South Broad Street Neighborhood Association currently covers the area from 13th Street to 15th Street on the east and west, and Washington Avenue and Oregon Avenue on the north and south. That neighborhood association is now working on plans to create a business improvement district within those boundaries on Broad Street.
In order to make this BID a reality, SBSNA is hosting a BINGO fundraising event on Thursday, May 19.
You may be aware that South Philly already has a few BIDs, including the South Street Headhouse District and East Passyunk Avenue. We’ve also been covering the plans for the creation of a BID for the Italian Market. But what exactly does a business improvement district do for an area that a neighborhood association doesn’t? For one thing, a BID requires locals businesses to pay an additional tax to fund projects within the area defined for the BID. This tax can then help to fund projects ranging from regular street cleaning to events. For example, the plans for the Italian Market BID show that a property with an assessed value of $350,000 would be required to pay $700 annually. The payments differ depending on property values and the standards created for each BID.
This South Broad Street BID is in very early planning stages, so things like BID payments and other details are still being worked out. As of right now, the plan would be for business owners and owners of multi-unit residential properties to pay an annual fee to fund the BID. The money from this BINGO event will help with fundraising to hire consultants to begin the work on defining the services that would be provided through the BID. The main plan for the creation of this new district is to make South Broad Street a cleaner, better place.
The fundraising event is happening on Thursday, May 19 from 5 p.m. through 9 p.m. at 1903 S. Broad St. If you stop by to play some BINGO, you’ll have the chance to win cash prizes, gift baskets from local business, food, drink and more. Tickets are $25 for three bingo cards. Interested in attending? You can buy tickets here.