Management Agreements

In some instances, a non-profit organization, such as a Local Development Corporation (LDC), acts as the managing organization for the BID.  Many times these organizations were an integral part in forming the BID and are an appropriate management entity because they are already established in the community and share a similar mission and vision as the BID.  Furthermore, a BID that is run through an LDC can save on costs such as office space, equipment and supplies by sharing these with a management organization.

The local non-profit and BID must generate and execute a management agreement that outlines the terms, conditions, payment and roles of each organization.  A sample management agreement is available here.