Fiscal Note
The 2021 Operating Plan for Madison’s Central Business Improvement District anticipates expenditures of approximately $300,000. The 2021 Executive Operating Budget maintains the current contribution to Madison’s Central Business Improvement District (BID), which is budgeted in the Planning Division at $65,500. No additional City appropriation is required.
Title
Approving the 2021 Operating Plan for Madison’s Central Business Improvement District.
Body
The proposed resolution approves the 2021 Operating Plan for Madison’s Central Business Improvement District (BID). The 2021 Operating Plan anticipates expenditures of approximately $300,000 funded with a BID assessment of approximately $300,000. The BID is not budgeting additional outside revenues at this time for 2021. No City appropriation is required.
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’s Central Business Improvement District, and adopted its initial operating plan.
Madison’s Central Business Improvement District (BID) is governed by a Board of Directors, who are appointed by the Mayor and confirmed by the Common 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. Madison’s Central Business Improvement District was last renewed in 2019 for a 2020-2024 term.
WHEREAS Madison’s Central Business Improvement ...
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