Hollywood Business Improvement District To Grow

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The Los Angeles City Council has endorsed the Hollywood property owners’ vote to renew and expand the Hollywood Entertainment District for a 10-year period through the end of 2018.

The ballot tabulation, which was conducted by the Office of the City Clerk, resulted in an estimated 91 percent affirmative vote by property owners for renewal of the District, making the HED one of the more heavily supported business improvement districts in the Los Angeles area, officials said.

Property assessments will fund a $3.4 million-a-year budget for the district. The district pays for security, maintenance and marketing services that have helped drive Hollywood’s revitalization efforts.

“The strong vote of confidence for the continuance of the Hollywood Entertainment District demonstrates great faith in the future of Hollywood,” said Christopher Bonbright, president of the Hollywood Property Owners Alliance, the non-profit group that manages the district. “As property owners, we have invested much to get this far and (the) news keeps the momentum strong.”

The City Council on Wednesday approved the plan for the new BID, with the boundaries expanded to increase the number of parcels from 441 to 529 and property owners from 200 to 225.

In the expanded district, certain properties also will be subject to an alley assessment totaling $130,000 a year, which will allow the area’s pedestrian-accessible alleys to be serviced by the district for the first time. Cleaner alleys could be used by pedestrians or by shops for retail or even dining space.

Since 1996, the property owners have assessed themselves nearly $24 million to pay for security, maintenance services and marketing activities to promote the revitalization of the area.

Major business developments in the district include the Hollywood & Highland Center and the Sunset & Vine residential-retail complex.

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