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Cherry Creek North Business Improvement District

Cherry Creek North Business Improvement District. IDA Conference: “The CCNBID as a Public/Private Partnership”. September 23, 2012. CHERRY CREEK NORTH BID – Denver, Colorado. First BID in Colorado in 1989 by state statute City and County of Denver approves Board, budget, operating plan

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Cherry Creek North Business Improvement District

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  1. Cherry Creek North Business Improvement District IDA Conference: “The CCNBID as a Public/Private Partnership” September 23, 2012

  2. CHERRY CREEK NORTH BID – Denver, Colorado • First BID in Colorado in 1989 by state statute • City and County of Denver approves Board, budget, operating plan • “Stand alone” BID • New 501c6 for advocacy • Premier shopping, dining, mixed-use destination

  3. KEY BID STATS • 16 block area • Budget – $4M annually (property tax levy on commercial) • $1M – debt service for BID bonds • $1M – marketing • $1M – physical environment/parking management • $1M – other services/administration • 12 Board members and 10 Staff

  4. BID’S STREETSCAPE RENOVATION PROJECT • First major improvements since 1989 • Paid for with $18.5M of District funds (no City dollars) • Project finance, design and construction managed by BID • Won IDA Merit award in 2011 • Won ENR Mountain States award in 2011

  5. AREA ECONOMIC SUCCESS MEASURES • Vacancy/lease rates (especially retail) • Sales and property tax collection rates • Private sector investment • Customer satisfaction survey/brand recognition • Retail success rates (opening/closing ratios)

  6. COMMUNITY IMPROVEMENT MEASURES • Upgraded infrastructure • Support for the City/community • New parking meters • New area plan • Redevelopment project approvals • New zoning/design guidelines • Effective public/private partnerships • New area business alliance • Visit Denver Inc. • Cherry Creek Arts Festival

  7. ORGANIZATIONAL MEASURES • Financial and program management • Board/committee/staff development • Short and long term planning • Community communication/involvement

  8. LEADERSHIP DEVELOPMENT (ULI) • Identify motivated, capable, representative leaders • Establishing norms – trust/honesty leading to “best practices” • Continuing education, research, formal/informal interaction • Ongoing leadership succession

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