WHAT IS A SPECIAL IMPROVEMENT DISTRICT?
A special improvement district is a private, not-for-profit organization established under local law. A SID is a mechanism through which commercial properties withing the district pay a special assessment to provide funding for extended services with the goal of overall economic enhancement of the area. A SID assessment is a fee that each commercial property owner pays to support the operations of the Exchange Place Alliance Special Improvement District. The sum of all the individual assessments comprises the total yearly assessment of the SID, and underwrites most, if not all, annual operating expenses.