Public Improvement District is a defined geographical area established to provide specific types of improvements or maintenance which are financed by assessments against the property owners within the area. PIDs provide a development tool that allocates costs according to the benefits received. A PID can provide a means to fund supplemental services and improvements to meet community needs that could not otherwise be constructed or provided.
Chapter 372 of the Texas Local Government Code authorizes the creation of PIDs by cities. The owners of the properties in the defined area can request the City to form a PID through a petition, which may include the establishment of an Advisory Body. With the establishment of an advisory body, the property owners within the PID have control over the types of improvements, level of maintenance, and amount of assessments to be levied against the property owners.
PID 18 was established in Aug. 2017 for a 10-year term, expiring in 2027. The goals of the proposed Tourism PID focus on increasing the economic impact and enhancing competitiveness in conventions, meetings, leisure and sports tourism, and increasing tourism-related economic activity at all times, including economic downturns and as inventory grows. The proposed Tourism PID projects include incentives and sales efforts, convention and sports marketing and promotion, site visits and familiarization tours, community arts grants, convention services, event funding application, operations, research, and administration, all of which benefit the hotels within the Tourism PID. The boundaries include non continuous areas authorized under the Act, consisting only of hotel properties with 100 or more rooms ordinarily used for sleeping, within the City of Fort Worth.
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