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The original item was published from 10/10/2016 12:05:59 PM to 11/1/2016 12:05:02 AM.

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Posted on: October 10, 2016

[ARCHIVED] Last Public Hearing on Downtown Business Improvement District Oct. 11

The Fremont City Council will conduct a public hearing at 7:00 p.m. Tuesday, October 11, 2016 in the City Council Chamber, 400 East Military, to hear public comments concerning the establishment of a downtown Business Improvement District (BID). The newly proposed BID will replace the existing Downtown Improvement District (DID) that has been actively working to develop and promote downtown Fremont for over 10 years. The authority given to the City Council to establish a business improvement district is through the Nebraska Business Improvement District Act Neb. Rev. Stat. § 19-4015 – 19-4038 (reissue 2015).
The BID, like the old DID, will work to strengthen existing businesses and attract new investments to downtown. Projects can include promotions and marketing, continued work through MainStreet of Fremont, beautification, physical improvements and other efforts to heighten interest in the downtown area. These projects are designed to combine Fremont’s unique history with updates to present a welcoming and vibrant atmosphere for people to dine, shop, live, work and play.

The proposed BID would be funded by assessments on real properties valuations within the BID and collected with County property tax. Former DID fees would end, reducing overall costs for businesses. For example, a property valued at $100,000 would pay $185 per year. Annual budget for costs and expenses of work are estimated at $48,195.62, and work to be performed over a five-year period would not exceed $240,978.08. Properties that are owner-occupied residential and properties that are exempt from ad valorem taxes will not be subject to the assessment.

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