|Midtown Property and Business Improvement District|
Next week the City Council will discuss renewing the Midtown Sacramento Property and Business Improvement District (PBID) for an additional five years and also form a new improvement district within the R Street corridor. The Midtown district was originally formed in January 2008 to provide a marketing/advocacy program to create a positive business atmosphere in the District.
|R Street Property and Business Improvement District|
Participation in the proposed PBID is to serve the public interest by providing security services, street maintenance, parking services, and marketing efforts to enhance economic development. If the Midtown PBID is renewed, the City will participate as a property owner and will have a total first-year annual assessment of approximately $22,250. This is an increase by $1770 due to the assumption of SHRA properties. If the R Street corridor PBID is formed, the City will have a total annual assessment of approximately $610. The City’s assessment will not increase for the five year authorization of the PBID.