[Adopted 12-5-2019 by Ord. No. 2019-864]
In accordance with the Neighborhood Improvement District Act ("Act") (73 P.S. AA 831 et seq.), the "King of Prussia Business Improvement District" ("District") was initially established by the Township in the adoption of Ordinance No. 2010-791 on May 27, 2010; was reenacted and approved for an additional five-year term effective May 27, 2015 through May 27, 2020 in the adoption of Ordinance No. 2014-831; and by the terms of these enacted and approved amendments to Part 1, "Administrative Legislation," Chapter
7, "Business Improvement Districts," the District is hereby approved for an additional five-year term, effective May 27, 2020 through May 27, 2025, subject to the plans and District mapping incorporated herein.
The King of Prussia Business Improvement
District, Inc., a Pennsylvania nonprofit corporation with offices
currently at 234 Mall Boulevard, Suite 150, King of Prussia, PA 19406,
is hereby redesignated as the Neighborhood Improvement District Management
Association for the District under both the original and prior renewal
terms of the District, and the five-year renewal term approved herein.
The Board of Supervisors hereby approves
the preliminary renewal plan for the District set forth in Exhibit
A attached hereto and the plan is hereby made final. The King of Prussia
Improvement District, Inc. is granted the power to assess property
owners within the District a special property assessment fee. Renewal
invoices for all property owners (existing and new) shall coincide
with the existing calendar year of January 1, 2020, and shall issue
for each calendar year following.
The King of Prussia Improvement District
Inc. shall be responsible for the collection of annual assessment
fees, unless the organization requests that those responsibilities
be handled by the Township. Any necessary liens for nonpayment of
property assessment fees shall be imposed as set forth in the Act.
The District shall terminate on May
27,2025, unless the Township extends the term. The Township may reenact
or amend this article, and extend or approve additional terms, not
less than five years in length, following a review of the District
and the programs and services provided by King of Prussia Business
Improvement District, Inc., within the District.
The Township Manager's office shall
keep on file the document referred to as Exhibit A in AA 7-3 of this
chapter, and all accompanying documents referenced in Exhibit A, and
shall make them available for inspection by the public during regular
office hours.