CHARLESTON, Va. (WSAZ) – A new fund will help promote, beautify and improve facilities in the City of Charleston.
The Board gave its approval to the City Center BID Fund on Tuesday evening.
BID stands for Business Improvement District. The city center designated by the council will be represented by a seven-member council, made up of business owners from the district.
The “district” is made up of business owners within six blocks of Slack Plaza on Summers Street.
These members will create a budget, paid for by BID business owners, which will go to projects that would include marketing / branding, maintaining the cleanliness and safety of the area with an ambassador program. , lighting, landscaping and other things to improve the area.
According to the documents establishing the BID, it includes “37 commercial properties that belong to taxable entities”.
The approved measure estimates that the fund will generate $ 100,000 in the first year. The price that owners of commercial properties will pay is set in a formula based on the square footage of a property.
“The City Center Business District training is one of the most exciting programs taking place in Charleston. The investments in the community by this group of business owners are inspiring. Their willingness to work together to improve their neighborhood and to contribute financially to those improvements is a sign of real leadership, ”said Becky Ceperley, president of Charleston City Council.
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