bid - South Fort Collins Business Association

MIDTOWN FORT COLLINS
BUSINESS IMPROVEMENT DISTRICT (BID)
A BID FOR MIDTOWN
Midtown is on the cusp of big change, and a BID could help
strategically manage this change while providing a strong voice
and leadership for the Midtown community. With the opening of a
new mall and significant investment taking place throughout the
corridor, stakeholders envision a refreshed future for the district,
one that reinvigorates the area with destination retail, higherdensity development, commercial opportunities and unique urban
living opportunities. The Midtown BID will partner closely with
the City of Fort Collins to deliver a distinctive identity, placemaking,
events, activities and people-oriented uses to create a new
shopping and entertainment hub in the heart of Fort Collins for
locals and visitors alike.
“As a property owner and property
manager of several properties in the
corridor, we think that the BID is a
vital next step in the much needed
improvement and enhancement of
the Midtown area.”
– Spiro Palmer, Palmer Properties
“The Midtown corridor is the spine that links CSU and Downtown to the community of South Fort
Collins. It’s renewed vitality is very important for the spirit and beauty of our wonderful town.”
- Rayno Seaser, Founder, The Egg & I Restaurants
WHAT IS A BUSINESS IMPROVEMENT DISTRICT (BID)?
A BID is a local district financing tool used to help stakeholders collectively plan, fund, and implement
services and improvements to their neighborhood.
BIDS:
• Are established by local stakeholders through a petition process and vote. Commercial property owners
sign the petition; commercial property owners and business tenants vote in a TABOR election.
• Raise money through an assessment on commercial property.
• Come together through the commitment of those invested in the area. Property and business owners
produce the boundaries, budget, assessment rate, and plan.
• Reinvest all money back into the area to fund collectively agreed-upon services.
SERVICES TO BE FUNDED BY THE MIDTOWN BID:
Midtown Promotion, Management, and Business Support
The go-to resource for Midtown, providing leadership and business support while creating strategic partnerships to
leverage resources and advocate for Midtown businesses’ needs and promote commercial sector development
Midtown Branding, Marketing, and Activation
Development of an authentic, compelling, and clear brand and marketing for Midtown and development of year-round
programming, events, and activities geared toward diverse demographic groups
Midtown Placemaking and Maintenance
Development of a unifying aesthetic through addition of public realm amenities; unique wayfinding signage
and gateways; greening and planting; and cleanup of sidewalks, litter, graffiti, and snow removal for a safe and
vibrant environment
FIRST-YEAR KEY PROJECTS
• Develop the Midtown brand and identity
• Hire staff to work specifically for Midtown, serving as a liaison to stakeholders and an advocate to the
City of Fort Collins on matters critical to Midtown’s future
• Establish a Midtown-branded wayfinding and signage program, including installing gateways into the
Midtown area
• Develop and implement a program of year-round events to be produced in partnership with local stakeholders
• Design and implement placemaking enhancements, including holiday lighting, public art, banners, and flowers
BID BOUNDARIES
The BID boundaries will include all commercial properties fronting College Ave. from
Prospect Rd. to Harmony Rd., as well as Foothills Mall parcels fronting Foothills Parkway.
BID ASSESSMENT RATE +
BUDGET
Only commercial property is assessed in a BID.
The assessment rate for the Midtown BID will be $10 per
linear foot fronting College Ave. within the BID boundaries.
The first-year budget will be approximately $300,000, which
will be leveraged with additional projects funded by the City
of Fort Collins.
BID GOVERNANCE + TERM
The Midtown BID plans to work with the South Fort Collins
Business Association (SFCBA), a 501(c)(6) organization that
supports the development of Midtown Fort Collins to deliver
its services and hire staff and will be governed by a ninemember board of property and business owners.
The BID will have an initial 10-year term, after which
stakeholders may ask City Council to renew the BID by
ordinance if successful, or disband the BID if dissatisfied.
Initial Midtown Board
Steve Taylor - Hot Corner Concepts
Rayno Seaser - The Egg & I
Mike Dellenbach - Dellenbach Chevrolet
David Fritzler - BBVA Compass
Spiro Palmer - Palmer Properties
Luke McFetridge - NewMark Merrill Mountain States
John Gaffney - Foothills Mall
Carrie Baumgart - Markley Motors
Lauren DeRosa - Wild Birds
BID BOUNDARIES
“The City of Fort Collins is committed to
a vibrant Midtown business corridor and
believes the BID will be instrumental in
creating this.”
– Darin Atteberry, City Manager
BID CREATION PROCESS
The BID creation process includes 3 key steps:
SPRING
BID Petition:
Signatures from BID
commercial property
owners representing
over 50% of assessed
value and over 50%
of acreage must
be obtained.
SUMMER
FALL
Public Hearing:
A public hearing
at Fort Collins City
Council will allow for
public comment on
the proposed BID once
petition requirements
are met.
TABOR Ballot:
A mail ballot to BID
electors must yield
simple majority
support for the BID.
“Foothills sees great value in supporting this BID. The
return on investment to Midtown property owners will be
exceptional and we see it as a chance to capitalize on the
rebirth of Midtown that is already underway. This is a chance
for us to step up and improve Midtown’s common areas,
services and entertainment programming (among other
things) and it is something that we are proud to be a part of.”
– John Gaffney - Foothills General Manager
For more information contact:
Luke McFetridge - SFCBA President
[email protected]
or 970-692-1310
www.SouthFCBA.org/MidtownBID
FORT COLLINS