Independent retailers in New York City are struggling as rents and the cost of goods rise. Retail rents increased 54 percent between 2001 and 2008, according to a report on independent retail from the Pratt Center for Community Development, a part of the Pratt Institute that supports sustainable development in New York City. The report encourages the Bloomberg administration to develop a plan to help struggling local merchants and areas dotted with empty storefronts. Pratt suggested that the city implement land use regulations, such as zoning provisions that prevent the expansion of chain stores; financial incentives for landlords who bring in local retailers; and programs such as grants for local business owners. TRD
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As retail rents rise, city can help
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