SSMID Planning, Creation, and Implementation
Students in the School of Urban and Regional Planning conducted research on best practices for creation of a SSMID for Cedar Rapids, IA. Students held public meetings and worked with CV/NB Main Street staff to acquire the necessary support to pass a SSMID.
The City of Cedar Rapids had improved the streetscape along 3rd Street SE and 16th Avenue SW in the CV/NB Main Street, and additional programming and projects were planned for the District with the then recent hiring of a new Main Street Director, including the implementation of a self-supported municipal improvement district (SSMID). A SSMID created the necessary funds to maintain the improvements to the CV/NB Main Street and allowed staff to move forward with new developments.
From the students' research, a SSMID tool kit was developed, which included materials to educate Iowa communities on the benefits of a SSMID. A sub-section of this project was to identify additional financing mechanisms for the CV/NB Main Street District. Students developed a sustainable financing plan for the area to diversify funding sources, grow the budget, and allow for increased staff, community services, marketing and project financing.