Loading...
//Improvement Districts
Improvement Districts 2017-09-12T23:55:50+00:00

IMPROVEMENT DISTRICTS

P.U.M.A. is a leading place management consultancy specializing in the creation and renewal of business improvement districts (BIDs).  Since 1994, the firm has created more than 75 BIDs that collectively generate more than $85 million annually to help maintain, secure, market and manage downtowns and business districts. Our experience includes working with many types of improvement districts, development authorities and urban renewal in a variety of urban and community development contexts.

District Creation, Expansion, and Renewal

P.U.M.A. brings experience from throughout North America and a track record of success to business improvement district (BID) development. Crafted to fit local legislation, politics and markets, we work with communities to start, renew, expand and consolidate BIDs. We stimulate community engagement through a participatory process of discovery with property owners, merchants, residents and other stakeholders, who guide us as we determine priorities and develop an overall management game plan.

What is a Business Improvement District (BID)?

A business improvement district (BID) is a private sector initiative to manage and improve the environment of a business district with services financed by a self-imposed and self-governed assessment. Similar to a common area maintenance (CAM) charge commonly found in shopping malls and office parks, a BID can help a business district increase its competitiveness in the regional marketplace. Services financed by a BID are intended to enhance, not replace, existing city services.

Benefits from BIDs, which can stretch well beyond their boundaries, include:

  • Creating and maintaining a cleaner, safer and more attractive business district

  • Ensuring stable and predictable revenues

  • Providing innovative management

  • Responding quickly to market changes and community needs

  • Helping to increase property values, sales and occupancies

  • Promoting a distinct identity

  • Leveraging resources

  • Maximizing accountability to stakeholders who pay into the district

  • Creating a unified voice to increase a district’s influence

Learn More About Us