The Madison City Commission has accepted a petition requesting the creation of a Business Improvement District in the city. During their meeting Monday, commissioners accepted the petition from the three hotels in Madison and set a hearing date of December 21st.
Greater Madison Area Chamber of Commerce Executive Director Eric Hortness told commissioners what the new Business Improvement District (or BID) will entail.
Hortness said that the proposed tax is estimated to generate between 50-and-100-thousand dollars annually. He said that a BID Board is then created to come up with recommendations for the commission on how the money should be spent.
Commissioners Monday also approved a resolution providing the notice of intent to create a Business Improvement District. The resolution sets the boundaries of the district, and sets the amount of the occupational tax and indicates for what purposes the funds can be used.