What will a BID do?
A Business Improvement District (BID) is an economic development organization that allows for targeted investment in a cluster of primarily commercial properties with the purpose of increasing economic vitality.
Services
A BID can offer services to address the specific needs of Hyattsville Crossing businesses and residents. Stakeholder engagement has led to four key service priorities for the BID’s first-year operations: Public Safety & Hospitality, Marketing & Events, Economic Development, and Administration.
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The BID would likely convene a range of security providers to identify and address safety needs most salient to property owners, business, and residents. By offering a platform to discuss issues and coordinate with relevant authorities, the BID can deliver greater public safety impact.
The BID might contract “safety ambassadors” -- unarmed, uniformed, friendly faces that provide hospitality and cleaning services.
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The Hyattsville Crossing BID would utilize social media and marketing to amplify businesses, events, and other attractions to create a destination for residents, employees, and visitors.
The BID could host events like summer concerts, movie nights, holiday events, farmers markets, business networking sessions, and more.
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The BID can support equitable economic development in Hyattsville Crossing by providing support to small businesses and vulnerable populations, which may include networking sessions, information about funding opportunities, and connection to services.
The BID would also establish partnerships between public and private stakeholders. It could advocate for capital projects to improve the built environment and catalyze development by conducting outreach to brokers and prospective tenants, hosting business attraction events, and providing real-time research and market data.
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The BID will be led by an Executive Director and supported by additional staff in subsequent years as the budget grows.
The Executive Director and leadership will ensure focused time and attention on Hyattsville Crossing. They will be directly accountable to BID stakeholders, reporting to a BID Board of Directors.
BIDs bring value to local property and business owners through maintenance of shared spaces, additional marketing and events, attraction and retention of businesses, capital improvements, and improved safety measures.
A Hyattsville Crossing BID can achieve
Vibrancy: Enhancing community experience and amenities
Identity: Reinforcing the unique character and elevating
public awareness of the area
Regional Competition: Attracting and retaining businesses
and residents
Economic Health: Promoting job growth and inclusive economic development