Monroe BID approves $56,945 Main Street allocation and authorizes biannual disbursement

The Monroe BID board approved Main Street’s 2025 funding request of $56,945, approved the district’s property participation (assessment) list, and authorized disbursing the funds biannually.

Staff explained that the district changed last year from a fixed-dollar assessment method to calculating the levy by assessed property value; that method, combined with some property assessment increases, produces about a $3,000 increase over last year’s collections to an estimated $56,945. The mill rate for the BID assessment was stated as $1.50. The property participation list — the inventory of parcels subject to the BID assessment — was presented as consistent with prior years with two properties removed that had been misclassified previously; the board moved and approved the list by voice vote.

On funding disbursement, the board approved authorizing release of funds twice a year, noting the city and Main Street have used both quarterly and biannual approaches historically and that biannual payments reduce administrative burden for invoice requests.

Staff also briefed the board on overlapping taxing tools: TID 7 was described as producing increment, with an expenditure period ending in 2027 and an expected close around 2033; staff said increment can support some downtown facade or developer agreements while it is available, but distribution decisions rest with the city council and the joint review board.

All formal funding and assessment approvals were recorded as motions and adopted by voice vote; no roll-call tallies were included in the transcript.