NEXT: Newark, Ohio Special Improvement District
Designing Local has begun work for the Newark Community Investment Corporation (CIC) on a special improvement district (SID) in downtown Newark. A SID is an economic development tool that allows property owners to establish a program for services and improvements in a defined boundary and pay for those services and improvements with an assessment on all properties in the boundary. Having a unified organization such as a SID allows property owners to work together to improve the areas around their properties, attracting investment in the area. In Ohio, property owners must petition their City Council to create a SID. This petition must be signed by property owners representing 60% of the frontage in the boundary in order to be approved.
The Newark CIC would like their SID to provide a mix of clean and safe services for their downtown, which has experienced a revitalization from the installation of a public market, roundabouts in their historic square, and streetscape improvements. Designing Local is creating service alternatives and a budget for these services, as well as interviewing property owners to gauge interest in the SID. If property owners support the creation of a SID, Designing Local will lead the petitioning process on behalf of the Newark CIC.
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