In 2018, City Council adopted an Ordinance providing for the creation of a Business Improvement District (BID) within Palm Bay city limits. The purpose of the BID is to provide a mechanism for funding future infrastructure improvements, economic development initiatives such as business retention and attraction, and new jobs within the District. The BID’s governing board is comprised of businesses and commercial property owners within the District boundaries. The Board’s responsibilities will include the creation of a Business Improvement District Plan, identification of funding and state and federal funding grant opportunities, approving the budget and project priorities each fiscal year, and implementing the Plan. The first meeting of the BID Board is anticipated following the start of the new fiscal year, beginning October 1.
More to come soon!