The new Business Improvement District will encompass businesses on the east side of Parker Road along Mainstreet
PARKER, COLO., Nov. 17, 2023 — Earlier this month, the business and property owners within the boundaries of Downtown Parker, voted to create a special Business Improvement District (BID) for the Downtown Parker area. The vote was part of a special TABOR election to authorize use of an assessment levy. Eligible voters are electors include any individuals who are registered to vote and who reside in, own property in, or own a business in the BID area. The Downtown Parker Business Improvement District will begin operating in January 2024.
“It’s the dawn of a new day for Downtown Parker,” says Kris Schnell, former Downtown Business Alliance chair and the initiator of the BID process. “This BID is a tool to ensure our businesses will thrive in the future, and the downtown area can continuously improve to better provide Parker residents the hometown feel they know and love.”
The Downtown Business Alliance (DBA), a volunteer membership organization created to promote Downtown Parker, began soliciting support for the formation of a formal BID in 2020 after realizing the impacts COVID lockdowns had on Parker’s homegrown businesses. With the assistance of Downtown Colorado Inc. (DCI), and Progressive Urban Management Associates (PUMA), surveys, workshops, and research were conducted to find out what local business and property owners believed to be the highest priorities to help sustain and attract business to Downtown Parker.
The Downtown Parker BID will provide enhanced services that do not replace the services already provided by the Town of Parker. An operating budget of $110,000 is anticipated for 2024 based on assessment projections. The BID does not replace any pre-existing general services provided by the Town of Parker. As future development comes to the Downtown Parker BID boundaries, the budget will adjust and grow to match the needs of the growing downtown.
A BID is a private sector funding mechanism used to improve a downtown or commercial district. The enhanced services provided by the BID are financed through a self-imposed and self-governed assessment.
The specific annual work program is yet to be determined by the BID Board of Directors, however, there are specific priorities identified by the Downtown Business Alliance that are expected to be a focus for 2024:
- Physical Improvements and Beautification: Decorative lighting, banners, public art, landscaping, street furniture, bike amenities, and common area maintenance.
- Marketing, Promotions, and Identity: Collaborative advertising and branding to attract visitors and residents to Downtown Parker.
- Economic Development: Support for existing businesses, retention, and recruitment of businesses to Downtown Parker.
- Special Events: Organization of festivals, ongoing event programming, maintenance during and after events.
With the BID, Parker’s favorite traditions like the Hometown Christmas Parade and Trunk or Treat Off Mainstreet will continue to delight residents and visitors for years to come. Other events held downtown by other local organizations such as Parker Days (Parker Chamber of Commerce), Hometown Holidays (Town of Parker), Oktoberfest (Cherry Valley Rotary Club) are not affected by, or part of the BID’s responsibiliites.
“We’re all in this together in the downtown Parker area,” says Tony Mango, Downtown Parker property and business owner. “We will either all grow together or die together. If my neighbors store fronts are boarded up, it would have devastating consequences on every one of us, and on the opposite end of the spectrum, if they’re thriving, it probably means we’re all thriving too. There have been many downtowns that have died across America, and there have been many that have thrived. This is an important step towards thriving, which helps our entire community.”
The BID is managed by a five-person board of directors appointed by Town Council, consisting of three property owners, one DBA Member, and one business tenant (non-property owner), as well as ex-officio representation from the Parker Town Council. It is possible that the BID could contract with the Downtown Business Alliance, an existing nonprofit, to provide day-to-day management and delivery of BID services. This model is consistent with other BID models throughout the state and the country, and could help reduce administrative costs, leverage resources, and eliminate duplication of services.
“This Business Improvement District is setting Parker up for future success and giving it a competitive edge over our neighboring towns and keeping Parker residents and dollars in Parker,” says Omar Castillo, President of the DBA. “With the growth around us, it’s imperative for Downtown Parker to remain relevant and continue to attract businesses, visitors, and residents to live, work, and play right here in Parker.”