Some business owners downtown believe in an old business adage that it ‘takes money to make money.’ And they believe that it could help improve downtown Lubbock.
Some of those business owners have gotten together and are now working to pass a ‘PID’ or ‘public improvement district’ which would tax property owners in the district.
Spearheading both sides of the argument are business owners Rod Hobson and David Alderson. Both men wrote letters and sent them to property owners in the area about why they should or shouldn’t sign the petition.
“On the surface it seems like a great idea but there are problems,” Hobson said.
“I think a PID will go a long way to help maintain the improvement that started to happen,” Alderson said.
The PID requires half of the downtown business owners to sign the petition and then it would be presented to city council for final approval.
Right now, the tax would be an extra $0.18 per every $100. In total, the revenue would raise close to $400,000 its first year if passed during the 2019 fiscal year. The revenue would go toward creating green spaces, sidewalks and other things to improve downtown.
“It’s just another way for the government to put their hands in your pockets,” Hobson said.
Hobson said he wants to see a more concrete plan about how the money will be used. In the current plan, it said $52,000 would be used in the first year for ‘construction of public improvements’ including landscaping in the parkway, trashcans, lighting, sidewalk repairs and more. That amount would increase each year for more improvements.
David Alderson who owns Alderson Enterprises hopes other business owners see the positives of the PID outweigh the negative. He hopes business owners realize they need to help continue Lubbock’s downtown growth.
“The prospects are good, I think we need to anticipate the need of a growing downtown,” Alderson said.
Alderson also said the Overton area enacted a PID when it was redeveloping. That PID is still in place.
