The Magnificent Mile® Association and Chicago Loop Alliance Celebrate Signing of Illinois BID Legislation
July 02 2024 - 12:10PM
The Magnificent Mile® Association and Chicago Loop Alliance (CLA)
are thrilled to announce that Illinois Governor JB Pritzker
recently signed Senate Bill 3679 into law. This landmark
legislation paves the way for the creation of Business Improvement
Districts (BIDs) throughout the state.
“I am very proud to have signed SB 3679, a major win for
economic development and community engagement,” said Governor JB
Pritzker. “This bill will ensure that The Magnificent Mile – and
districts just like it that anchor communities across the state –
remain active and thriving so businesses, locals, and visitors can
share in their prosperity.”
BIDs: Empowering Businesses to Shape Their
Communities
BIDs are defined geographic areas where property owners
contribute funds through a special assessment. This investment
directly benefits the district by providing enhanced services
beyond what local government typically offers. BIDs are a powerful
tool for businesses to take a proactive role in shaping their local
environment.
BIDs can provide a variety of benefits, including:
- Enhanced security and cleaning
- Marketing and promotional campaigns
- Streetscape improvements like planters and lighting
- Organization of district events and festivals
Collaboration Leads to
Success
The passage of Senate Bill 3679 represents the culmination of a
collaborative effort spearheaded by The Magnificent Mile
Association and Chicago Loop Alliance.
"We are incredibly grateful to Governor Pritzker for supporting
BIDs in Illinois, and for State Senator Sara Feigenholtz and State
Representative Kam Buckner for their leadership in sponsoring this
critical legislation," said Kimberly Bares, President & CEO of
The Magnificent Mile Association. "We also extend our thanks to the
co-sponsors and industry partners, including the Building Owners
and Managers Association (BOMA), the Chicagoland Chamber of
Commerce, the Illinois Retail Merchant Association (IRMA), and all
those who championed the legislation throughout the
process."
A Brighter Future for
Illinois
“Business Improvement Districts will help Chicago neighborhoods
reach new heights through a more flexible and efficient model,
delivering improvements and services that benefit everyone,
fostering economic vitality and community engagement,” said Michael
Edwards, President & CEO of Chicago Loop Alliance. “This
pivotal achievement is a testament to the collaborative effort of
engaged local businesses, associations, government officials,
property owners, and residents.”
With the signing of Senate Bill 3679, Illinois businesses now
have a powerful new tool to revitalize their communities and drive
economic growth. The Magnificent Mile Association and CLA are proud
to have played a key role in securing this important victory.
About The Magnificent Mile®
AssociationThe Magnificent Mile Association is a
private, non-profit membership organization with a mission of
preserving, promoting and enhancing one of Chicago’s most unique,
multi-use neighborhoods. In addition to international marketing and
planning popular consumer programming year-round, the Association
also serves its members with district planning and beautification
and incomparable networking opportunities. Members include real
estate properties, retail shops, hotels, restaurants, entertainment
establishments, institutional and residential properties and
various professional services. For more information, please visit
TheMagnificentMile.com.
About Chicago Loop
Alliance Chicago Loop
Alliance (CLA)’s mission is to lead the community by creating and
supporting inclusive programs that attract people and investment to
the Loop. CLA is a membership organization as well as the sole
service provider for Special Service Area#1-2015, and the Chicago
Loop Alliance Foundation produces public art projects and events.
For more information, please visit LoopChicago.com.
- The Loop, Chicago
- The Magnificent Mile®, Chicago
Denise Chudy
The Magnificent Mile Association
dchudy@themagnificentmile.com
Ariella Gibson
Chicago Loop Alliance
(708) 543-4002
Areilla@ChicagoLoopAlliance.com