The Downtown Richmond Property and Business Improvement District (DRPBID) is a public-private partnership managed by Richmond Main Street Initiative (RMSI) and is funded by annual assessments on commercial and non-profit housing parcels. DRPBID funds pay for services and activities designed to make Downtown economically viable, safe, and attractive.
Services, Budget & Duration
Assessment rates are as follows:
Commercial: $0.12 per parcel square foot per year
Nonprofit housing: $0.05 per parcel square foot per year
Residential parcels are exempt
Assessment rates may be subject to an increase of no more than three percent per year. The current DRPBID has a five-year-life that commenced on January 1, 2013. The renewed DRPBID will have a five-year-life beginning January 1, 2018.
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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. On July 11, 2017, Downtown property owners approved the five-year renewal of the district by 64% (weighted by assessment).
Since implementation, the DRPBID has built on the momentum and investments already made in Downtown and ensured the continuation of Richmond Main Street’s community events, economic development programs, and cleanliness and safety work.
Richmond Main Street & DRPBID
As a community-based organization, Richmond Main Street has the distinct pleasure to work with a diverse group of stakeholders who support our work, including residents, business owners, city government officials, and community organizations. We are proud to work with a group of committed, hard-working staff, board members, and volunteers who have helped RMSI attain remarkable achievements.
Richmond Main Street continues to experience great success with our signature activities:
- Promoting the arts and Downtown with Music on the Main, Art In Windows, Spirit & Soul Festival, andDowntown Holiday Festival
- Supporting entrepreneurs and small businesses through Richmond Business Bites and partnerships with technical assistance providers
- Investing in youth by offering our annual Summer Youth Entrepreneur Program and hosting interns
- Creating and increasing access to health and wellness activities through the Healthy Village Festival, weekly Fitness Classes, and our partnership with Freshest Cargo Mobile Farmers’ Market.
- Keeping Downtown clean and safe, and providing jobs to residents, with our ambassador program, managed by Safety1st
Richmond Main Street is growing by leaps and bounds. We have a bright future ahead and expect to continue to be the catalyst for positive change Downtown. We invite everyone to join our efforts building on this momentum as we renew the DRPBID and strengthen this public/private partnership to revitalize Downtown.