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The original item was published from 8/22/2023 6:37:05 PM to 9/6/2023 12:00:07 AM.

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City of Pierre News

Posted on: August 22, 2023

[ARCHIVED] Process Begins for New BID

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 By approving boundaries and a board, the Pierre City Commission took the first step to establish Pierre’s third Business Improvement District (BID).

The BID boundaries include the yet to be built hotel at the old city hall development site located along Sioux Avenue. The board consists of five members; all are employees of Hegg Companies, the private development firm building the hotel, retail building, and apartments at the old city hall site.

“State law provides several tools to encourage private development,” said Pierre Mayor Harding. “A BID district is one of those that allows government to facilitate economic growth while holding taxpayers harmless.” 

A BID works as a self-imposed fee, often levied by the visitor industry. In the case of BID #3, people renting rooms at the new hotel would pay a BID fee. Those fees are then obligated to cover development expenses.

“The developers basically agree to set aside part of their room charges – the BID fee – to generate positive development of the community," said Mayor Harding.

Next, the City Commission will consider a resolution of intent for the BID; it’s part of a two-step process for the formal establishment of the BID. The process involves a public hearing.  

Construction of the nearly 80-room hotel is scheduled to begin later this year.  

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