BID Resources and FAQs
Resources and FAQ
See below for a list of resources and frequently asked questions regarding the Hyattsville BID. Have a question that isn’t answered here? Reach out to us! Let us know your question through our feedback/contact form.
Business Improvement District Toolkit – In 2020, Prince George’s County Planning Department commissioned a Business Improvement District Toolkit for the County to act as a guide for community leaders in assessing BID feasibility in their area and preparing for, forming, and operating a BID.
What is a Business Improvement District (BID)?
- A Business Improvement District (BID) is an economic development tool that allows a geographic cluster of commercial property owners to collectively invest in activities that improve economic vitality.
What services does a BID provide?
- BIDs bring value to local property and business owners through maintenance of shared spaces, additional marketing and events, attracting/retaining businesses, capital improvements, and better safety measures.
What outcomes does a BID achieve and why in Hyattsville?
- BIDs can support job growth and economic development in a community, establish a sense of place, preserve and grow real estate value, and improve on the fiscal health of a jurisdiction.
Recent State legislation and efforts have created an opportunity for the City of Hyattsville to explore forming a BID that will allow property and business owners to benefit from future investment. Establishing a BID also aligns with County priorities to invest in commercial corridors throughout the county to foster more economic vitality.
Are there examples of successful BIDs in the area?
- DC has many successful BIDs, including the DowntownDC BID, Adams Morgan BID, and NoMa BID that support commercial corridors around the region and provide services that businesses and residents can benefit from. In Montgomery County, the Silver Spring BID will soon be launched as well and will be a legislative model for the Hyattsville BID.
What areas of Hyattsville will be included in the BID?
- For details on what neighborhoods in the City will be included in the BID, please see our proposed boundary.
Who can be members of the BID?
- Property owner approval is required to establish the BID, while business owners and community organizations can still participate in BID leadership and management.
Who funds the BID?
- The BID will have a total budget that will be partly or completely funded by a “BID tax” assessment which is applied to all eligible properties within the boundary. The assessment rate will be approved by the property owners after significant engagement and feedback is received from property and business owners. Other county and local funds/resources may also be used to support the initial funding of the BID to supplement the property owner contribution.
What does the timeline look like for the creation of the Hyattsville BID?
- In the second half of 2022, the City will conduct comprehensive stakeholder outreach with property and business owners to form a steering committee, develop a BID business plan and approve BID legislation. Legislation must be approved at the County level to establish the BID.
What is the steering committee and how can I join?
- The steering committee will be a group of community stakeholders (property and business owners, residents, developers, cultural/civic institutions, etc.) that will govern the BID. More information will be provided at a later date on how to join the committee. If interested, please submit your interest through the feedback contact form.
How do I get more involved in the BID planning process?
- We want to hear from you! If you’re a property/business owner, resident, or community stakeholder that is interested in getting more involved in BID planning, please reach out through our feedback/contact form.
How do I receive future updates about the BID?
If you are interested in receiving updates about the BID, please reach out through our feedback/contact form.