Business Improvement District Information
What is an improvement district?
From the New Jersey Department of Community Affairs:
"An improvement district is a defined area, generally in the central business district of a downtown or a mixed-use corridor in a larger city, that is authorized by state law and created by an ordinance of the local government to collect a special assessment on the commercial properties and/or businesses in that area. That assessment is granted to a municipally-assigned District Management Corporation (DMC).
This entity is typically a non-profit organization, separate and distinct from the municipality itself. The DMC, which is typically governed by a board comprised of at least 50%+1 business & property owner stakeholders, sets the agenda, priority, and initiatives of the organization, in addition to hiring and supervising staff, and determining the annual budget and assessment amount. In a sense, the business community becomes self-governing: private resources from the stakeholders are assessed and used as determined by the businesses to fulfill what they see as the greatest needs of the downtown area.
The improvement district (whether "business," or "special," or "downtown" or some other name) is a model for management of the municipal commercial corridor. It is authorized by state law (the Pedestrian Mall and Special Improvement District Act, N.J.S.A. 40:56-65, et seq.) to be formed by ordinance in any municipality in New Jersey. The improvement district provides a mechanism for the businesses of a community to organize as a single entity, to raise funds for activities that supplement municipal services, and to manage themselves to become a more effective shopping/dining/commercial destination. The Improvement District itself is effectively a boundary of affected properties and businesses, and is defined by municipal ordinance."