What is a
A Business Improvement
District, or “BID,” is a downtown organization through which property
and business owners in a designated area cooperate financially to provide
services needed to market, maintain and manage the downtown.
They are permitted by state legislation that authorizes municipalities
to create BIDs to “initiate and administer programs to promote and enhance
more attractive and safer commercial, industrial, business districts
and business climates. In essence, BIDs are “self-help through self-taxation,”
similar to Common Area Maintenance (CAM) fees used to finance operations
of shopping centers and office parks. There are over 1,200 BIDs in the
U.S. and Canada. Nearby BIDs are in Philadelphia (Center City, Manayunk,
Old City, South Street, University City,) West Chester, Ardmore, Lancaster,
Allentown, Reading, Wilmington, DE (downtown and waterfront) and Media.
The BID plan allowed
OMI to continue its successful downtown Oxford revitalization programs.
OMI was organized in 1999 to promote business development within Oxford’s
historic downtown business district. While OMI receives financial
support from Oxford Borough and local fund raising efforts, prior to
the BID Plan, bulk of the funding came from the Pennsylvania Main Street
program. By design, the state funding ended on December 31, 2006, and
the BID tax revenue replaced those funds with support from the very
businesses OMI was organized to serve.
BID Plan Objectives
Customer Marketing: to attract customers and visitor to Downtown Oxford increasing out market competitiveness with shopping centers, office parks and tourist destinations.
Business Attraction: to attract, retain and expand businesses in Downtown Oxford, reduce commercial/retail/office vacancy rates and promote new development opportunities
Design: to create an environment which protects property investments and enhances property values by promoting historic preservation, streetscape improvements and providing financial assistance for well-designed building façade improvements and business signage
Downtown Advocacy: to ensure that Downtown Oxford is clean, attractive and safe by working with Oxford Borough to pursue effective police, zoning and public works programs.
Downtown Organization: to provide stable, private funding for Downtown Oxford management and program initiatives by complementing existing funding programs of OMI.
Oxford’s BID Plan will be
in effect for a period of five years from the date of approval. Continuation
of services and property assessments will require a new plan and approval
at that time.