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.
Why is my support important?
SIDs are grass-roots, community-driven organizations that require legislative authorization to be established. A substantial level of support has been documented from the stakeholders in the district allowing the City of Hackensack to establish a SID. With the establishment of the SID and your support, we can improve conditions in our district and have a direct, positive effect on your commercial properties and businesses.
Why has a SID been formed?
The purpose of a SID is to improve conditions for businesses in a specific area and attract and retain businesses, generate jobs, and improve the quality of life for those who use the district. A SID enables stakeholders to decide which services to provide to meet the district’s unique needs.
What are the boundaries of the district?
The Hackensack SID extends along Main Street from Clinton Place to Atlantic Street. There are 148 commercial properties and over 375 businesses within the district.
How is the SID funded?
The SID programs and services are underwritten by a special assessment collected from property owners in the defined boundaries of the district. The assessment is levied on the property owners. The assessment is billed and collected by the City of Hackensack and then disbursed to the District Alliance, which in turn delivers the district’s services.
What is the annual assessment?
The sum of all the individual assessments that property owners pay comprise the yearly operating budget of the SID. Property owners will pay an assessment on his/her assessed real estate taxes. The combined total of all assessment collected is approximately $360,000 annually.
Who oversees the SID?
The SID is governed by a eleven member Board of Directors comprised of commercial property owners and business owners, who are elected by the members of the district, along with liaisons from the Hackensack Chamber of Commerce, the YMCA, The Johnson Public Library, and the City Council. A full-time Executive Director and Administrative Assistant runs the day-to-day operations of the organization.
What is the Main Street Business Alliance?
The Main Street Business Alliance is the formal name of the legal entity that is the SID. Its offices are located in the heart of Main Street at 238 Main Street, Suite 110. Office hours are Monday toFriday, 2pm to 5 pm though personnel are available during normal business hours as needed. Please call Patrice Foresman at, 201-498-1690 for any important matters.
For more information on Hackensack’s Main Street Business Alliance, please call 201-498-1690.