Coming out of the pandemic, all businesses are rethinking their business model, including place management organizations. This presentation examined how strategic planning for place management organizations is also translating into the renewal of PBIDs, the primary source of funding for many downtowns in the west. The results may surprise you as illustrated by two downtown organizations that are innovating, and pushing PBID boundaries, including aggressive increases in funding.
BID Renewal
Sub Categories: BID Renewal
Planning for a New Downtown Management Organization
In the late 2000s, the City of Tulsa, being dissatisfied with the management of the downtown improvement district, disbanded the private downtown management organization in place by terminating the long-time improvement district. In 2018, a new mayoral administration evaluated the existing downtown management structure and determined that a public-private partnership model should be explored. DCC staff developed a planning scope and timeline to convene stakeholders and partners for the process.
BallstonConnect
As our organization was not formed with residents in mind, we had to think strategically about how we could best encourage and engage our growing number of multi-family properties and tenants. We determined that to secure the long-term sustainability of the BID, we must work in partnership with our multi-family owners and inspire them contribute resources and perspective to the BID. We developed BallstonConnect Club, an all-inclusive, membership program now covering over 3,000 residents growing!
Making the Switch: Branding the Organization
In 2011, the Downtown Denver Partnership acknowledged the need for a cohesive brand for downtown Denver and embarked on a branding campaign that encouraged residents, visitors, and employees to enjoy all that downtown Denver had to offer. The downtown Denver brand was already beginning to surface organically as the city emerged from an economic downturn, and the Partnership embarked on creating a strategic marketing strategy to more intentionally encapsulate the place brand.
NYC BID Trends Report – Telling the Story of NYC BIDs
The annual NYC BID Trends Report targets multiple audiences, serving both a promotional and educational role for the public and NYC BIDs themselves. SBS collects, analyzes, and features program output data, budget information, and highlights of exceptional programming in this report each year. The report highlights the overall impact and financial data for all BIDs and expense and output data organized by comparable BID cohorts. The report also provides financial and output data from individual BIDs.
Strategic Planning for Downtowns
Whether it’s preparing for P/BID formation or renewal, or to refresh a downtown management organization that needs to diversify its funding and approach, strategic planning is an essential tool to guide downtown managers and board members. This session will provide an overview on the benefits of strategic planning for downtown organizations, and then focus on two recent strategic planning efforts undertaken for the Old Pasadena Management District and the iconic Santa Monica Pier.