WHAT IS A BID AND WHY FORM ONE NOW IN BEDFORD-STUYVESANT?

WHAT IS A BID?
A Business Improvement District (BID) is a public/private partnership in which property and business owners elect to make a collective contribution or assessment to the maintenance, development and promotion of their commercial district. Assessments are collected by New York City but 100% of the funds are forwarded to the District Management Association, a 501(c)3 organization that is formed and located within the district to manage the BID.
 

WHY FORM A BID NOW?

• Grassroots support by the business community is strong – active, dues-paying membership in the Fulton-Nostrand United Merchants Association increased nine-fold since 2004;
• The spending power of Bedford-Stuyvesant residents is growing, however,
• Residents of Bedford-Stuyvesant are increasingly demanding a more attractive commercial environment and diverse retail offerings than currently exist;
• Competition from existing and proposed retail at Atlantic Terminal/Atlantic Yards
• Pending New York City capital improvement dollars designated for Fulton Street/Nostrand Avenue are contingent on the existence of a mechanism (a BID) for the ongoing maintenance of the City's infrastructure investment;
• Public Sector Investment in the physical infrastructure of the business district (streets and sidewalks) is essential to create a more attractive physical environment that will
  • Increase customer foot traffic
  • Provide an aesthetic environment that will be able to lure new retail and restaurant offerings

ISN'T THIS WORK ALREADY BEING DONE?
The existing commercial revitalization program has produced the following results:
-    Small scale sweeping of the sidewalks – donated by The Doe Fund
-    Partnership with the NYPD to reduce crime
-    Marketing of the district via website and quarterly newspaper advertising
These current activities supporting the revitalization of the business district are supported by grants from New York City and private foundations. However, these sources of revenue are neither adequate nor sustainable and support services for the business district as they currently exist will one day cease, threatening progress made to date in reduction of crime, cleanliness and attractiveness.

Formation of the Bed-Stuy Gateway BID will ensure that the business district is maintained well into the future and continues to mature as an attractive place for small business investment, shoppers and employers.

DO YOU WANT A SAFER, CLEANER, MORE ATTRACTIVE AND PRODUCTIVE BUSINESS DISTRICT?
Sign the Bed-Stuy Gateway BID Ballot and vote YES, I Support the formation of the Bed-Stuy Gateway BID.

Jump to Sections:

• About the Bed-Stuy Gateway BID Homepage
• What is a BID and why form one now in Bedford-Stuyvesant?
• Facts about the Bed-Stuy Gateway BID
• FAQ's about BID's from the New York City Department of Small Business Services
• Voice your support for the formation of the Bed-Stuy Gateway BID by signing our ballot and email/fax or mail it back to us.

Comments

[Loe]

I am all for the successful formation of BID. I do however think that it needs to go through all of Bed-Stuy to the Ralph Ave train station. If anywhere needs the improvement then it is that stretch from Troy to Ralph Ave.