A business improvement district (BID) is a designated area within which property owners pay a fee in order to fund improvements within the district’s boundaries. Downtown Caldwell's BID will be administered by Destination Caldwell with a BID Board comprised of downtown property owners who have a vested interest in downtown.
The Downtown Caldwell BID will provide partial funding for the operations of Indian Creek Plaza, including, but not limited to, management and staffing, scheduling, marketing, beautification and programming of year round events at the Plaza. It is estimated that Indian Creek Plaza will draw between 300-2000 people to downtown Caldwell 250 days of the year, or 330,000 patrons. Based upon projections, it is estimated the first full year of Plaza operation will result in an economic impact of $2.7 million to the Caldwell community from events and activities hosted at Indian Creek Plaza.
All properties within the Downtown Caldwell Business Improvement District are subject to an annual assessment from the City of Caldwell that will be passed through to Destination Caldwell for the management and operations of Indian Creek Plaza. Property owners located within the district’s boundaries will receive the assessment via the City of Caldwell. Assessments are billed in January and are due in full by March 1st.
For more information about the BID, and a peek at what else is coming to downtown, click on the Destination Caldwell link below.