The Troy city government is currently deliberating whether or not to approve a downtown Business Improvement District. Last Tuesday, a group of business leaders asked the Troy City Council to start a 30 day comment period on the proposal.
The current plans call for an additional fee amounting to five percent of property tax to be assessed on over 300 downtown businesses as well as some multifamily homes in downtown Troy. Money raised through the fees would be spent on improving the way downtown looks in an attempt to bring new businesses to the area.
If and when the comment period begins, the property owners who would be assessed the mandatory fee can file objections to the proposal, and if a majority do so, the proposal cannot pass. While Troy Mayor Harry Tutunjian favors the proposal, Marjorie DerGurahian, president of the City Council, does not seem to agree.
The members of the Troy City Council will meet to plan their agenda for next month this Thursday. More information on the proposed Business Improvement District is available on the web at http://www.troydowntown.com/.
