PID Renewal Process Begins
23 May 2008
by: Andy Taft
Downtown Fort Worth, Inc. has held four property owner meetings throughout the center city to discuss the future of the Downtown Public Improvement District. In recent years, responding to the increased value of downtown properties, the PID Advisory Board has lowered the assessment rate from 12 cents to 11 cents...while at the same time expanding services throughout downtown.
Many PIDs have no termination date, and an important new change being recommended to property owners for the next renewal cycle is the expansion of the authorization period from 5 to 20 years. This will allow the PID to think, act and commit more strategically over a longer period of time. Naturally, the annual budgeting process through the city will continue, but the every 5-year administrative task of petitioning the downtown property owners will be avoided.
Petitions will be mailed to property owners in June. Please be on the lookout for yours, read it carefully, and return it to us with your indication of support.
If you have any questions, please call Todd at (817)870-1692.