8legs: J. j. mancini

#1 out of 1

Old Town property owners weigh forming a Business Improvement District

Old Town leaders opened talks on forming a Business Improvement District to fund safety, cleaning and marketing across the district.
City officials joined the discussion, noting BIDs can help fund district needs and ensure fair share contributions.
A Downtown Albuquerque BID is already in progress, serving as a model and point of comparison for Old Town.
Proposed BID could cover roughly 70 property owners, depending on boundaries set during planning.
The BID would focus on district-wide improvements and staffing for oversight rather than relying solely on volunteers.
Property owners would decide whether to sign a petition to move the BID proposal forward to City Council.
The BID concept follows existing private security funding in HOTA, which relies on voluntary monthly contributions.
Proponents say a BID could help preserve culture while expanding events beyond the Plaza.
Supporters argue a BID would 'level the playing field' for involved property owners.
The proposal would outline BID boundaries, budget, contributions and fund allocation for property owners.
Historic Old Town Association aims to keep the neighborhood moving forward with a formalized funding mechanism.

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