Southtown

Corridor Improvement Districts: Assist neighborhood business districts in developting Corridor Improvement Districts (CIDs), as a community and economic stimulus. CIDs are Tax Increment Financing (TIF) tool that helps fund qualifying public infrastructure improvements, marketing initiatives, and economic growth projects (streets, sidewalks, lighting, public parks, advertising campaigns, etc).    

Neighborhood Ventures is currently working with community stakeholders to implement this tool in both Uptown and in the Madison Square Business District, located in Southtown. If your business district would like to explore the benefits of a CID or to learn how to implement this tool in your district, please contact Mark Lewis at (616) 550-3538 or lewism@neighborhoodventures.org

FAQ's

What is a CID?

• An area designated by the city to revitalize commercial and mixed-use business corridors that are located outside traditional downtowns. One of the main ways that a CID helps fund qualifying public infrastructure improvements, marketing initiatives and economic growth projects is through the use of Tax Increment Financing (TIF).
• Corridor Improvement Districts (CIDs) are established and operated in Michigan under Public Act 280 of 2005 and in Grand Rapids under City Policy 900-49

What are the benefits of creating a Corridor Improvement District?

• Provides a reliable and sustainable funding source to make district improvements by redistributing a portion of the property taxes that you are already paying.
• Improves the district to attract more visitors and residents from surrounding neighborhoods, generating potential for increase in sales and customers for the district.
• An improved district attracts new businesses to locate in the area, having a positive effect on districts which are struggling with high vacancy rates.
• Promotes economic growth, encourages investment and corrects and prevents deterioration in long-established commercial corridors.
• Increases the amount of both public and private investment in a community through new development projects and programs that improve the local economy and the quality of life for residents.
• Can provide for business needs by increasing the availability of realistic approaches to business development and enhancements such as façade improvement programs, parking and streetscape improvements and marketing and branding campaigns.
• Creates a public-private partnership with the City that gives enhanced local input over where ad-valorem tax money is spent to improve the district.
• Provides economic resources for marketing, public/private infrastructure improvements, policy advocacy, parking and transportation improvements, streetscape improvements, façade improvement programs, business recruitment, and lighting and security.  However, funds cannot be used for general maintenance of the district.

Volunteer architects work one-on-one with neighborhood business owners to conceptualize improvements for their properties.

Neighborhood Ventures has two rounds of Facade funding each year. All applicants must be pre-approved for a Face Foward Facade grant. To determine if you are eligible, please contact Rebekka Kwast at kwastr@neigbhorhoodventures.org or (616) 301-3929.

ReStore Grand Rapids is a business recruitment program to track and fill vacancies in neighborhood commercial areas with an appropriate business-mix. Tactics are based on market research and include recruiting entrepreneurs to create new ventures from within the region and beyond.

Helping districts create and implement brands, marketing strategies and cooperative advertsiing tools. Assist local areas with image enhancement by developing and implementing creative, comprehensive branding, marketing, special events campaigns on limited budgets to increase awareness of and improve the image of our neighborhood business districts.

Neighborhood Ventures spearheads Public Infrastructure Improvements in neighborhood business areas (such as brick streets, ornamental street lighting, increased/improved street trees, built in green spaces, gateway projects,etc) by working with  community partners, including but not limited to, the City of Grand Rapids and the Michigan Department of Transportation.