What is a SID?

A Special Improvement District (SID) is a public/private partnership in which property and business owners elect to make a collective contribution to the maintenance, development, and promotion of their commercial district.

The idea for the SID is modeled on the shared maintenance program of many suburban shopping centers. Tenants of a mall pay a common area maintenance fee to underwrite services that enhance the appearance of the common areas and provide cooperative advertising for the mall and its stores.

A SID works in much the same way. However, because a SID has multiple property owners (not one as in a mall) they agree to the extra fee (assessment). Thus, stakeholders in a commercial district can align themselves in much the same way to improve their area as does a mall operation.

Several advantages from this arrangement are: 

  • A cleaner, safer and more attractive business district
  • A steady and reliable funding source for supplemental services & programs
  • The ability to respond quickly to changing needs of the business community
  • Potential to increase property values and decrease commercial vacancy rates
  • A district that is better able to compete with nearby retail and business centers

Show All Answers

1. What is a SID?
2. What does a SID do?
3. How are SID programs and services paid for?
4. SID or Merchants' Association?
5. Will municipal services be reduced if the SID is providing similar services?
6. Who oversees the SID?
7. How is a SID formed?
8. What other municipalities in New Jersey have a SID which includes the entire municipality?
9. What other municipalities in New Jersey have a SID with multiple sub areas in which the assessment rates differ from one district to another?
10. The report of the feasibility study suggests sub areas and variable tax rates. Are those sub area boundaries and tax rates fixed?
11. If those sub areas and assessment rates are not fixed what individual or entity will fix them?
12. Can the feasibility study map designating the proposed sub areas be enlarged so that it is clear ....
13. Are all of the decisions regarding sub areas and assessment rates to be made by the District Management Corporation (DMC)?
14. Will all of those individuals and entities subject to the SID assessment have any role in electing members of the DMC?
15. Where can the organizing documents of the Princeton Business Partners Inc, created by the ordinance to be found?
16. Do the members of the Princeton Business Partners Inc. have to live in Princeton? Pay Taxes in Princeton? Own property in Princeton?
17. Who will pay the SID assessment, the landlord or the tenant? Does it depend on whether the lease is a gross or net lease?
18. How many members, trustees, board members of the Princeton Business Partners, Inc. will there be?
19. How will the members, trustees, board members be elected, selected, appointed?
20. In making sure that the members, trustees, board members of the Princeton Business Partners Inc. are diverse, equitable and inclusive....
21. Will there be term limits for the Board?
22. In selecting assessment rates for the sub areas what criteria did the Steering Committee use?
23. To the layman it would seem that the greatest beneficiary of SID expenditures would be those businesses in the center of Princeton, Palmer Square...
24. Where can one find attachment A to the ordinance, the listing of every property in Princeton that will be subject to the SID assessment.
25. Will the members, trustees, board members, and employees of the Princeton Business Partners, Inc. be subject to a code of ethics ....