Englewood Special Improvement District Corporation (SID)

All about the sid

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WHAT IS A SPECIAL IMPROVEMENT DISTRICT?

"The Improvement District (whether business, or special, or downtown or some other name) is a model for management of the municipality's commercial corridor. It is authorized by state law (the Pedestrian Mall and Special Improvement District Act, N.J.S.A. 40:56-65, et seq.) to be formed by ordinance in any municipality in New Jersey.  The Improvement District provide a mechanism for the businesses and property owners of a community to organize as a single entity, to raise funds for activities that enhance or expand upon municipal services, and through a District Management Corporation, to manage themselves to become a more effective destination for commerce." https://www.nj.gov/dca/divisions/lps/idp.html


A SID is a mechanism through which downtown property owners assess themselves to provide funding for extended services aimed at the economic enhancement of the area. The need for such services has arisen as traditional U.S. cities have faced competition from shopping malls, out-of-town business/shopping centers and other new business districts. The experience of more than 1,000 existing SIDs throughout the United States has demonstrated the effectiveness of this mechanism in addressing the present economic and social challenges of urban development.


The Englewood SID is bounded on the North by Demarest Avenue, the South by Englewood Avenue, the West by Tenafly Road, and the East by Grand Avenue and Engle Street.

WHY SUPPORT A SID?

 We all pay city taxes that are used for priorities all over the city, not just in the downtown area. Legally, funds raised by the SID must be used in the same area that is being assessed—in this case SID funds must be used only for improvements and services that benefit the defined SID boundaries. SID services will not replace city services; rather they are an addition or complement to the services. 

WHO MANAGES THE SID?

To maximize accountability to ratepayers, the SID operating plan provides criteria for a SID board of directors that will consist of property and business owners representing different geographic areas, property and business types from the district. 

WHO PAYS FOR IT?

The improvement activities of the SID are financed by assessment of downtown property owners.

ISN'T THAT WHAT MY PROPERTY TAXES ARE ALREADY PAYING FOR?

No. SIDs are designed to boost and reinforce economic enhancement of downtown areas by providing a range of focused services customized to local needs in addition to standard municipal services. No municipal services are replaced. SID dollars are used to enhance existing services or create new ones. 

WHAT IS THE RETURN ON THIS INVESTMENT?

The returns on this investment are high.  The Englewood Special Improvement District Corporation concentrates on long-term development, as well as short-term goals.  The goals of the Englewood SID are for business and property owners to enjoy:


  • A safe, clean and secure downtown environment
  • Increased visitor foot traffic in the central business district
  • An enjoyable experience for all visitors to Downtown Englewood
  • Increased property values and occupancy rates in downtown buildings
  • Marketing programs coordinated with the Englewood Chamber of Commerce
  • Larger downtown employee base—more customers
  • Special events coordinated and managed with the Englewood Chamber of Commerce
  • A consistent and positive image of downtown
  • An stable organization in place to concentrate on long-term development, as well as on short-term goals.


For more information about Special Improvement Districts in New Jersey, visit this link at the NJ Department of Community Affairs.