It takes money to stage events throughout the year in downtown Albany, and one way to finance the activities is through a property taxing district.

Participating downtown property owners voluntarily pay a tax based on the square footage of their tax lots. The proceeds go to the Albany Downtown Association, which puts on many of the events.

The current three-year Economic Improvement District taxing program is about to expire. Rick Rogers, the executive director of the ADA, is encouraging property owners to continue in the program while recruiting new participants. A new five-year program would start on July 1.

To familiarize people with the taxing district, the ADA will hold a dinner and information session Feb. 21 at the Venetian Theater. The dinner is by invitation only. Any property owner in the district who has not received an invitation can contact Rogers at 928-2469.

Properties in the “primary” taxing area pay a higher rate than those properties in the “secondary” area.

The primary boundaries are roughly Washington Street on the west, the Willamette River on the north, Montgomery Street on the east, and Fourth Avenue to the south. Properties in that area would be taxed at 0.0403 cents per square foot, the current tax rate.

The secondary boundaries are roughly Calapooia Street on the west, Sixth Avenue with some blocks to Ninth Avenue on the south, Railroad Street on the east, and Fourth Avenue on the north.

The properties in that portion of the city would be taxed at 0.0235 cents per square foot, also the same as the current tax.

When the square footage of all tax lots is computed later this spring, the owners of 67 percent of that figure must agree to take part in the EID. If the total is reached, the city council must approve the district following a public hearing.

Property owners who object to being included must notify the ADA in writing. If too many people object, the district would cease to exist.

If approved, the city will mail out tax bills in August. Payment is due on Nov. 15. Property owners who pay the entire amount by Nov. 15 receive a 3 percent discount.

Money collected helps pay for the community Christmas tree, the Twice Around Downtown Parade, Movies by Moonlight, the Upstairs Downtown Tour, Crazy Daze, the snowflakes mounted on poles, summer flower baskets, Halloween trick-or-treat, Antiques in the Streets and more.

Money also is used to recruit new businesses to downtown, Rogers said.

Currently, the EID brings in $35,913 per year, which is more than 50 percent of the ADA’s annual budget.