Local CBD to host meeting on May 25th
Will explain SSMID benefits
Marshalltown’s Central Business District organization is sponsoring a downtown building owner meeting May 25, from 6 p.m. to 7:45 p.m. at the public library.
The purpose: Explain what a Self Supporting Municipal Improvement District is, and how it can effectively be used to improve downtown while supplying CBD a stable funding source to fulfill its mission.
“We would love to have owners come and be a part of this discussion,” said CBD Executive Director Jenny Etter via email. “We hope to furnish people with information, explain how it (SSMID) can benefit them, as well as answer questions and address concerns about SSMID.”
Earlier this year CBD launched a SSMID informational and promotional campaign.
Since then, staff and volunteers have personally visited with a number of business owners in the central business district to explain the special levy, why it is necessary, while working to garner support critical for passage.
A SSMID link can be found on the CBD website, marshalltownmainstreet.org. It explains SSMID, and why implementation is critical to improve downtown.
How it works
SSMID is a self-imposed levy upon commercial and industrial property taxable value within a district. That is, a downtown building owner would agree to have the SSMID levy added on to their property tax.
The funds collected from the levy are restricted to improving the business and cultural environment of a specific district.
SSMID’s are divided into five different zones.
Rates are proposed at varying dollar amounts per thousand of taxable value.
It ranges from a Main Street property rate of $3.60 per thousand to residential rate of $1 per thousand to industrial/banks $2.40 per thousand.
One can find it in Chapter 386 of the Iowa Code.
Why needed?
Etter told the city council earlier this year current funding sources from the city, membership dues and fundraising are not enough to meet its goals for a more robust downtown.
The organization said SSMID is needed to assist it recruit businesses and continue efforts of downtown beautification among other initiatives.
Should it be approved, CBD would utilize funds to:
• Develop financial support for a marketing strategy for downtown retail businesses.
• Development of online media outlets to better focus on downtown events and businesses.
• Enhanced sidewalk snow removal and trash collection along Main Street.
• Installation of heritage themed way finding signs throughout downtown for parking, shops and points of interest.
Continued support for popular events: Holiday Stroll, Tiny Tim Tree Festival, Adopt A Veteran, Treasure Tour, and more.
“Over the past 15 years, we have worked to improve the downtown’s look and feel
through facade repairs and historic restoration,” according to the website. We can do
more, but we can’t do it without a stable funding source. The SSMID will do that. Without the SSMID, the CBD cannot continue to financially keep up the current beautification
efforts planters, banners, alley way , or to keep up downtown promotions such as the
Holiday Stroll. If we do not create a safe, beautiful, inviting downtown, we will not see our downtown rise to its greater potential of a vibrant, energized community.”
SSMID and city council
The more building owners supporting SSMID, specifically, those who are willing to have the special levy placed on their property, the better to show the Marshalltown City Council, which has the authority to authorize a SSMID district or decline. Councilor-at-Large Leon Lamer told Etter at a council meeting earlier this year the council would need to see strong support from downtown property owners. Lamer said a previous effort to implement SSMID by CBD was declined by the council because it was not convinced enough property owners were willing to add an additional tax levy to their property.
Support or oppose?
Barb Hagstrand of Marshalltown, owner of the Kibbey Building, 125-131 E. Main St., and other downtown properties, supports SSMID passage.
“I fully support the downtown tax,” she said. “I have seen how SSMID has improved downtowns throughout the state.”
She also cited Etter’s work over the years.
“And I credit Jenny and the efforts of CBD for the progress and development which has taken place downtown.”
Vic Hellberg, owner of Helllberg’s Jewelers, said he supports SSMID. He and spouse Gayle are long-tenured downtown building owners and active CBD volunteers.
However, The Times-Republican spoke to two business owners who are opposed to SSMID.
They requested remarks be “off the record.”
About CBD
Created in 2002 as a Main Street community, the CBD has strived to invigorate and promote the downtown, It is a small organization driven by volunteer efforts of community leaders, according to organization promotional material.
Since 2002, CBD has:
• Supported and endorsed more than $29 million in downtown building renovations and $17 million in property sales (most recently Tallcorn Tower, Iowa Wholesale and Kibbey Buildings).
• Created and ran 30 downtown events such as Adopt-A-Veteran, Holiday Stroll, and partnering with the Linn Creek Art Festival.
• Maintained beautification efforts and preservation initiatives such as the flower baskets and berms.
• Recruited and logged over 50,000 volunteer hours to run current programs
• Offered grant writing services to member business and building owners.
• Provided business training available to all members
For more information on the CBD or SSMID, call 641-844-2001, or visit marshalltownmainstreet.org.
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Contact Mike Donahey at 641-753-6611 or mdonahey@timesrepublican.com