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BIDs’ budgets to balloon in 2014
Districts will spend windfall on outdoor spaces, improved street lights
As Mayor Bloomberg’s administration nears an end, seven of the 25 largest business improvement districts in the city will see a windfall in next year’s budget, with a 21 percent year-over-year median gain in budgets across all BIDs.
The annual assessment for the Alliance for Downtown New York, for example, grew 21 percent to $15.8 million this year. The Garment District Alliance saw a budget increase of $2 million, to $7.8 million, for next year. It plans to continue enhancing the streets with new lights and more expensive furniture at Broadway Plaza Hotel’s outdoor space.
“The momentum that these business improvement districts have will continue,” James Mettham of the Department of Small Business Services. “We like them to raise the bar through innovative ideas and programming.”
Despite widespread community opposition, the City Council approved the controversial Soho Business Improvement District in October after a three-year delay. [Crain’s] — Mark Maurer