General BID Information
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What is a BID?
A Business Improvement District, or 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. BIDs are grass roots, community driven organizations that require legislative authorization to be established.

How is a BID funded?
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.

Why form a BID?
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.

What specific services can a BID provide?
NY State Consolidated Law outlines services a BID can provide. These services include:
  • Streetscape Beautification
  • Sidewalk cleaning
  • Tree and flower planting
  • Seasonal decorations
  • Capital improvements such as trash receptacles, signage and planters
  • Marketing
  • Special events
  • Public relations
  • Fundraising
  • Business development and retention programs
The BID’s services are meant to enhance and complement the services already provided by the City of Troy.

Resources/Information about other BIDS
For successful examples of BIDs in other areas, please refer to the following websites: