Old Town is trying to instill a Business Improvement Zone (BIZ) to increase funding. “Old Town is part of what’s called a Principal Shopping District (PSD) and has its properties assessed, essentially a special tax,” said Jamie Schriner-Hooper, a volunteer for the Old Town Organization Committee. “Old Town has been trying to put a Business Improvement Zone (BIZ) in place so that the funding stays in Old Town.”
“The process of a BIZ is quite intricate. Once we are a BIZ we will not be a PSD they are two different types of taxing bodies,” said the executive director of the Old Town Commercial Association, Brittney Hoszkiw. Attached is an excel work sheet with a work plan regarding Old Town becoming BIZ. Half of the PSD tax that property owners pay is returned to the Old Town community, in the form of a grant. They would like 100 percent returned to the community, she said. Hoszkiw described the PSD as an organization that has a similar mission, focused on downtown Lansing.