1. Describe what a property based business improvement district (PBID) is and when would it be necessary?

A Property-Based Business Improvement District (PBID) is a financing mechanism that is used to provide revenue for various improvements and activities that are likely to promote economic revitalization of a business district. A PBID is normally assessed against the property.

It would be necessary when there is need to enhance maintenance of public spaces, marketing and promotion, tourism promotion, economic development or any other activity that is likely to benefit the relevant business district.

1. How is a PBID financed?

1. What are some of the activities a PBID can undertake?

A PBID can undertake several activities. Among them is that it can finance marketing and special events. The marketing aspect and events involved are those within the relevant business district. Other activities include financing of maintenance, public safety and capital improvements.

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