment method can be as simple as a straight percentage of taxable property value (Albq DT = 5.8 mills) or can use a complex formula to fairly account for special circumstances (DT Denver),7. Assessment dollars collected by County and distributed to BID organization (Typically 501(c)(3)),  8. No less than Five pr operty representing 51% or more of the total property owners in the proposed district petition City council to form BID.
• Where – The full NM BID statute is available online. Google New Mexico laws and go to Article 63 – Business Improvement Districts, NMSA 1978, Sections 3-63-1 to 3-63-16   download full pdf
  

• There were valid and pressing reasons for forming both a BID (Business Improvement District) and a TIF (Tax Increment Financing) District at the same time. The three primary reasons for forming the BID are: 
  
  1) to create a market driven, financially feasible plan for the Uptown area which would be created by the business community who have a stake in the out come of Uptown thereby insuring its success. Items which need to be properly planned include:
  A) the future mixed use densification of Uptown in order to bring more residents and businesses to the Uptown area, 
  B) the required transportation (including provision for pedestrian trips) infrastructure, timing and financing needs to implement the plan 
  C) an identity program which may include such things as landscape, hardscape and lighting
  D) the future use of the block of land currently owned by the Transit Dept.
  
  2) to create a promotion plan for Uptown that includes active representation at all levels of government and to better coordinate and supplement the promotion activities of the individual companies in Uptown.
  
  3) to create a corporate entity which will be responsible for implementing both the planning effort and the promotion effort e.g. a small staff that will sub-contract out to Uptown firms anything that can be contracted which will be virtually everything except for the finance and government relations.
  
  The BID will be supported by a mill levy which may be as little as one mill given that the assessed value of Uptown today is approximately $160,000. The majority of the funds to be spent are proposed to raised be by the TIF.
  
  It is critically important to launch this effort in 2006. The reason for the timing is that the Hunt project will not make the tax rolls until 2007, the Winrock property will be valued as land and at its lowest value in 2006 and Coronado will have to empty department stores which should significantly reduce their assessed value as well. Therefore, if we are able to get a TIF approved in 2006 or early 2007 based on 2006 values, the TIF will generate a tremendous amount of revenue even thought it is limited to only 75% of the increment of increase. 
  
  The TIF proceeds should be utilized to implement the requirements generated by the plan which could/should include some assistance to property owners willing and desiring to build parking structures either for their own use and for those willing to cooperate with their neighbors and build shared parking even greater assistance and to fund construction of a structure on the Transit Dept property and other future structures as the densification plans proceeds. 
  
  The TIF can also be utilized for pedestrian improvements including local match money for future pedestrian crossings over or under Louisiana, or if you really want to get wild a monorail system looping Uptown and connecting to the future light rail station. With the 1% for Art program, we will need to invest in public art in Uptown which can further our creation of a destination image. By creating a landscape plan we can create a more unified sense of place and implement a lot of it as the new projects move forward and as Uptown densifies.
  
  As the valuation of Uptown increases the flow of funds to the BID will increase and those funds can be dedicated to an on going promotional program.
  
  It is noted by the group that this can only happen if the three biggest players (Hunt, Prudential and GGP) in Uptown can sit down at the table together, put aside most if not all of a one sided perspective and a make decision that will benefit all of Uptown, including their own interests. The pie is plenty big enough if we move quickly.   download full pdf
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•   download full powerpoint presentation (12 mb)
  

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•   download full pdf

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•   download full pdf

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• download full pdf
  

  Download all BID documents (15 mb ZIP file)