Last month, the LA Fashion District BID held its Policy Committee Meeting. The Policy Committee intends to provide essential advocacy services for its membership, monitor the legislative environment, and effectively advocate to local government on behalf of the Fashion District BID Board of Directors and stakeholders.

One piece of legislation that all property owners should pay particularly close attention to is the Split Roll Property Tax, which will be an initiative on the November 2020 ballot. The ballot initiative would amend the state constitution to require commercial and industrial properties to be taxed based on their market value. The proponents of this effort believe it is between a $10B - $12B tax increase on commercial property.

The Policy Committee will review the proposed ballot initiative and determine how to best educate stakeholders and advocate on their behalf.

The LA Fashion District is at a critical point in its evolution. The wave of high-intensity urban development that has transformed much of Downtown Los Angeles has begun to enter our vibrant commercial hub. The bustling Flower Market is slated to be redeveloped as a 14-story mixed-use tower , and only a block away the massive City Market project is anticipated to add nearly 1,000 residential units, 300,000 square feet of office space, 200,000 square feet of retail, and a creative arts education campus . Indeed, new businesses and development activity are making headlines on a seemingly weekly basis.

These projects and market interest, though significant in scale, offer only a glimpse of the changes in store for our one-of-a-kind neighborhood. The City’s DTLA 2040 Draft Community Plan proposes a sweeping set of new land use and zoning changes across Downtown Los Angeles, regulating both the types and scale of new development that will shape urban life in the Fashion District for decades to come. Though new growth and change are essential parts of the urban experience, it is imperative that the Fashion District’s businesses, property owners, and other stakeholders are empowered to dictate and shape the course of their own future.

To that end, we have engaged MIG to assist us in this planning process so that we may communicate to the City Planning Department an authentic, mutually agreed upon vision for the Fashion District. With input from our stakeholders, we will create a set of recommendations that reflect stakeholder vision and goals, for the City to incorporate into the final DTLA 2040 document. Additionally, MIG will provide a strategic “how to” guide that outlines how property and business owners can respond to impending changes in the regulatory framework to maximize investments that also support the overall vision for the neighborhood.

LEARN MORE ABOUT MIG HERE.

Finance Committee Meeting

December 10th | 10:30am

Board of Directors Meeting

December 19th | 11:45am

Click here for additional meeting information.

Voting for the 2020 LA Fashion District Business Improvement District (BID) Board of Directors officially closed at 5pm on Monday, December 2nd, 2019. There were 8 candidates vying for 5 seats on the Board of Directors, for a 3-year term commencing on January 1st, 2020.

The candidates receiving the highest number of votes, weighted by property owner assessment, shall be elected to the Board of Directors. All property owners who own property within the boundaries of the LA Fashion District, and are current in assessment payments were eligible to vote.

Election results will be announced at the December 19th Board of Directors Meeting.

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