The City Council has established the Highland Park Business Improvement District (BID) for a ten-year term, beginning January 1, 2025, and ending December 31, 2034. This BID will levy assessments on properties within the district to fund improvements, operations, and services such as sidewalk maintenance, beautification efforts, and marketing initiatives aimed at enhancing the area's appeal and economic vitality. The decision follows a majority approval from property owners representing over 50% of the total assessment value. The BID will not issue bonds, and all funds generated will be reinvested into the district to benefit property owners directly.
The Highland Park BID aims to revitalize the North Figueroa Street corridor, boosting local business growth, increasing property values, and enhancing the overall quality of life for residents and stakeholders. By providing dedicated funding for maintenance, beautification, and promotional activities, the BID will help create a more attractive and vibrant commercial area, drawing more visitors and potential investors.