The BID cultivates and advocates the economic growth of downtown Troy by creating an inviting, dynamic, and sustainable community that celebrates the city’s history while building towards its future. The BID is dedicated to improving the quality of life within the District to further enhance and make our community a vibrant, attractive destination for visitors, businesses, residents, property owners, the daily workforce, and students.
SIX MAIN AREAS OF FOCUS
The Downtown Troy BID has six main areas of focus including communication & community resource, business development and retention, public services and beautification, marketing and member services, social media outreach for local businesses and family friendly special events. Each area of focus has a special committee open to the public which meets monthly.
WHAT DOES TROY HAVE TO OFFER?
Downtown Troy attracts thousands of visitors to the district each year through marketing and advertising campaigns reaching new audiences every day. Targeted marketing with the Shop . Dine . Explore campaign is utilized throughout the year with billboards, print news, magazine, and digital ads, along with local press.
The Downtown Troy BID provides marketing of the district through creation, printing and distribution of annual walking guides (20,000 copies printed annually), directional a-frame signage located throughout the district, printed materials such as brochures and tear of maps, e-newsletters, email correspondence, Troy Night Out events, member listings,online presence at DowntownTroy.org, and use of social media platforms including Facebook, Instagram and Twitter.
ENGAGING NEW AUDIENCES
Special Events are a wonderful way for families, friends, and loved ones to enjoy the city in engaging ways. Discover new and exciting shops, restaurants and services by walking the streets and exploring along the way! Guests enjoy live music, vendors, fitness, food, and more through a wide range of free events & programs hosted by The Downtown Troy BID.
Troy Night Out, Free Fitness in the Park, Restaurant & Craft Beer Week, the Troy Makers Market, Troy River Fest, Rockin' on the River, Troy Pig Out, Troy Chowderfest, and the Collar City Kilt Fest are some of our most popular held throughout the year.
Each of these events bring thousands of visitors and residents to the streets of Downtown Troy. These events aim to raise the quality of life for those living and enjoying downtown Troy, while raising funds to support the initiatives of the Downtown Troy BID.
LOOKING TO REACH A NEW AUDIENCE?
Do you have an upcoming event? Running a promotion? Engaging with your staff? Hiring someone new? Tell us about it! We love to share your news on our social media platforms and in the Downtown Happenings newsletter sent bi-weekly. Get on our mailing list here!
MEET & GREET YOUR NEIGHBORS, LEARN SOMETHING NEW & UTILIZE SUPPORT!
Network with like-minded entrepreneurs, learn something new from experts and peers, engage with your community and celebrate milestones with the BID.
The Downtown Troy BID offers many programs to retain and attract businesses to the city. Events include the bi-monthly Meet & Greets and educational programming for small businesses, the annual For Rent event (May), annual Discover Troy event (May) and support for the annual City of Troy Small Business Summit.
The Downtown Troy BID also works with interested business owners to facilitate placement within the district and offer support to those looking for information on how to start a business, or resources available to small business owners.
The Business Development and Retention Special Committee focuses on tourism with monthly meetings to discuss tour boats, the marina, possible yearly conventions, business attraction events such as walking tours and historical talks, and finding ways to connect through capital district transportation and accommodations.
Last but not least, the Downtown Troy BID helps facilitate community meetings and neighborhood action as there are currently no neighborhood associations within the district. They cover issues such as safety and security, upcoming city infrastructure projects, connecting members, and more.
AESTHETICS MAKE OR BREAK A CITY!
The Downtown Troy BID focuses daily on our surroundings and have dedicated cleaning staff. We plant, water and maintain seasonal plantings, arrange district wide cleaning activities, display seasonal decorations, and pay close attention to lighting, tree cover, safety hazards and more!
Make sure to say hi to our street cleaning team. These seasonal employees clean the district of trash and debris five days per week, and water flower pots and basket which are purchased by the BID annually.
We also have a beautification committee that keeps track of issues such as graffiti, lighting, walking hazards, attractiveness and appeal of the district, manages beautification fundraisers and facilitates public art. They play a huge role in keeping our city looking GREAT!
WHAT IS A BID?
A BID is a special district created by a local municipality to focus on promoting business activity and furthering the revitalization in a downtown or commercial area. A BID is a specific geographic area in which a variety of improvement activities and services are undertaken. A BID is managed by a district management association, which is incorporated under the state not-for-profit law. Its board of directors is made up of property owners and tenants within the BID, with a majority of the board being comprised of property owners from the district. View the BID organizational plan here.
WHY FORM A BID?
The purpose of a BID is to improve business conditions in a specific area, attract and retain businesses, generate jobs and improve the quality of life for those who use the district. A BID enables stakeholders to decide which services to provide to meet the district's unique needs.
WHAT SPECIFIC SERVICES CAN A BID PROVIDE?
NY State Consolidated Law outlines services a BID can provide. These services include:
Tree and flower planting
Capital improvements such as trash receptacles, signage and planters
Business development and retention programs
The BID's services are meant to enhance and complement the services already provided by the City of Troy.
Properties comprising the Troy BID include all vacant parcels and properties in commercial use, and residential properties that are comprised of three or more dwelling units, whether or not they are owner-occupied.
Commercial Property Owners are considered Class A members. These are owners of record of assessed real commercial property in the Central Business District, or such other persons as are registered with the City of Troy to receive real property tax bills for property located in the District
Tenants of Commercial Property are considered Class B members. Tenants, who are an individual, sold proprietorship, partnership, corporation, limited liability company or limited liability partnership, and who are occupants pursuant to leases of commercial space within the Central Business District.
HOW IS THE DOWNTOWN TROY BID FUNDED?
The Downtown Troy BID (the “BID”) is partially funded through the tax assessment which the City of Troy collects on behalf of the Downtown Troy BID. This tax applies to commercial buildings located in the central business district which pay taxes. The calculation for 2017 was .691426 of the assessed value of each property. With this calculation, a property assessed at $100,000 would pay approx. $69/year. The tax assessment is leveraged through sponsorship and special events to round out the budget each year.
Special event income makes up approximately one half of the BID’s annual budget, where annual sponsorships and the tax assessment each make up approximately on quarter, with an annual budget of approximately $500,000. The projected assessment for 2018 is $130,478.66, though this amount varies depending on taxes paid.
Sponsorships are solicited and collected by the Downtown Troy BID Foundation in support of charitable endeavors of the Downtown Troy BID with fundraising of approximately $100,000 annually.