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Steering committee outlines proposed Special Improvement District and governance model
Summary
The Ridgewood Business Alliance steering committee presented a proposed Special Improvement District (SID) to fund marketing, streetscape upgrades and events. The ordinance (No. 4053) was introduced in July and scheduled for a second reading Aug. 13; final assessments and governance details will be set by the district management corporation.
Members of the Ridgewood Business Alliance steering committee described the proposed Special Improvement District (SID), its mission and preliminary governance and funding recommendations at the council workshop.
Stewart Copperweiss and steering-committee members said the district would be a municipal Special Improvement District under state statute and operate as a District Management Corporation. The board would be made up primarily of property and business owners (11–15 directors) with one council member appointed by statute. The committee described two funding tiers for assessments, a Tier 1 central business-district area with an illustrative assessment of about 4% and a Tier 2 ring at about 2%, though they emphasized those percentages and final formulas would be set by the district corporation and returned to council for approval.
Proposed SID services include marketing and branding, façade and lighting improvements, grant-writing and landlord-incentive programs, wayfinding, and event support. Steering-committee members and the chamber representatives stressed that the SID is intended to complement municipal programs rather than replace council responsibilities.
The ordinance (No. 4053) was introduced July 9; a second reading was scheduled for Aug. 13, and the council invited public comment at the upcoming hearing. If adopted, the district would incorporate (a certificate of incorporation), adopt bylaws and then present an annual budget for council approval.
What's next: the SID ordinance will have a second reading and public hearing; if adopted, incorporating officers will form the District Management Corporation and prepare detailed assessments and budget proposals for council review.
