The Fremont City Council will continue the public hearing process at 7:00 p.m. on Tuesday, October 25 and November 8, 2016 in the City Council Chambers, 400 East Military, to receive public comments and conduct second and third readings of the ordinance to establish a downtown Business Improvement District (BID). Discrepancies in BID boundaries and property owner notification were discussed at the last Council meeting October 11. The City has since mailed property owners the boundary clarifications and notice of upcoming public hearings.
Brian Newton, Interim City Administrator said, “Thanks to the comments received during the public hearing on October 11, several inaccuracies were brought to light regarding the proposed BID boundary and effected property owners. A corrected boundary description, which aligns with the existing downtown zoning district, has since been mailed to property owners in the proposed BID. The public will have the opportunity to comment on the changes at the October 25 and November 8, 2016 public hearings.”
The 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.