CBID

FINANCE

Financial Information

BID Annual Operating Budget* Summary for FY14-15 (July 1, 2014 - June 30, 2015)

 

Item Amount
Sidewalk Operations, Beautification and Order Programs $138,201
District Identify and Streetscape Improvements $24,519
Administration/Corporate Operations $55,329
Contingency/Reserves $4,457
TOTAL $222,506

 

*Due to grants, events, and sponsorships the overall projected operating budget of the Willow Glen Business Association exceeds $400,000 annually. The budget above reflects only those fees raised specifically by the CBID assessment.

Assessment Methodology: How property assessments are calculated

 

Zone # Street Frontage Acreage of Property Bldg Size
Zone 1 $8.905 per linear foot $.063 per square foot of land $.119 per square feet of building
Zone 2 $5.553 per linear foot $.063 per square foot of land $.073 per square feet of building

 

ZONE 1

Essentially most commercial property from Minnesota to Willow Street, including all properties fronting Lincoln Avenue.

Methodology Example

 

Item Price
Street Frontage 50 linear feet x $8.905 = $ 445.25
Acreage of Property 7,405 sq. feet x $ .063 = $ 466.52
Building Size 2,388 sq. feet x $ .119 = $ 284.17

 

Annual total = $1,195.94

 

ZONE 2

Essentially most commercially zoned property from Willow Street to Lester Avenue and Broadway Avenue, including all properties fronting Lincoln Avenue.

Methodology Example

 

Item Price
Street Frontage 50 linear feet x $5.553 = $ 277.65
Acreage of Property 7,405 sq. feet x $ .063 = $ 466.52
Building Size 2,388 sq. feet x $ .073 = $ 174.32

 

Annual total = $ 918.49

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