The City of Cedar Rapids has improved the streetscape along 3rd Street SE and 16th Avenue SW in the CV/NB Main Street, and additional programming and projects are planned for the District with the recent hiring of a new Main Street Director, including the implementation of a self-supported municipal improvement distric (SSMID). A SSMID would create the necessary funds to maintain the recent improvements to the CV/NB Main Street and allow staff to move forward with new developments.
Students began by conducting research on best practices for creation of a SSMID. Students held public meetings and worked with CV/NB Main Street staff to acquire the necessary support to pass a SSMID. From this research, a SSMID tool kit was developed, which includes materials to educate Iowa communities on the benefits of a SSMID. A sub-section of this project is 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.