New Jersey Assembly Hearing on SIDs
Experience Princeton, Municipality Highlight the Benefits of Special Improvement Districts (SIDs) at New Jersey Assembly Hearing
Princeton, NJ – March 15, 2024: Isaac Kremer, Executive Director of Experience Princeton, and Municipality of Princeton Councilmember Michelle Pirone Lambros testified Thursday, March 14, at the New Jersey Legislature's Assembly Community Development and Women's Affairs Committee regarding the significant advantages of Special Improvement Districts (SIDs) for local communities. Assemblywoman Shavonda E. Sumter, Chair of the committee, led the session, which aimed to explore the benefits and challenges of maintaining SIDs and downtown business improvement zones in the long term.
The hearing at the State House Annex in Trenton gathered experts and stakeholders to discuss the role of SIDs and downtown business improvement zones in enhancing municipal services and economic development throughout New Jersey. SIDs, defined as public/private partnerships where property and business owners collectively contribute to the maintenance, development, and promotion of their commercial district, have proven instrumental in revitalizing and sustaining local economies.
"Early on, we developed the Experience Princeton brand to create a public facing identity that would attract visitation and investment. This is now starting to pay off,” said Kremer. “Flagship programs like the Restaurant Week that just ended have garnered attention statewide and beyond. Regular gatherings each month bring the entire community together. We’ve worked hard to advocate for the interest of businesses on many issues including outdoor dining, allowable uses, and the Master Plan that was recently completed.”
Councilwoman Michelle Pirone Lambros, who played a pivotal role in initiating the SID in Princeton, said, "The creation of a SID can only be made possible through open communication, mutual trust, and finding shared goals between the governing body and business leaders of a community. Laying that groundwork is what has set up Princeton for success."
Experience Princeton's SID, one of the largest in the state, encompasses 12 sub-areas involving 270 property owners and 759 businesses. At the hearing, Kremer reported that Experience Princeton volunteers on four standing teams and the board have contributed 6,168.5 hours of time valued at $196,158.30.
For more information about Experience Princeton and its initiatives, visit experienceprinceton.org.
CONTACT
Isaac Kremer, Executive Director, Experience Princeton | Isaac@princetonbusiness.org | 313-268-4356
Pictured at top L to R: Orlando Cruz (Downtown Paterson), Susan McKay (Newark Downtown District), Mbacke N'Diaye Faye ( Newark Downtown District ), Melanie Thiel (Washington BID), Courtenay Mercer (Downtown New Jersey), Isaac D. Kremer (Experience Princeton), Ronice Bruce (South Ward SID), Michelle Pirone Lambros (Princeton), and Karl Weiskopf (Watson Institute for International and Public Affairs)
