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Council reviews Special Improvement District feasibility report, schedules ordinance process
Summary
A 15‑month steering committee presented a feasibility study recommending a villagewide Special Improvement District (SID) run by a not‑for‑profit Ridgewood Village Alliance; council agreed to add a resolution and pursue an ordinance schedule leading to possible adoption this summer.
Consultant Stuart Copperweiss told the Village Council the steering committee recommends creating a Special Improvement District, to be operated by a district management corporation (proposed name: Ridgewood Village Alliance), funded by an assessment on commercial and select residential properties in the district.
The report recommends a district that would include about 355 properties, with a two‑tier boundary (a central business district tier and outlying properties). The district management corporation would set its work plan and budget; assessments would be finalized after the DMC adopts a budget and the governing body attaches a Schedule A listing properties in the ordinance.
Stuart Capwise…
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