The Downtown Laredo Management District (MMD) seeks to make Downtown Laredo the center of commercial, civic and cultural activity. By mobilizing resources and affecting positive growth and change within the district, the MMD is committed to the revitalization of a vibrant Downtown Laredo.
The MMD began it’s efforts to bring change to downtown Laredo in 2015 and has the ability to self sustain through assessment funds which can be enacted through a revenue from property within the district and through collaboration on specific projects and programs with the City of Laredo.
To Transform Downtown Laredo into a world class destination where people can live, work, shop and play!
MAP OF THE DISTRICT
- WHAT IS A MANAGEMENT DISTRICT? A Management District (MMD) is a public/private partnership in which property and business owners make a collective contribution to the maintenance, development and promotion of their commercial district.
- HOW IT WORKS: The idea for Management Districts is modeled on the shared maintenance program of many suburban shopping centers. Malls are typically single properties, managed by one entity that sublets the retail space to multiple tenants. Tenants pay a common area fee to underwrite services that enhance the appearance of common areas and provide cooperative advertising for the mall and its stores. A MMD works in much the same way.
However, because the MMD is set in an urban context, multiple property owners agree to the extra fee (assessment). Thus, stakeholders in a commercial district can align themselves in much the same way to improve their area.
- ADVANTAGES OF A WELL ORGANIZED MMD:
- A cleaner, safer and more attractive business district
- A steady and reliable funding source for supplemental services
- The ability to respond quickly to changing needs of the business community
- The potential to increase property values, improve sales and decrease commercial vacancy rates
- A District that is better able to compete with nearby retail and business centers.
- Advocacy to create a better land development code for the district so that when new structures are built, the fabric of the neighborhood is not lost.
- The ability to address homestead preservation in neighborhoods surrounding the district and disadvantaged businesses in the area when both are being lost at an unbelievable speed.
- Business diversity will revitalize the district into a place where you can live, work, shop, and play.