Melrose Village BID moves toward reality

Efforts to start a Business Improvement District (BID) for Melrose Village are moving forward.  We just heard about it from Denis Weintraub, one of the leaders of the new Melrose Village Property Owners Association, which is spearheading the BID process.

Denis said that Los Angeles City Council member Paul Koretz should be bringing a motion before the Council to approve the BID by Thanksgiving.

The property owners would then need to vote to establish the BID, by essentially raising their own property taxes.  The funds raised this way would pay for the BID activities, which could include cleaning up the streets, providing private security patrols, increasing trash pickup, painting over graffiti, and promoting and advertising the business district and its unique stores and restaurants.

A BID is especially needed now that the City of Los Angeles is in poor financial shape and is struggling to provide even basic services.

An effort to start a BID on Melrose in the late 1990s failed to come to fruition.  In the ensuing years, though, commercial property owners have witnessed the effectiveness of BIDs in central Hollywood, downtown Los Angeles, Old Town Pasadena, West Hollywood, and many other areas.

If all goes well, the Melrose Village BID should be fully up and running in about a year.  We will bring you more information as events unfold.

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3 Responses to Melrose Village BID moves toward reality

  1. Marty says:

    If they are raising property taxes and rent cost increases, it will get more businesses out of the area. Fewer businesses means a lower return per marketing dollar.

    With 40+ empty store fronts, it is about time property owners lower the rent. As leases expire, it is only a matter of time before more businesses close. It make no business sense to keep the rent high.

    Empty store fronts affect nearby stores. Every store could be occupied, even if some are just pop-ups.

    November 11, 2010, 5:00PM EST
    The Staying Power of Pop-Up Stores
    Procter & Gamble and Levi Strauss are using pop-up stores to connect with customers and build their brands in new ways
    http://www.businessweek.com/magazine/content/10_47/b4204026293305.htm

    SEPTEMBER 8, 2010
    Toys ‘R’ Soaking Up Mall Spaces
    http://online.wsj.com/article/SB10001424052748704362404575479811582406910.html

    MAY 11, 2009
    Real Estate With a Past
    When a small business looks for a new location, a vacant space raises a question: Once a loser, always a loser?
    http://online.wsj.com/article/SB20001424052970204475004574126870430048240.html

  2. Pingback: Melrose Village BID to Launch January 1 | Melrose Village Blog

  3. Pingback: Melrose BID Crosses the Threshold | Melrose Village Blog

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