RiNo creates Business Improvement District

The River North (RiNo) Art District has approved both a Business Improvement District (BID) and a General Improvement District (GID) to generate more than $1 million a year to invest in infrastructure, advocacy, affordability initiatives, placemaking, marketing and programming. 

The goal of the districts is to ensure than the investment pouring into the neighborhood does not significantly alter its urban, industrial character and that there are resources to ensure artists, small businesses and creatives can stay put and that the neighborhood remains diverse, inclusive and affordable. 

Funding from the districts will help preserve RiNo's character and support artists and creatives through grants, artist housing and other initiatives that could be a model for other art districts. District funds also will be invested in infrastructure improvements to the industrial neighborhood, including a collaborative partnership with the city to enhance Brighton Boulevard and develope a new park and community facilities.

The districts also will fund improved lighting, wayfinding signage and other physical improvements. Programming, marketing, activation and continuing to grow the dynamic nature of RiNo are all part of the plan.

The RiNo BID encompasses about 450 acres generally bounded by Interstate 70 to the north, the alley between Larimer and Lawrence streets to the east, Broadway to the south and the rail tracks to the west. Commercial property owners within those boundaries will pay four mills on the assessed value of their property, which will generate about $600,000 in 2016. 

The RiNo GID includes about 300 acres and covers only the western portion of the RiNo district. Commercial and residential property owners in the GID will pay four mills on the assessed value of their properties, which will generate about $300,000 in 2016. 

In addition, property owners fronting Brighton Boulevard will pay a special assessment of about $200 per linear foot to fund infrastructure enhancements on the street, raising $3 million over 20 years.

Contact Confluence Denver Development News Editor Margaret Jackson with tips and leads for future stories at margaret@confluence-denver.com.