Hyde Park was established long before the idea of mandatory “neighborhood associations” or “homeowner associations” became popular to fund services and programs for residents. The creation of a Community Improvement District (CID) would allow Hyde Park to enjoy many of the same benefits provided by associations in more modern developments. Enhanced security, beautification of public areas, infrastructure improvements and repairs, and trash control, in addition to the types of programs and services currently provided by the Hyde Park Neighborhood Association, could be funded by a Hyde Park CID.
Establishment of a Community Improvement District is done through a petition, which outlines the services and physical improvements the CID will be responsible for providing, along with detailed information about the cost to property owners. The petition must be signed by at least 50% of the property owners within the neighborhood’s boundaries. Additionally, the property owned by those signing the petition must represent at least 50% of the assessed value of all properties within the neighborhood’s boundaries. Once the requirements of the petition are met, the City establishes the CID by ordinance and the assessments are collected along with property taxes each year and distributed by the County directly to the CID. Neither the City nor the County keeps any of the money collected for the CID.
Meetings will be held to determine potential services and assessments. For example: All single family homes could be established at a set flat rate, multi-family buildings at a tiered rate based on number of units, and all commercial properties also assessed at a set flat rate (likely the same as single family homes). Not-for-profit organizations, including religious institutions, would be exempt, but may choose to participate. Assessments would likely be between $7 and $10 per month for a single family home or business to fund an effective CID. The assessments would apply to all properties within the neighborhood boundaries. The voluntary membership dues structure that HPNA currently has would be replaced by the CID funding.
If this all sounds familiar, it IS. Before the Great Recession, there was a similar effort, but it was put on hold until economic conditions were more favorable. Now really is a great time to insure that we have a sustainable, affordable funding mechanism for the services and improvements we think are most important to enhancing the quality of life in Hyde Park.
There are three neighborhood forums scheduled to discuss what residents would like to see funded by a CID, as well as how such an entity would be structured. Please plan to attend one or both of the forums to learn more.
Hyde Park CID Neighborhood Forums
Central Presbyterian Church, Lower Level
Saturday, October 3, 2015, 10:00 AM – 12 Noon
Saturday, October 10, 2015, 10:00 AM – 12 Noon
Tuesday, October 20, 2015, 7:00 PM - 9:00 PM
Be sure to visit the CID website at www.HydeParkCID.org and take the Resident Priorities Survey. The site also has answers to many of the most frequently asked questions about a Hyde Park CID.