Fiscal Note
The proposed resolution approves the 2020 Operating Plan for Madison’s Central Business Improvement District (BID). The 2020 operating plan anticipates expenditures of $474,215.04 funded with a BID assessment of $289,215.04 and $185,000 in other revenues. The 2020 Executive Operating Budget for the Planning Division includes a $65,000 contribution to the BID. No additional City appropriation is required.
Title
Approving the 2020 Operating Plan for Madison’s Central Business Improvement District (#1)
Body
The proposed resolution approves the 2020 Operating Plan for Madison’s Central Business Improvement District (BID). The 2020 Operating Plan anticipates expenditures of $474,215.04 funded with a BID assessment of $289,215.04 and $185,000 in other revenues. No City appropriation is required. To approve the 2020 Operating Plan for Madison's Central Business Improvement District (#1). Wisconsin State Statute 66.1109, often referred to as the "BID Law," authorizes cities to create Business Improvement Districts "to allow businesses within those districts to develop, to manage, and to promote the districts and to establish an assessment method to fund these activities."
Under 1999 Wisconsin State Statute 66.608 the City of Madison on December 7, 1999, created Madison Business Improvement District #1, known as Madison Central Business Improvement District, and adopted its initial operating plan.
The Madison Central Business Improvement District (#1) is governed by a Board of Directors, who are appointed by the Mayor and confirmed by the City Council.
The State enabling legislation requires that the Board of Directors of the BID annually consider changes to its operating plan and submit a revised operating plan to the local legislative body for approval. The BID Operating Plan contains a sunset clause requiring affirmative renewal of the District by property owner vote every 5 years. The District was last renewed in 2019 for a 2020-2024 term.
WHEREAS ...
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