QUESTION
What is the difference between Business Improvement Districts (BIDs) and Merchant Associations?
0:15:41
·
29 sec
Deputy Commissioner Calvin T. Brown explains the difference between Business Improve Districts (BIDs) and Merchant Associations.
- Merchant Associations are voluntary organizations that support merchants within a specific geography.
- Business Improvement Districts (BIDs) are legislated, requiring every business property owner within a mapped geography to contribute to an assessment.
- BIDs are established through legislation, whereas Merchant Associations are formed voluntarily.
Oswald Feliz
0:15:41
And we have a lot of bids on the City of New York.
0:15:43
We also have a lot of merchants associations.
0:15:46
What's the difference between both of them?
Calvin T. Brown
0:15:48
So the difference between a bid and a merchant association is that a merchant association is a voluntary organization that supports the merchants within a specific geography, whereas a bid is a legislative.
0:16:00
And as part of that legislation, a geography is mapped, and every business property owner within that that geography has to pay into the assessment.