T-R PHOTO By MIKE DONAHEY A view looking east of Marshalltown’s Main Street recently. Businesses and others occupying Main Street and side streets are key components of the Central Business District. The organization’s staff and volunteers have been working since 2002 to enhance downtown through physical improvements, recruitment, events, and other initiatives.

It’s abbreviated name, pronounced “smid” is strange to the ear.

Elongated, much better: Self Supporting Municipal Improvement District.

Regardless, SSMID is a downtown economic development tool which is attractive to the Central Business District’s board of directors.

And soon Marshalltonians will be hearing a lot more about it, courtesy of CBD staff and volunteers.

How it works

SSMID is a self-imposed levy upon commercial and industrial property taxable value within a district. The funds collected from the levy are restricted to improving the business and cultural environment of the central business district.

SSMID’s are divided into five different zones.

Rates are proposed at varying dollar amounts per thousand of taxable value.

It ranges from a Main Street property rate of $3.60 per thousand to residential rate of $1 per thousand to industrial/banks $2.40 per thousand.

One can find it in Chapter 386 of the Iowa Code.

Why needed?

The CBD said its current funding sources from the city, memberships and fundraising are too limited to meet its goals for a more robust downtown.

They say a SSMID is needed to assist it recruit businesses and continue efforts of downtown beautification among other initiatives.

Should it be approved, CBD would utilize funds to:

• Develop financial support for a marketing strategy for downtown retail businesses.

• Development of online media outlets to better focus on downtown events and businesses.

• Enhanced sidewalk snow removal and trash collection along Main Street.

• Installation of heritage themed way finding signs throughout downtown for parking, shops and points of interest.

Continued support for popular events: Holiday Stroll, Tiny Tim Tree Festival, Adopt A Veteran, Treasure Tour, and more.

Second ward councilor Joel Greer, who represents the city council on the CBD board of directors said it has been studying SSMID for more than a year.

“We wanted to wait until the second joint fire and police building referendum was decided, said Greer. “Also we had a change in volunteer leadership for the SSMID effort.”

What is next?

Next week, teams of CBD volunteers and staff will be calling on local businesses and industry to explain the program.

The teams hope to walk away with a signature on a petition supporting the effort.

The more names the better to show the Marshalltown City Council, which has the authority to authorize a SSMID district or decline.

About CBD

Created in 2002 as a Main Street community, the CBD has strived to invigorate and promote the downtown, It is a small organization driven by volunteer efforts of community leaders, according to organization promotional material.

Jenny Etter is director.

She was traveling on Tuesday and unavailable for comment.

Since 2002, CBD has:

• Facilitated more than $29 million in downtown building renovations and $17 million in property sales (most recently Tallcorn Tower, Iowa Wholesale and Kibbey Buildings).

• Created and ran 30 downtown events such as Adopt-A-Veteran, Holiday Stroll, and partnering with the Linn Creek Art Festival.

• Maintained beautification efforts and preservation initiatives such as the flower baskets and berms.

• Recruited and logged over 50,000 volunteer hours to run current programs

• Offered grant writing services to member business and building owners.

• Provided business training available to all members

For more information on the CBD or SSMID, call 641-844-2001, or visit marshalltownmainstreet.org.