Welcome Little Tokyo BID!Little Tokyo Plans A Business Improvement District
Just imagine the streets of Little Tokyo cleaner, safer, better lit at night. Just imagine clearly visible signs and directories aiding our friends to find their way around the area. Just imagine our sidewalks bustling with activity as both locals and tourists enjoy the fun, food, and culture that the community has to offer. Just imagine people enjoying this community both days and evenings, both weekdays and weekends, as they are drawn to the cleaner, safer image of Little Tokyo.
Wouldn't that be wonderful? That's what a Business Improvement District (BID) can do for our community.
What exactly is a BID? It is a self-assessment that either the property owners or business owners of the Little Tokyo BID area would tax onto themselves, to raise funds for improvements that the city can not or will not perform.
There are currently 10 BIDs in the LA County area, with at least 30 more BIDs in various stages of formation. The Little Tokyo BID is happy to be one of the many BIDs in the planning process. Ever heard of the Third Street Promenade in Santa Monica or Old Town Pasadena in Pasadena? They are BIDs that are now very popular areas to both locals and tourists alike, with businesses booming as more and more people are drawn to their cleaner, safer, new look, and the various activities that the areas have to offer. Little Tokyo can be that way too!
What kind of activities are BIDs involved with? Since every BID is tailored toward the different business needs of each area, they vary from place to place. But BIDs generally do promotional events (food festivals, arts & crafts and street fairs), marketing and advertising (business directories), annual events (tree lighting during Christmas), physical improvements (planters, benches, banners), and security and maintenance.
Just imagine Little Tokyo with most of these things! Wouldn't it be greatif someone in Little Tokyo would take care of them? The Little Tokyo Business Association (LTBA) and the Little Tokyo Public Safety Association (LTPSA) do a few of these things. The BID would not replace nor take over such existing organizations. Instead, the other organizations' activities would be supplemented by the Little Tokyo BID, thereby eliminating the need of a large staff for the BID. By depending on such existing organizations, the Little Tokyo BID can strengthen the other organizations' efforts, as well as concentrate on activities that existing organizations are not involved in.
The BID will also address the "free-rider" problem in the area. Many businesses are contributing their hard earned money to organizations such as the LTBA and the LTPSA, who in turn, work to benefit the Little Tokyo area in general. What this means, however, is that the businesses which don't contribute, are able to enjoy the positive works of these organizations -- for free! The BID would bring fairness to this problem, by ensuring that everyone contributes equally to a safer, cleaner, Little Tokyo.
Who would contribute to the BID? There are two types of BIDs. One is where the business owners are assessed. This kind of BID is renewed every year. In the second type of BID, property owners are assessed, and such BIDs can have a life span of up to 5 years before they need to be renewed. The BID committee is currently researching both types of BIDs to determine which kind would greater benefit Little Tokyo.
How would this Little Tokyo BID be carried out? The City of LA would collect the assessment on an annual basis. But these funds would be returned to the Little Tokyo BID to implement the programs and activities established by the BID. Such programs and events can be many of the types previously mentioned. All businesses or property owners, depending on the type of BID created, would be members of the BID. Every member would be eligible to vote for and serve on the Board of Directors, participate in committee activities, and help determine how district funds are to be spent. Once established, the Little Tokyo BID boundaries, assessments, improvements, and activities can be changed every year.
Just imagine! The businesses in this community bustling with activity, as locals and tourists are drawn to Little Tokyo with a cleaner, safer, newer image.
[ Little Tokyo News * Volume 1 Issue 1 ]