While Ballard may not be getting as big a chunk of Mayor Mike McGinn’s $1.1 million investment in neighborhoods as some other areas (the International District is getting $185,000 to itself), it will get a share of $142,500 to support local businesses.
With the funding announced Feb. 28 as part of the Seattle Jobs Plan, Ballard will join six existing neighborhood Business Improvement Areas.
Businesses in the Business Improvement Area are charged an assessment – based on square footage, assessed l
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While Ballard may not be getting as big a chunk of Mayor Mike McGinn’s $1.1 million investment in neighborhoods as some other areas (the International District is getting $185,000 to itself), it will get a share of $142,500 to support local businesses.
With the funding announced Feb. 28 as part of the Seattle Jobs Plan, Ballard will join six existing neighborhood Business Improvement Areas.
Businesses in the Business Improvement Area are charged an assessment – based on square footage, assessed land value or revenue – that is pooled and can be used for marketing, cleanup, security, special events and more.
McGinn made the announcement of the $1.1 million investment in 19 neighborhoods at Big Time Brewery & Alehouse in the University District.
He said neighborhood business districts are important to the economic success of the city.
“People love being in a place where businesses are unique and special,” he said.
McGinn said investing in neighborhood business districts can help create jobs – a priority for the city, which lost 35,000 jobs during the recession and has only gained 18,000 of those back.
“That’s good news. But 18,000 isn’t 35,000,” McGinn said. “In business districts around the city that loss of jobs had an effect. Businesses closed. Storefronts stayed empty.”
In addition to Ballard, Business Improvement Areas will also be formed in Belltown, Capitol Hill, Madison Valley, Pioneer Square, SODO and West Seattle.