Plans are moving forward to create a self-supported municipal improvement district (SSMID) in downtown Bettendorf. Fifty-six percent of all commercial, industrial and multi-residential property owners representing 70 percent of the assessed value within the proposed district have petitioned the City of Bettendorf to create a SSMID. The SSMID would start July 1, 2019 and continue for four years, at a rate not to exceed $2.75 per thousand dollars of taxable valuation.
“A group of property owners have been meeting for more than a year to discuss how best to revitalize Downtown Bettendorf, create a new sense of place and help businesses increase revenues,” says Simon Bowe of Bowe Machine. “We’ve worked on a plan on what we envision for downtown and concluded that a SSMID would be the best way to fund needed improvements to grow our downtown.”
SSMID funds would be used for:
• Enhanced maintenance, cleaning and upkeep of public spaces
• Graffiti removal on public property and private buildings
• Development, marketing, promotion and management of activities and events
• Capital, physical or other improvements designed to enhance the image, appearance, and functionality
• Research and planning services
“I’m excited about the possibilities for Downtown Bettendorf,” says Ryan Jantzi, Manager of Operations for Downtown Bettendorf Organization, a part of the Quad Cities Chamber. “After hitting the streets and talking with business and property owners, there is a lot of energy focused on Downtown Bettendorf, particularly with the new I-74 Bridge and surrounding improvements.”
The City of Bettendorf contracted with the Quad Cities Chamber, which has experience managing the SSMID funds in Davenport through the Downtown Davenport Partnership, to help determine if there was enough interest from downtown property owners to create a SSMID.