Downtown Indiana business parcel owners are getting their first look at the new Business Improvement District plan, and one of the first things they will note is that it has a new name…the “BID” will now be known as the “IDIA”, which stands for Indiana Downtown Improvement Area.
Some other highlights of the plan will include an effort by Downtown Indiana, Incorporated to obtain state recognition as a Main Street program, which would qualify Indiana for additional funds for façade renovation and other public improvements.
The expanded boundaries of the plan includes all properties along the Philadelphia Street corridor between 3rd and 12th streets, including the side streets north to Nixon Avenue and south to Gompers Avenue; and properties along the south side of Nixon and the north side of Gompers.
The plan has been mailed to each affected property owner and is available at Downtown Indiana’s website. There are 253 properties involved. 226 are classified as full assessment payers, 14 as real estate exempted properties that will be asked to make a payment in lieu of assessment, and 13 are single family owner-occupied properties exempt from assessment.
The average annual assessment will be $663.72. Sixty percent of the affected property owners must approve the IDIA in order for Downtown Indiana to present it to borough council. If the plan is enacted, all assessed property owners within the IDIA boundaries would be compelled to participate. A public hearing will be held on July 11th at 6 PM in the Borough Council Chambers to address concerns with the new five-year plan.
