A Business Improvement District (BID) is an economic development organization that allows for targeted investment in a neighborhood or commercial district with the purpose of increasing economic vitality. A BID for Hyattsville Crossing would operate on a budget derived from an assessment on properties within the BID as well as an anticipated annual public contribution.

BIDs provide services over and above those offered by government entities and individual properties. They bring additional value tailored to the needs of an area through services such as maintenance of shared spaces, marketing and events, attraction and retention of businesses, advocacy for capital improvements, and safety measures.

Stakeholders have identified four key service priorities for the BID’s first year operations: Public Safety & Hospitality, Marketing & Events, Economic Development, and Administration.

BID staff can serve as great advocates and conveners for a neighborhood.

The opportunity for a BID in Hyattsville Crossing is especially strong given community stakeholder interest, development momentum throughout Prince George’s County, and successful models from many precedent BIDs in the DC region.

Establishing a BID in Hyattsville Crossing aligns with City and County priorities for economic development, including recent efforts to promote mixed-use, walkable development around Metro stations, including the Hyattsville Crossing Metro Station. Recent state legislation has enabled a BID to form in Prince George’s County.

There are 11 BIDs in DC and several in Northern Virginia that support commercial corridors to achieve improved cleanliness, maintenance, safety, marketing, economic development, and more. The Hyattsville Crossing BID has drawn from best practices from established BIDs, including facilitating a discussion with Capitol Riverfront Executive Director Michael Stevens, linked here.

The Hyattsville BID, if established, will be the first BID in Prince George’s, setting a model for transformative economic development throughout the County.

For details on what neighborhoods in the City will be included in the BID, please see our proposed boundary.

The majority of the BID’s operating budget will come directly from commercial and multifamily properties located within the BID, through a special property assessment. To support an impactful budget while minimizing risk of displacement, the assessment is currently proposed at $0.08/$100 of assessed property value. Per Maryland State law, condos located within the BID area are also able to petition to join the BID, in which case they would also be subject to the assessment.

It is also anticipated that public funding from the City of Hyattsville and Prince George’s County will support the BID.

As the BID matures, it may produce revenue from events, and BID staff may seek grant funding available to non-profit organizations.

The BID assessment applies to commercial and multifamily properties who pay property taxes. As the mission of the BID is to support economic development and vitality for all of Hyattsville Crossing, its constituency includes business owners, residents, community service providers, and employees of the district.

Once formed, the BID will be a nonprofit entity, with an Executive Director and staff governed by a Board of Directors. State legislation requires that "the board shall be representative of property owners, business owners, residents, and representatives of the local jurisdictions within the boundaries of the business improvement district.”

Following a feasibility study completed in 2022, Hyattsville Crossing property owners and community stakeholders have been convening as a steering committee to guide the formation process. The City of Hyattsville, Prince George’s County, and a consultant team continue to provide ongoing support to the Formation Steering Committee. 

The formation process has been made possible to date through funding and leadership from the City of Hyattsville.

The estimated timeline for BID establishment is late 2024.

Once the signatures of owners of 51% of the properties are collected, the Formation Steering Committee will submit documentation to the County. There will be a public hearing on the application, and the County Council will evaluate the application and authorize the BID.

We want to hear from you! If you’re a property/business owner, resident, or community stakeholder that is interested in getting more involved in BID planning, please reach out through our feedback/contact form.