An interesting question arises out of the redevelopment of downtown's vacant parking lots into new condominium and apartment homes. The revenue formula under the standing BID requirements show that each time a parking lot or warehouse or office building is redeveloped for residential use, the remaining commercial property owners are asked to make up for the lost revenue. There was an interesting article in today's Denver Post by Margaret Jackson. Please see the link below to read the entire article. Since 1995, about 466,000 square feet of land and 1.6 million square feet of space were converted into residents in downtown Denver, which results in a net loss of about $91,250 to the BID. The residents also require more services, like 24/7 security and generate more trash. But the residents already pay into their own HOA. The Downtown Denver Partnership is looking at forming a Community Improvement District (CID) so that the residents have their own resources to manage the residential services. The partnership says it empowers the residents, but the residents say they are already taxed to pay for services such as trash removal. As a business and commercial owner, I would comment that I pay taxes to cover these services too. I also pay into the BID, and I hope the residents will likely end up with some sort of CID sooner than later. The evolution of downtown Denver into a top-tier city will bring about issues like this that the downtown community will rally around and figure out a good solution. | 
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