Beginning in January 2024, property owners on Broad Street between Spring Garden and West Indiana Avenue will be required to pay an annual fee based on the property’s assessed value in exchange for improvements and maintenance to the once-thriving business corridor.. NBR, a nonprofit, has already been leading cleanup, promotion, and other initiatives along North Broad associated with a BID, but it hopes that the BID brings a more sustainable source of funding for its efforts.
Ruben Lacroix, the owner of Barbers of Broad, had to move his shop a couple of blocks north a few years ago, after the building was sold. “Every business that used to be next to me has either moved or [has gone] out of business,” he said. Commercial property owners pay the levy but can pass the costs on to customers, renters, or business ownersPrivate residential properties and nonprofits will NOT be assessed
“Certainly, you gotta be realistic,” he said, acknowledging that the improvements will come at some cost. Still, Hayman is excited about what the BID can bring. “I’ve seen it work over the years,” he added. “If I was there, I would sit around, pull all [the] businesses together, and [ask] how can we make this a hit, how can we make this work? I got a lot of ideas. I’m a very intelligent brother. I got a lot of ideas,” Thomas said.
She said that NBR sent postcards and other informational mailings to businesses and other locations, even places that wouldn’t be directly affected by the BID. Thomas said that NBR also went door-to-door, attempting to speak with business owners about the district.