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AGENCY TESTIMONY
Formation and expansion of Business Improvement Districts
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ยท
77 sec
Under the current administration, SBS has advanced the formation of new Business Improvement Districts and facilitated the expansion of existing ones to strengthen local commercial corridors.
- Three new BIDs formed: Castle Hill BID in The Bronx, West Village BID in Manhattan, and Cypress Hills Fulton BID in Brooklyn
- Example of expansion: Long Island City Partnership more than doubled its catchment area from 73 to 156 blocks
- Upcoming formation of a new BID along Harlem's East 125th Street business corridor, with a City Council Finance Committee hearing scheduled for 03/26/2025
Dynishal Gross
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Under this administration SBS has advanced the formation of three new business improvement districts including the Castle Hill bid in The Bronx, the West Village bid in Manhattan, and the Cypress Hills Fulton bid in Brooklyn.
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In addition, we have facilitated the expansion of several existing bids.
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For example, through our bid formation grants, we supported Long Island City partnership in more than doubling its catchment area from 73 blocks to 156 blocks and increasing access to supplemental sanitation, district marketing, and business resources.
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This year we also anticipate the formation of a new bid along Harlem's East 120 Fifth Street business corridor with an upcoming City Council Finance Committee hearing scheduled for 03/26/2025.
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I urge City Council members to support community members bid formation efforts as bids strengthen local commercial corridors, establish sustainable funding for neighborhood enhancements, and create lasting economic opportunities for businesses and communities alike.