Downtown Toms River ~ Frequently Asked Questions |
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| What is a Business
Improvement District? |
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A BID is a special designated area where property owners and businesses
pay a fee (a special assessment) to provide extra services that can improve
the local business climate. Downtown Toms River's services do not replace the Township
services, they only add to them. By law, the Township cannot reduce existing
services in BID areas. Property and business owners within Downtown Toms River decide
which services and programs to provide. |
| What services does Downtown Toms River offer? |
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Like most BID'S, Downtown Toms River will provide supplemental services
in these areas:
Area Maintenance and Beautification,
which includes sidewalk and street sweeping, emptying litter baskets,
cleaning tree pits, removing flyers and posters, cleaning graffiti from
street furniture. Downtown Toms River will focus on a Master Plan that will revitalize
the economic structure of the Downtown area.
Security programs; Police sub-station
in the Downtown Toms River office, security lighting and cameras.
Marketing and Promotion to bring
more customers to the area through advertising, television commercial,
shopping guides and maps, sponsorship of special promotions and events.
Install new signage, banners, informational kiosk.
Holiday Decorations will cover the
business district throughout the holiday season and may be added at
other times of the year.
More information on services
and programs of Downtown Toms River.
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| Who controls Downtown Toms River? |
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Commercial property owners
and businesses. After a BID is approved by the Township and
signed into law, it is formally established as a tax-exempt not-for-profit
corporation. A BID is managed by a District Management Association (DMA),
a not-for-profit corporation, whom you elect and which oversees the administration
of Downtown Toms River. Our DMA is the Toms River Business Development Corporation.
The members include property owners, commercial tenants and residential
tenants. The DMA is fully accountable to Downtown Toms River members: it issues annual
reports, provides annual audited financial statements, and holds annual
meetings to adopt the budget and other DMA proposals. |
| Who elects Downtown Toms River leadership? |
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Property owners and commercial
tenants within Downtown Toms River boundaries elect their representatives to serve
on the DMA's Board of Directors.
By law, the majority of the DMA members must be commercial property owners,
with a least one commercial and one residential tenant also elected. Downtown Toms River Board of Directors meets Quarterly and the Executive Committee
meets monthly to handle da
August 25, 2011
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| Who pays for BID services? |
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All commercial property owners within the District must contribute their
fair share to finance Downtown Toms River programs and services through a BID assessment.
This assessment is mandatory. Like a real estate tax, all or some of the
cost of the assessment may be passed along to commercial tenants, subject
to the terms of the lease. |
| How are assessments determined? |
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Every BID determines its own assessments, according to an assessment formula
that it selects for their District. The formula for assessing district
properties is based on a factor of real property, such as front frontage,
square footage or assessed value, or a combination of these factors.
In developing an assessment formula, the basic idea
is to match as closely as possible the level of assessment with the level
of benefit received. So, generally, the larger the property, the more
service it receives, the higher its assessment. |
| How are assessments collected? |
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The Township collects Downtown Toms River assessments on behalf of BIDs through a
separate bill sent with the real estate tax bills. The Township takes
no fee for collecting the assessments; every dollar collected is returned
to Downtown Toms River to pay for BID services. |
| Where is the money allocated? |
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The money goes directly to fund Downtown Toms River programs
and services, which are selected by BID
members and benefit all. The first year approved budget for Downtown Toms River was: $195,109.00 from property assessments, $50,000.00 from Toms River
Township and $3,000.00 from the Toms River Parking Authority, for a total
budget of $248,109.00. This money has been allocated to the following:
• Street Cleaning and Streetscapes
• Marketing, Promotions and Special Events
• Security
• Street Holiday Decorations
• Revitalization Master Plan
• Contingency Fund
• Administration
Downtown Toms River has an
office and a Executive Director. The Director is responsible for the daily
activities of the BID.
For more information please contact the Downtown Toms River office: 732-341-8738 |
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