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ESTIMATING THE ECONOMIC BENEFITS A BUSINESS IMPROVEMENT DISTRICT WOULD PROVIDE FOR A DOWNTOWN CENTRAL BUSINESS DISTRICT

Journal of economics and economic education research, 2014-09, Vol.15 (3), p.89

Copyright Jordan Whitney Enterprises, Inc 2014 ;ISSN: 1533-3604 ;EISSN: 1533-3590

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  • Title:
    ESTIMATING THE ECONOMIC BENEFITS A BUSINESS IMPROVEMENT DISTRICT WOULD PROVIDE FOR A DOWNTOWN CENTRAL BUSINESS DISTRICT
  • Author: Ha, Inhyuck 'Steve' ; Grunwell, Sandra
  • Subjects: Assessed valuation ; Business improvement districts ; Central business districts ; Competitive advantage ; Economic conditions ; Property taxes ; Property values ; Public private partnerships ; Studies ; Tax rates
  • Is Part Of: Journal of economics and economic education research, 2014-09, Vol.15 (3), p.89
  • Description: Business Improvement Districts (BIDs), as public-private partnerships have proliferated in the U.S. and globally as a means of revitalizing downtown central business. This study examined the potential of a BID enhancing a downtown central business district, in western North Carolina. The article reports on the process town officials activated to determine if a BID was right for their town and the outcomes of the process. The process included gathering information about downtown businesses via a survey to provide feedback to the town officials in charge of the proposed BID to maximize input for the plan and estimating the economic benefits the proposed BID would provide to both residential and commercial property owners and tenants. The business owner survey results aligned very closely with programs most BIDs provide to local businesses and property owners. Findings from the economic analysis revealed that a BID would be of value in enhancing retail sales growth and increasing property values. Based on the results of the study, town officials voted to approve the BID.
  • Publisher: Arden: Jordan Whitney Enterprises, Inc
  • Language: English
  • Identifier: ISSN: 1533-3604
    EISSN: 1533-3590
  • Source: ProQuest Central

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