The Raleigh City Council will hold a public hearing on a business improvement district (BID) proposed for Hillsborough Street on July 1 at 7 p.m. in the council chamber at the Avery C. Upchurch Government Complex, 222 W. Hargett St.
BIDs are a funding mechanism used to provide revenue for a variety of services that enhance existing municipal services in the business improvement district. Additional revenue collected from special assessments on property owners in a BID are used for maintenance, business recruitment, advocacy, management, marketing, security and other services. The City currently has a BID in the downtown area. The Downtown Raleigh Alliance manages the downtown BID for the City.
As required by state law, the City has sent notices to property and business owners in the proposed Hillsborough Street BID. The BID would run east-to-west along Hillsborough Street from St. Mary’s School to Meredith College. The BID’s southern boundary would follow the railroad right-of-way that crosses the N.C. State University campus. The northern boundary is generally areas one block north of Hillsborough Street. The proposed BID contains 121 acres of land and more than 2.5 million square feet of built space.
The City of Raleigh and members of the Hillsborough Street Partnership have worked with neighborhood residents, business owners and other property owners in studying the establishment of a BID along Hillsborough Street. Leading the City’s Hillsborough Street BID Formation Study is a volunteer steering committee which consists of Hillsborough Street property owners and others with an interest in the area. The City hired Downtown Professionals Network to manage the study.
More information about the Hillsborough Street BID can be obtained by visiting www.hillsboroughbid.com or contacting Kristopher Larson with the City of Raleigh Department of City Planning at 807-5220.