FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
2013 BUSINESS PLAN
DRAFT - May 13, 2013
FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
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AT-A-GLANCE
ORGANIZATION
LOCATION
The Federal Boulevard BID, a quasi-municipal corporation, will operate the BID through a part-time Executive Director and a fivemember board of directors.
The Federal BID is bounded by W 22nd to 27th Ave’s along both sides of Federal and West 25th and 26th from Federal to Eliot.
$$$ BUDGET Total projected budget for the first year of operation is approximately $50,000.
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ASSESSMENT Beginning in 2014, each tract of commercial property within the BID area shall be subject to annual property assessments in the amount of .10 percent of the assessed value of the property under the 2013 real property tax assessment done by the Denver County Assessor’ s Office. 2013 operations are being funded by a grant from Denver’s Office of Economic Development.
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“The 2013 work plan for the BID is very ambitious,” says the new Executive Director. “We aim to get the office up and running, provide economic and small business support services, develop a branding and marketing plan, establish a maintenance program for l a n d s c a p e improvements, and convene several public meetings beginning in the summer to vet ongoing activities and future plans. I am thrilled to be involved in the revitalization of the District and hope to positively contribute to the wellbeing of this historically rich and vibrant community.” - Nicole Bopp
FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
HISTORY
HISTORY In late 2011 the Federal Boulevard Partnership (Partnership), a 501c3 nonprofit organization of volunteers and local property owners, received a grant from the Denver Office of Economic Development (OED) to pursue organization of a Business Improvement District for Federal Boulevard. The district was three years in the making beginning with the streetscape project in late 2009 and involved countless public and well attended visioning and planning meetings. The process to formally organize the Federal BID in 2012 involved oneon-one meetings with all accessible commercial property owners, several public meetings to seek input on drafts of the operation plan with the proposed mill levy on commercial property owners, a petition signed by over 60% of the affected commercial property owners, unanimous passage of the Federal BID by Denver City Council, and the successful TABOR election November 6th, 2012. All interested were given the opportunity to participate and have input to the process and outcome.
PURPOSE FOR CREATION OF THE BID The Denver City Council created the Business Improvement District to promote and restore economic vitality to area businesses and enhance commercial development, which benefits the health, safety, and welfare of the citizens of Denver. BIDs have been established in downtowns and commercial districts throughout the State of Colorado, including Havana Street in Aurora, Downtown Denver, East and West Colfax in Denver, Cherry Creek North, South Broadway in Englewood, Downtown Boulder, Grand Junction, Durango, Manitou Springs and Colorado Springs. Prior to the created of the Federal BID, the most recent BID formed in the City of Denver was the West Colfax BID in 2007. The Federal Boulevard BID is a business improvement district organized pursuant to the Business Improvement District Act, Section 31-25-1201 et seq., Colorado Revised Statutes. The Federal BID will provide enhanced services to commercial properties located within the central business district. The BID will finance these supplemental services above and beyond those currently provided by the City. This approach has been used successfully in many downtowns across the country to reverse negative image, attract new customers, and increase occupancy rates and property values.
TAX ASSESSMENT The Federal Boulevard Business Improvement District is expected to be funded primarily through the an ad valorem property tax mill levy of up to ten (10) mills applied against the assessed value of the taxable commercial property within the BID. The ability to impose mill levies is based on a successful TABOR election in November of 2012 by the electors located in the district. There ar 30 taxable properties located in the district.
FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
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2013 GOALS
PROVIDE BUSINESS SUPPORT SERVICES Outreach to district businesses and commercial property owners to provide business and development support services.
ACTION ITEMS: 1. Hire Executive Director and open business office to facilitate delivery of business support services. 2. Research business support services currently available to BID rate payers. 3. Assemble a resource directory and library to be made available in the BID offices. 4. Market availability of business support services to district property and business owners.
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DEVELOP AND EXECUTE ENHANCEMENTS TO PHYSICAL ENVIRONMENT Work to improve the business climate, physical appearance, sense of place, and overall marketability of the district to attract new businesses, consumers and visitors. Improvements should contribute to security, convenience, efficiency and comfort for business owners and employees as well as local residents and visitors.
ACTION ITEMS: 1. Research and catalog status of existing physical improvements in the 2400 and 2500 block of Federal and 2900 block of W. 25th Avenues 2. Seek funding as needed to engage landscape/streetscape company 3. Seek master metering and/or account consolidation of district pedestrian lamps and irrigation systems 4. Repair broken lamps, poles and systems as resources allow 5. Engage Council District One and Denver Public Works in creating parking plan 6. Work with Parks and Recreation, CDOT and other transportation organizations enhance safety and walkability throughout District 7. Work with Parks and Recreation to offer greater flexibility for what is allowed in the Federal parkway setback 8. Consider applicability of applying for streetscape grant funding for the BID .
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DEVELOP BRANDING / MARKETING PLAN
Conduct a branding and marketing study designed to: define and name the BID for marketing purposes; articulate the benefits of the BID; recommend marketing strategies; provide BID color scheme and logo suggestions; recommend how to increase pedestrian traffic to and through the BID.
ACTION ITEMS: 1. Develop user-friendly BID website to advertise the products and services available in the BID district as well as a calendar of special events. 2. .Enhance BID Web site providing information about services offered by the BID and marketing district businesses.
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DEVELOP LONG-TERM STRATEGIC PLAN Examine a number of strategies for increasing profitability and expanding the scope of the BID enterprise. This includes working to make the Executive Director position full time.
ACTION ITEMS: 1. Seek public input regarding BID activities on a regular basis Identify alternative sources of income and develop financial plan 2. Work to develop collaborative partnerships in community 3. Create strategy for successful implementation of tax assessment.
2013 FOCUS AREAS Small Business Support Services
Branding & Strategic Plan
Physical Improvements
FIR S
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FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
TIMELINE
PROPOSED TIMELINE
FEDERAL BOULEVARD
BUSINESS IMPROVEMENT DISTRICT
BUDGET
PROPOSED BUDGET BUDGET ITEM ................................................................................................................................................................. TOTAL I. PROFESSIONAL SERVICES.......................................................................................................................................$39,750 A. Executive Director .......................................................................................................................................$21,000 B. Marketing and Branding Campaign Consultant/Firm......................................................................$14,000 C. District Attorney.............................................................................................................................................$4,000 D. Accountant...........................................................................................................................................................$750 II. DIRECT COSTS................................................................................................................................................................$3,155 A. Repair pedestrian lamp bulbs ....................................................................................................................$1,478 B. Utility costs for lamps....................................................................................................................................$1,477 C. Special District Association................................................................................................................$200 III. FACILITIES.....................................................................................................................................................................$2,625 A. Small office ($250/month x 10 months)..................................................................................................$2,625 IV. INSURANCE.................................................................................................................................................................$2,000 A. General liability insurance............................................................................................................................$2,000 V. COMMUNICATION.....................................................................................................................................................$1,290 A. Cell Phone for BID Office.................................................................................................................................$660 B. Internet for BID Office.......................................................................................................................................$630 VI. OFFICE EXPENSES.........................................................................................................................................................$780 A. Office Supplies.....................................................................................................................................................$210 B. Postage...................................................................................................................................................................$210 C. Printer.....................................................................................................................................................................$150 D. Misc........................................................................................................................................................................$210 PROJECT TOTALS: $50,000 Note: The budget is subject to change. Funds may be shifted from one budget item to another based on actual spending.
PREPARED FOR FEDERAL BOULEVARD BID STAKEHOLDERS BY FEDERAL BOULEVARD BID MAY 13, 2013
CONTACT: FEDERAL BOULEVARD BID 2931 W 25th Avenue Denver, CO 80211 Phone: (720) 364-8860