To cultivate the economic growth and development of the downtown Troy community by creating an increasingly inviting, dynamic and sustainable environment that celebrates the city’s history while building towards its future.

A Business Improvement District (BID) is a public/private partnership in which property and business owners elect to make a collective contribution to the maintenance, development and promotion of their commercial district.

For successful examples of BIDs in other areas, please refer to the following websites:
Information about BIDs in New York City
Downtown Ithaca's Business Improvement District: A good model
Downtown Albany BID
Cornell University's study on BIDs with lots of helpful information

BID programs and services are underwritten by a special assessment collected from property owners in the defined boundaries of the district. The assessment is levied on the property-owners, who may then pass it on to their tenants, if their lease contains such a provision. The assessment is billed and collected by the City and then disbursed to the District Management Association who in turn delivers the district’s services.

The purpose of a BID is to improve business conditions in a specific area, attract and retain businesses, generate jobs and improve the quality of life for those who use the district. A BID enables stakeholders to decide which services to provide to meet the district’s unique needs.