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Q&A
Discussion on differences between large Manhattan BIDs and smaller outer borough BIDs
2:03:43
ยท
74 sec
Randy Peers from the Brooklyn Chamber of Commerce highlights the differences between large Manhattan BIDs and smaller outer borough BIDs, emphasizing the need to consider them separately when implementing new legislation or rules.
- Points out that most outer borough BIDs operate on much smaller budgets
- Mentions that additional cost burdens can significantly impact smaller BIDs
- Suggests indexing BID budgets to inflation to help them catch up financially
Randy Peers
2:03:43
Thank you.
2:03:44
So on your second point, I mean I think it's helpful to kinda tease out the largest bids, all of almost all of which are in Manhattan, and then the outer borough bids.
2:03:54
And I think when we think through whether it's containerization or other types of legislation that impact bids, that we need to look at the large bids and the small bids in very different camps because they face very different challenges.
2:04:05
Right?
2:04:05
There are a few large bids in Brooklyn and Downtown Brooklyn, but for the most part, the 23 bids in Brooklyn are are half a million or less in terms of annual budget.
2:04:15
So they're operating on a shoestring.
2:04:17
So anything that adds an additional cost burden is gonna really push them in a tough direction.
2:04:24
Now, yes, the supplemental funding that was allotted for small bids has been super helpful, and the fact that it might is gonna be baseline, I think that that's great.
2:04:32
But remember, we haven't indexed the bid budgets to inflation in years.
2:04:35
So we're we're actually just trying to catch up to some degree.
2:04:39
But I would I would just say for for the future, let's look at the two Outerborough bids versus Manhattan bids in two very different camps because their budgets are very, very different.
2:04:50
Yeah.
2:04:50
And about how much would it cost based on the numbers that you've heard from different players?
2:04:56
Who are if you can