The GID assesses commercial and residential property in primarily the western half of the RiNo boundaries to generate funding for infrastructure improvements to the public realm, as well as maintenance. In 2016, the GID will secure a loan of $3 million to provide enhancements to the Brighton Boulevard project. Owners with frontage on Brighton Blvd. will be assessed to repay the loan. In addition, the district will generate approximately $300,000 to support other district infrastructure initiatives.
What is a General Improvement District (GID)?
A GID is a district financing tool used to help stakeholders collectively plan, fund, and implement public infrastructure improvements to their neighborhood, and pay for maintenance.
- Are established by local stakeholders through a petition and vote. Registered voters (both commercial and residential) within the GID boundary sign the petition and then vote in a TABOR election.
- Raise money through an assessment on residential and commercial property.
- Have the power to acquire, install, construct, and maintain public improvements that collectively benefit the area.
RiNo Art District Annual Report 2016/17