Downtown Business Improvement District
On July 17, 2012, Downtown Richmond property owners approved by 75% (weighted by assessment) the Downtown Richmond Property and Business Improvement District (DRPBID), a self-imposed and self-governed property tax assessment to fund and expand established environmental and economic enhancements that augment base level City services.
Business improvement districts are a proven revitalization tool for downtown districts throughout the country. Examples of how these districts have benefited neighboring communities include Oakland’s Temescal district, Downtown Berkeley, and the Laurel District in East Oakland.
The DRPBID will build on the momentum and investments already made in Downtown such as the new, beautiful streetscape on Macdonald Avenue and plaza on Nevin Avenue implemented by the former Redevelopment Agency and the newly renovated East Bay Center for the Performing Arts, which has brought a state of the art performing arts institution to Downtown. The DRPBID will also ensure that the community events and programs implemented by Richmond Main Street, which have made significant improvements to the district continue. Ultimately, the DRPBID will create lasting results, making Downtown more economically viable, attractive, and safe.
The DRPBID district encompasses the core of the Historic Downtown area along the Macdonald Avenue corridor bounded roughly by 6th Street, Barrett Avenue, Harbour Way, and 19th Street.
(click to enlarge)
Budget, Rates & Duration
The total improvement and activity plan budget for 2013 is projected at $183,092.00. As determined by stakeholder input during the formation phase of the DRPBID, the initial budget will be allocated in the following manner:
|Cleaning, Maintenance & Safety||55||100,700.60|
|Marketing, Promotions & Business Attraction||22||43,942.08|
Described in more detail in the District Management Plan, assessment rates are as follows:
$0.12 per parcel square foot per year for commercial parcels
$0.05 per parcel square foot per year for non-profit housing agencies
Residential parcels are exempt
Assessment rates may be subject to an increase of no more than three percent per year. The DRPBID has a five year life commencing on January 1, 2013.
For more information about the DRPBID, please download the District Management Plan (PDF).