Business Improvement District (B.I.D.)
We are currently exploring the possibility of developing a Business Improvement District (B.I.D.) in Hermosa Beach. We want you to be informed when making a decision regarding this possibility. Below you'll find information and resources related to BIDs. If you have additional questions or concerns, please reach out to Jessica Accamando at firstname.lastname@example.org.
What is a Business Improvement District?
BIDs are a stable funding source of organizations of business owners working to improve their business district. Owners within the district work together to make significant improvements, attract consumers and develop the area. Improvement districts are assessments, not taxes. Assessments have a specific term and plan, managed and approved by the payor, based on benefit to paying businesses and there is legal accountability to district plan.
There are currently 3 types of BIDs we're exploring:
- Business Improvement District (BID) - An assessment placed on the business.
- Hotel Improvement District (HID) - An assessment placed on room night stays.
- Property Business Improvement District (PBID) - An assessment placed on the property owner.