$665K Budget Approved For Montclair Business Improvement District

MONTCLAIR, NJ — The 2021 budget for the Montclair Business Improvement District (BID) was approved by the town council on Tuesday.

During their public meeting, the council gave a green light to the BID’s $665,760 budget. See more details about the spending plan here.

According to a previous statement from the BID, some highlights include:

• “An increase of the landscape budget of $15,000 for additional plantings and maintenance throughout the district.”
• “An additional $36,000 added to the marketing budget will allow for a more robust marketing strategy, additional ad purchases, and an expansion of services as directed by the current board leadership.”
• “A decrease of $6,500 in the events line. As the pandemic is still with us, events have become a lesser priority. Furthermore, as the organization grows, the BID is moving away from a Main Street model of events management into an economic development organization. To further this, the BID’s future model of events is to partner with existing, accomplished local arts organization and incorporating them further into the downtown calendar, allowing the BID to work smarter and not harder.”

“These changes are made possible by using $93,450 of capital reserve funds,” the BID stated. “By re-appropriating these rainy day funds for this crucial year, the BID will be able to increase services and not raise the assessment on our stakeholders. This will allow the BID to better serve, advocate and support our members without any additional costs to them.”

The process to approve the BID’s annual budget is the same as the regular municipal budget. It must be introduced, approved, amended and adopted with a resolution.

• See related article: Montclair Town Council Holds Budget Hearing, But Postpones Vote

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