Las Vegas Arts District property and business owners are initiating a petition to establish a Business Improvement District (BID), aiming to invest approximately $1.9 million annually in neighborhood safety, maintenance, business development, and public spaces.
The BID, proposed to cover the area between East Bonneville Avenue and West Wyoming Avenue along Las Vegas Boulevard, has been discussed for over a decade but gained momentum due to the neighborhood’s rapid growth during and after the COVID-19 pandemic. Sam Cherry, a BID board member, emphasizes the need for enhanced safety and resources due to increased traffic and businesses.
The proposal requires signatures from property owners representing over 50% of the area’s assessed property value before it can be presented to the Las Vegas City Council for public hearing and approval. While the city will not manage the BID, it will remain a key partner.
If approved, governance will include a diverse group of stakeholders, and property owners will face assessments based on property values, with commercial properties contributing $6.50 per $1,000 of assessed value, and residential properties $3.25 per $1,000. The initial funding would tackle priorities like safety, maintenance, economic development, and marketing.
Cherry believes the BID will play a crucial role in the future growth and development of the Arts District. For more details, visit lvartsdistrictbid.com.
