Business Improvement District No. 2 (BID), a state statute-enabled entity created by the City in 1987, has the power to levy assessments on business property. The nine-member board is appointed by the Mayor of Milwaukee, subject to Common Council approval. Each year, the BID is responsible for submitting an operating plan, which includes the budget and goals for the year, to the Common Council as part of the City's budget. The operating plan includes any proposed assessments, which the BID Board has approved and the assessment formulas, which determine the assessments paid by individual property owners. The BID is classified as a quasi-governmental body, which is treated as an extension of the City, and holds ownership of the Milwaukee Public Market building. No public dollars are provided to the Market's annual operating budget.
The Historic Third Ward Association (HTWA), is a private non-profit 501(c)(3), financed through a combination of the BID #2, City and membership support. Created in 1976, the Association's goal is to promote the economic interests of the Ward. The HTWA is also a parent organization to the Milwaukee Public Market, supplying a management team to operate the Market.