Sitting at the helm of one of Washington, D.C.’s oldest neighborhoods, the Georgetown Business Improvement District (GBID) enters its twenty-fifth year building community and commercial vitality. With the ongoing challenge of the area’s physical attraction and economic vitality, the GBID’s Board just adopted a new 5-year strategic plan to tackle these issues. One significant aspect of this plan is a proposal to raise the tax rate by 5 percent, and therefore, the voting window for stakeholders has been extended until 5 p.m. on Friday, May 3, 2019.
This extension allows property owners and merchants that make up the backbone of the GBID more time to deliberate and vote on the proposed tax adjustment. The need to reassess the funding source has arisen after almost 15 years since a tax rate adjustment. These changes represent a reallocation of resources to support the district’s ongoing development and improvement amid increasing urban diversity. The revenue generated by the GBID’s proposed updates would allow for improvements and new initiatives that benefit the community and will keep the district economically viable.
Georgetown Business Improvement District Overview
The Georgetown Business Improvement District (GBID) is a pivotal entity in the Washington, D.C. area, having reached its quarter-century mark, and is known for its dedicated effort to enhance the region’s appeal. It operates under a private, non-profit charter, with a focus on advancing the region’s commercial accessibility and attractiveness.
25 Years of GBID History
The GBID was established in 1999 and, since then, has been instrumental in shaping the Georgetown area’s business landscape. Through sustained efforts over 25 years, the GBID has implemented a series of plans and initiatives aimed at developing the economic fabric of Georgetown.
GBID’s Role in the Community
The GBID functions under a mandate to serve the Georgetown community by improving business conditions and the general attractiveness of the area. Key responsibilities include:
- Advocacy: Representing the interests of Georgetown businesses in governmental and public forums.
- Maintenance: Ensuring that the physical space within the district is clean, safe, and welcoming.
- Marketing: Promoting Georgetown as a premier destination for shopping, dining, and tourism.
- Strengthening Services: Providing support services that enhance the experience of visitors and the business operations of members.
By utilizing a blend of strategic planning and community engagement, the GBID has been instrumental in preserving the historic and economic importance of Georgetown.
The Georgetown Business Improvement District Board announced an extension in its voting process over its new board and a plan, including a tax adjustment. Under the extension, stakeholders have until 5 p.m., Friday, May 3, to cast their votes.
New Board Approval Process
The voting deadline for the GBID Board’s new members’ confirmation has been extended to ensure adequate participation from the community. Stakeholders received additional time to understand the proposed changes and cast their votes, reflecting a commitment to a democratic and thorough review process.
Implications of the 5-Year Plan
A 5-year plan by the Georgetown Business Improvement District is set to reshape the region. That includes strategic initiatives to improve the district’s commercial viability and attractiveness, a long-term focus on investments in development and for the right businesses to serve that area.
Specifically, tax rate increase details include a 5-percent increase that would help pay for the extra services and projects that would be undertaken by the GBID. The GBID plan seeks to improve the overall appeal and functionality of the district through investment in public safety, maintenance and marketing.
Click on the Tenant Ballot PDF here for an individual vote. Please email your ballot to Louisa Nanan — LNanan@GeorgetownDC.com
