Westchester community leaders are looking at ways to establish a business improvement district (BID) for Loyola Village to help revitalize the corridor along Lincoln Boulevard.
Los Angeles City Councilman Bill Rosendahl recently submitted a proposal to the City Council requesting funds to hire a consultant to recommend whether a BID should be established in Loyola Village, an area between Loyola Marymount University and the Otis College of Art and Design.
The business districts are geographically defined zones in which commercial property owners vote to impose a self-tax to supplement security, homeless services, streetscape maintenance, marketing and promotional support for the area surrounding their businesses. A simple majority of affected property owners must vote to implement the BID for it to take effect following the City Council’s final approval.
Rosendahl’s motion requests the allocation of up to $40,000 for professional consultants to collect data, conduct surveys, organize meetings with local business owners and assess district boundaries for the potential Loyola Village BID.
“Hopefully, by this time next year, stakeholders at Loyola Village will be able to choose whether they would like to establish a BID,” said Rosendahl. “This is a wonderful opportunity to rejuvenate the local Westchester economy and has proven to be a successful tool in enhancing a business district’s environment.”
If approved, Loyola Village would be the second BID in Westchester. A district was established in 2007 in downtown Westchester along Sepulveda Boulevard, where business leaders said they have had a greater authority and impact in improving their street environment. Another 11th District BID has existed at Brentwood Village since 2003.
Heather Lemmon, a real estate consultant whose office is off of Lincoln Boulevard, said she took notice of the downtown Westchester improvements and asked Rosendahl if he would consider leading the charge to establish a BID in Loyola Village.
“I see this as another effort in the Westchester community empowering its future prosperity and beautification of the University Village,” said Lemmon. “My biggest concerns are security, beautification and parking for the Lincoln corridor.”
The decision to hire a BID consultant for Loyola Village must be heard by the City Council’s Jobs, Business Growth and Tax Reform Committee before being voted upon by the City Council.