De Blasio signs BID budget booster bill
The Bay Ridge Fifth Avenue Business Improvement District (BID) will have nearly $90,000 in additional funding in its annual budget now that Mayor Bill de Blasio has signed a City Council bill into law which calls for a budget increase.
The Bay Ridge BID is one of nine BIDs around the city whose budgets will increase under the law signed by de Blasio on Feb. 8. The Bay Ridge BID budget will go from $$338,000 to $427,000 a year.
The Montague Street BID in Brooklyn Heights is also among those that stand to benefit from the new law.
The City Council passed the bill on Jan. 19. The legislation, which de Blasio requested, was sponsored by Councilmembers Vincent Gentile (D-Bay Ridge-Dyker Heights-Bensonhurst), Julissa Ferreras-Copeland (D-Elmhurst), Margaret Chin (D-Lower Manhattan) and Deborah Rose (D-Staten Island).
Gentile voted in favor of City Council legislation to form the Bay Ridge Fifth Avenue BID back in 2006.
BIDs are public-private entities that are funded by property owners in a commercial area who agree to pay an added assessment on their real estate taxes. The funds are used to enhance marketing to promote stores in the BID area, street beautification, public safety, business development, capital improvements and community services.
The New York City Department of Small Business Services oversees the city’s BIDS.
The first BID in the U.S. was established in New Orleans in 1975.
Gentile said the Bay Ridge Fifth Avenue BID, which runs along the avenue from 65th Street to 85th Street and represents hundreds of stores, is highly successful.
“If you live in Bay Ridge, you know that Fifth Avenue between 65th and 85th streets is one of the main attractions and areas of commerce in our great town. The BID was established to maintain and amplify its presence in our community. Over the past decade under the leadership of Executive Director Patrick Condren and President Jim Clark, the BID has delivered on its goals. Whether it’s through popular events like the Fifth Avenue Festival, keeping our streets secure, clean and beautified, the BID has and will continue to expand, drawing visitors, evoking Bay Ridge pride and acting as a prime example for future BIDs in my district,” Gentile said.
Clark said the BID plans to use the new funding to host an outdoor “Taste of Fifth Avenue” street fair in June to promote the avenue’s restaurants.
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