The DCBID provides safety, maintenance, marketing, and business retention and recruitment programs for more than 480 property owners and residents, representing over 1,500 properties within a 65-block area in Downtown Los Angeles. The DCBID's mission is to revitalize Downtown by promoting the area as a clean, safe, and vibrant place to live, work, visit, and invest.
In 1994, legislation was enacted in California enabling property owners in cities such as Los Angeles to create BIDs. Once formed, the law requires that a BID be reaffirmed through a petition process every five years. Support for the district is demonstrated by gathering signatures from the property owners representing a minimum of 51 percent of the paid assessments.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
