NEW YORK (1010 WINS) — Mayor Eric Adams on Thursday signed legislation to establish two new Business Improvement Districts in Castle Hill in the Bronx and in Manhattan's West Village.
Business Improvement Districts, or BIDs, represent specific geographical areas where local stakeholders oversee and fund the maintenance, improvement, and promotion of their commercial districts, and are overseen by the New York City Department of Small Business Services (SBS).
Expected to be fully functional by the beginning of Fiscal Year 2023, city officials said the BIDS will help local businesses bounce back from the COVID-19 pandemic and is the result of years of grassroots organizing.
Steering committees — representing property owners, business owners, and residents — came together to identify the needs of their neighborhoods and envision how a BID could improve the conditions and economic activity of Castle Hill and the West Village.
Officials said the new BID will serve Castle Hill Avenue from Manning Street to the Cross Bronx Expressway and Westchester Avenue from Olmstead Avenue to just east of Glebe Avenue.
The Castle Hill BID will have a first-year budget of $300,000, funded by a special assessment billed to property owners in the district, to provide supplemental sanitation, marketing, promotion, holiday lighting, economic development, and administration.
In addition, the new West Village BID will serve 7th Avenue South from Leroy Street to Perry Street, Bleecker Street from 6th Avenue to Charles Street, Christopher Street from Hudson Street to Greenwich Street, and various blocks nearby.
The West Village BID will fund sanitation, beautification, security/public safety, community engagement, economic development, advocacy, and administration. The first-year budget will be $594,906, also drawn from special assessments.
"Small businesses are the backbone of New York City’s economy, and ensuring they have the resources they need is critical to an equitable recovery," Adams said. "The bills we are signing today underscore our commitment to delivering for underserved communities, while promoting greater transparency for employees throughout the city."
He also approved legislation requiring some New York City employers to include a salary range with all job postings. The bill modifies provisions provisions of the salary transparency law and moves the effective date to Nov. 1.
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