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local improvement district

   Also found in: Acronyms, Wikipedia 0.01 sec.
local improvement district

A mechanism for property owners with common concerns to band together and assess themselves for purely local improvements such as sidewalk repair, neighborhood park rehabilitation, irrigation, and flood control. The local improvement districts must be authorized by state law and follow specific state procedures for formation, governance, and the issuance of bonds to finance the projects.



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The majority of property owners along Chad Drive supported the project, which allowed the city to approve a local improvement district for the area.
15Êmillion for Local Improvement District financing and assessments.
Among the services needed is one in which an appraiser appraises a wide variety of property classes and participates in the public hearing process by undertaking a special benefit/proportionate assessment study for a local improvement district (LID) or other special assessment districts, such as utility local improvement districts (ULIDs), local utility districts (LUDs), and road improvement districts (RIDs).
 
 
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