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AGENCY TESTIMONY
City of Yes for Economic Opportunity: Zoning reform for business growth
0:09:16
ยท
92 sec
Director Garodnick details the City of Yes for Economic Opportunity initiative, a major zoning amendment approved by the city council in June 2024. This reform aims to modernize outdated regulations that were hindering economic growth and business development in New York City.
- Replaces archaic regulations with flexible rules for 21st-century businesses
- Allows more entrepreneurs to start home-based businesses and supports small business growth
- Facilitates the reopening of shuttered storefronts across the city
- Underwent extensive public review, including over 150 community board meetings
Dan Garodnick
0:09:16
First, it was City of Yes for Economic Opportunity last year, which was approved by the city council in June.
0:09:25
This zoning amendment was urgently needed.
0:09:28
Although our economy has changed dramatically in recent decades, our zoning code remains stuck in the past.
0:09:35
Outdated regulations were holding back entrepreneurs and small businesses, stifling growing industries, and prolonging storefront vacancies.
0:09:44
For all of us tired of walking past empty storefronts, it is unacceptable that the city's own rules were preventing them from getting filled up.
0:09:56
With City of Yes for Economic Opportunity, as you all know, we changed all of that, replacing archaic regulations with flexible rules designed for the twenty first century that allow more entrepreneurs to start a business from home, make it easier for mom and pop shops to grow, support life sciences and clean manufacturing, and create more vibrant commercial corridors.
0:10:19
Already, we're seeing shuttered storefronts reopen from Bay Ridge to Lower Manhattan thanks to this initiative and we look forward to many more to come.
0:10:28
After a robust public review process that entailed over 150 community board meetings, I will remind you all, we have 59 community boards, I appreciate the time the council took to consider and ultimately to approve this proposal with modifications.
0:10:44
You all have helped to ensure our city's future prosperity.