What is a CID
A City Improvement District (CID) is a is a non-profit company in a defined geographic area within which property owners agree to pay for supplementary and complimentary services set to enhance the physical and social environment of the area.
In Sea Point this area covers the main business district ie roads which fall specifically between the Queen’s Circle at the Regent Road, Bantry Bay end of the business strip and Glengariff Road at the Main Road, Green Point end and everything in between.
A CID makes an agreement with the municipality according to a by-law to collect a CID levy from the ratepayers in the area over and above the normal rates charges. The money collected, unlike the rates, is a dedicated levy which can only be spent in the specific CID area and is used to give “top up” services as per the agreed Business Plan. Services provided by the CID are supplementary to those provided by the Local Authority, which still continues to provide normal services.
The advantages of establishing a CID
- The cost of providing supplementary services will be borne by all property owners
- Costs are borne in proportion to the value of the property
- The Improvement District approach is holistic
- Provides enhancement of the environment and strengthens investor confidence
- The Improvement District creates a positive identity for the area
- The Improvement District provides private sector management and accountability
- The improvement of property values
- To put forward ideas for change to council