BOMA/Chicago Actively Involved with BID Legislation
BOMA/Chicago has been a member of a City of Chicago steering committee to draft legislation that would enable the creation of business improvement districts (BID) across the state. Illinois is one of only five states in the country that do not have such legislation.
Our Association's task force emphasized two key principles throughout the process:
- that any BID covering our members be created and governed by those paying into it, with maximum flexibility in their hands, and
- that municipal involvement in the operations of a BID be limited only to what was necessary as a matter of constitutional law.
We have reached a compromise with the City that we believe achieves those principles better than in any other state. We will continue to be actively involved as the legislative process moves to the State's General Assembly, to protect the terms we have reached with the City as other municipalities weigh in.
If you would like to learn more about this issue in the interim, please contact Farzin Parang at email@example.com.