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Funding Structure

The Central Avenue Special Improvement District Management Corporation (CASID) is a private not-for-profit 501(c)4 corporation representing business and commercial property owners within the Central Avenue Special Improvement District servicing the greater Jersey City area. Having established an ongoing public-private partnership with local government, CASID members levy an annual self-imposed (tax) assessment on the 200 commercial properties within the district to finance the organization (residential properties are exempt). Each individual SID Assessment is determined using the following formula: Retail linear footage on Central Avenue multiplied by the current rate ($15). The average Central Avenue commercial property storefront is 25 linear feet making the average SID Assessment equal to $375 a year.

Additionally, the CASID continues to receive a 1:1 matching fund from the City and State Urban Enterprise Zone (UEZ) program thereby doubling each SID Assessment. The entire operating budget for CASID consists of the SID Assessment, UEZ funds, and other private funding. Each year, the Board of Trustees present a budget to its general membership and the City Council of Jersey City for approval.