SW 9th SSMID Proposal

SW 9th SSMID Proposal

Over the last few years the SW 9th Merchants Association and the Friends of SW 9th have been working with the City of Des Moines to revitalize SW 9th Street. While much has been accomplished, new activity and investment is only just beginning to occur. Full revitalization of SW 9th will take many years and will require sustained work and the dedication of many people.

To provide support for these continuing efforts, the SW 9th Merchants Association and the Friends of SW 9th are proposing the establishment of a SSMID for the area:

• SSMID: Self Supported Municipal Improvement District

• The SSMID would be established for the Fiscal Year, beginning July 1, 2016;

• SSMID Boundaries will generally include commercially zoned properties.

        Proposed SSMID Boundary extends from Davis Street to Army Post Road

• A SSMID levy rate of $2.25 per $1,000 of assessed value is proposed. This will result in annual SSMID revenues of $90,000, which will be supplemented through sponsorship, grants, and fundraising;

• SSMID funds would be used to promote and improve the area;

• SSMID projects would range from marketing and business development, to undertaking façade improvement and beautification projects;

• Management of the SSMID will be overseen by a local Board of Directors with representation from SW 9th Street commercial property owners, local merchants, and representatives from the surrounding neighborhoods.