In September of 2014, CMPDD staff completed an assessment study for the stakeholders involved in the proposed formation of the County Line Road Business Improvement District (the “BID”). The purpose of the assessment study was to establish the potential assessment revenue to assist those involved in managing and establishing a budget for the proposed BID. The BID area which crosses county lines covers approximately .83 square miles and is made up of businesses along the Ridgeland and Jackson stretch of County Line Road from Highway 51 on the west end to just past Pear Orchard Road on the east end of County Line Road. The BID boundary excludes residential property which is forbidden by state statute from being included in the BID area.
To conduct the study, CMPDD planners and GIS staff gathered property information form the Hinds and Madison County Tax Assessors office to establish a possible basis for assessing the BID members if the BID gets formed. The GIS team mapped the entire area by land parcel and made it possible to analyze property ownership, building footprints, and other characteristics of the area. The assessment revenue estimates produced by the study will be critical in determining the feasibility of moving forward with forming the BID.
The proposed BID has a total aggregate assessable area of 23,263,577 sq. ft. If the area was assessed at a rate of $0.05 per sq. ft., the BID can expect to generate annual revenue of approximately $1,163,179 to cover expenses and fund its improvement initiatives. If the area were assessed at a rate of $0.15 per sq. ft., the BID can expect to generate annual revenue of approximately $3,489,537 to cover expenses and fund its improvement initiatives. If the BID comes to fruition, the actual assessment method and amount will be determined by its board of directors. For more information contact Lesley Callender at the District.
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