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Downtown JCMO - CID Presentation

Published on Nov 18, 2015

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PRESENTATION OUTLINE

1.

Downtown JCMO

Community Improvement District
Photo by Sasha Vasko moved to Ipernity
2.

Overview

  • What is a CID?
  • Why consider a CID?
  • How to establish a CID
  • How to fund a CID
  • Discussion/Questions/Survey
3.

Why Consider a CID?

4.

](1) Increase Property Values

5.

](2) For Mutual Benefit

6.

Office parks and shopping malls are developed, managed and marketed by a single management company. By contrast, ownership of downtown buildings is divided among 90+ individuals...

7.

...This situation makes it difficult to accomplish such tasks as advocating downtown interests, providing enhanced safety, promoting the downtown product, promoting downtown as a destination, and gathering and disseminating pertinent data on downtown’s progress. Such obstacles can easily be overcome by property owners working together and collaborating on initiatives FOR MUTUAL BENEFIT.

8.

All who benefit pay

No free riders
9.

proportional responsibility

For Essential services
10.

Right now, everyone pays $200 for Snow Removal, whether you have 100 feet of sidewalk or 500 feet of sidewalk.

Assessing per linear foot would proportion the responsibility.

11.

Essential Services

  • Snow removal
  • Lanscaping/Flowers
  • Sidewalk Maintenance
  • Holiday Lights
  • Security
12.

What you pay now

  • (Property Owners)
  • Dues = $150
  • Snow Removal = $125
  • Flower Basket (1) = $440
  • Total - Approx. = $715
13.

What you pay now

  • (Retail/Restaurants)
  • Holiday Promotion = $50
  • Small Biz Saturday = $40
  • Other Events = ~$50
  • Advertising = $??
14.

Free riders

APprox 13/70 People are not paying for snow removal
15.

Free Riders

APPROX 25/125 Businesses do not pay dues
16.

if you are already paying

The Goals is that you should pay The Same or less
17.

If you are not paying

the goal is that you will pay your fair share
18.

0ther Cids

249 Sales Tax CIDs in Missouri
19.

Other Downtown CIDS

  • Columbia
  • Branson
  • Excelsior Springs
  • St. Joseph
  • Springfield
20.

How to Establish a CID

21.

Untitled Slide

  • Petition circulated within the district
  • Approval by Majority of Prop. Owners
  • Approval by Majority of Assessed Value
  • Approval by voters (if Sales Tax)
  • Approval by City Council
22.

The petition

23.

Must include A five Year Plan

  • Purpose
  • Services/Responsibilities
  • Budget
  • Max rates of assessments/tax
  • How the CID would be governed
24.

How is it governed?

  • (Proposed Board)
  • 3 Property Owners
  • 3 Business Owner Designees
  • 3 Residents
25.

Old MUNichburg

26.

"CID may assess property up to $2.25 per linear foot frontage...along the designated 10 block area."

27.

Purposes: (1) provide for the benefit of the CID, improvement of publicly owned areas

28.

(2) provide maintenance, reconstruction and repair, landscape and streetscape maintenance, safety and security, blight determination, management and operations of hired staff and create a reserve fund.

29.

Southside Budget (Per Block)

  • Curb & Gutters ($40k)
  • Sidewalks ($60k)
  • Other-fencing, planters, decorative ($10k)
  • Total Cost (for 10 blocks) = $1.1 mil
30.

Annual Costs

  • Contribution to Improvements ($14k)
  • Clean-Up/Weed Control ($1.5k)
  • Beautification ($2.5k)
  • Reserve ($.5k)
31.

How do you fund it?

Special Assessment or Sales Tax
32.

special assessment

$8 per linear foot =Revenue of $42k
33.

Examples

  • 103 East High (Sawadee) = $80
  • 215 East High (Kress/Pfennys) = $485
  • 308 E High = $544
  • Governor Hotel = $840
  • [Assuming $8 per linear foot]
34.

Options for asssessment

different amounts for different "Zones"
35.

Who Pays

Property owners (could pass cost on to tenants via lease)
36.

Sales Tax

up to 1%
37.

Sales Tax RATES in JCMO

  • Downtown = 7.725
  • Capital Mall = 8.725
  • Eastside Walmart  = 8.725
  • Stoneridge (Kohls) = 8.725
38.

Area Sales Tax RATES

  • Downtown JCMO = 7.725
  • Lake Ozark (Outlet Mall) = 7.975
  • Columbia Mall = 8.475
  • Downtown Columbia = 8.475
  • Downtown Branson = 9.600
39.

$19 Million

Estimated Total Sales for District
40.

Funds from Sales tax

  • 1/4  cent= $47,500
  • 1/2 cent = $95,000
  • 3/4 cent = $142,500
  • 1 cent = $190,000
41.

Examples for 1/4 cent

  • $10 purchase - increase of 2.5 cents
  • $25 purchase - increase of 6.25 cents
  • $100 purchase - increase of 25 cents
  • $250 purchase - increase of 62.5 cents
42.

Who pays

people who eat & Shop in Downtown JCMO
43.

current downtown budget

44.

Downtown Budget 2014

  • Revenue - Dues - $13k
  • Revenue - Fundraiser - $10k
  • Revenue - Snow - $4k
45.

Downtown Budget 2014

  • Expenses - Flowers - $6.5k
  • Expenses - Lights - $3k
  • Expenses - Snow - $8k
  • Expenses - Events - $0k
  • Expenses - Insurance - $4k
46.

Downtown Budget 2014

  • Expenses - Office - $1.25k
  • Expenses - Advertising - $3k
  • Expenses - Maps - $1k
  • Expenses - Web - $.5k
  • Dues/Seminars - $1k
47.

PRoposed District

48.

Untitled Slide

49.

PRoposed CID Budget

With $8 Per linear Foot & 1/4 Cent Sales Tax on zones 1-4
50.

No dues

Everyone in District would be a "Member"
51.

Untitled Slide

52.

Options

  • No CID
  • CID with Special Assessment
  • CID with Sales Tax
  • CID with Both
53.

Questions?

Email info@downtownjeffersoncity.com
54.

Take the Survey

www.downtownjeffersoncity.com

Stephanie Bell

Haiku Deck Pro User
www.myjcmoblog.com