DUMBO BID approved

BID will encompass 366 properties and address sanitation, security and marketing needs. The Planning Commission unanimously approved an application by the Department of Small Business Services to create a DUMBO Business Improvement District. The proposed BID would encompass 366 properties containing 575 existing businesses bounded by DUMBO’s York, Old Fulton, Gold, and Bridge Streets and extending to the East River.

Under the proposed BID, businesses and industrial uses would be assessed $.05 per-square-foot and $.004 per dollar of assessed valuation. DUMBO residents would pay an annual $1 assessment. Government and not-for-profit groups will be exempt from the assessment, relieving the Watchtower Bible and Tract Society, which, in 2004, obtained City Council’s approval for a 736,000-square-foot development on a full city block within the BID area. 1 CityLand 33 (Dec. 15, 2004).

There were no speakers in opposition at the Commission’s April 27, 2005 hearing. The Commission approved the BID as submitted.

BID Approval Process The Department of Small Business Services, as lead agency, issued a negative declaration on March 9, 2005 and submitted the BID plan to Mayor Bloomberg, Brooklyn Borough President Marty Markowitz, Community Board 2, Council Speaker Gifford Miller, and Brooklyn Council Member David Yassky.

Community Board 2 unanimously approved. Mandatory public hearings before the City Council Finance Committee and the mayor are pending.

CPC: DUMBO BID (N 050365 BDK) (May 25, 2005). CITYADMIN

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