Business Improvement District (BID)
A Business Improvement District (BID) is a way to organize co-investment from businesses and property owners within a neighborhood to support economic development activities that nurture vibrant places. Through inclusive community engagement, BIDs can support locally defined priorities and create neighborhood identity. The formation and adoption of a BID is a locally driven process and reauthorized every five years by the property owners within the district.
“A Guide for Establishing BIDs” was created by the Department of Housing and Community Development’s Massachusetts Downtown Initiative (MDI) to help cities and towns navigate the process of establishing a BID in their communities.
MassDevelopment partnered with MDI to supplement its guide with three case studies:
For more information:
Claire O'Neill, Senior Vice President Real Estate Planning