Due to active opposition, the Council held first-ever oversight hearing on a proposed BID. On September 21, 2011, the City Council approved the establishment of the Chinatown Business Improvement District for more than 6,000 businesses in Manhattan. The BID comprises 50 blocks generally bounded by Broome Street to the north, Worth and Madison Streets to the south, Allen Street to the east, and Broadway to the west. The first-year budget will be $1,300,000.

At the City Planning Commission’s January 2011 hearing, while no one testified in opposition to the BID, following the hearing, the Commission received letters from property owners opposed to the BID’s assessment formula. 8 City- Land 42 (April 15, 2011).  (read more…)

Proposal encompasses 50 blocks and more than 6,000 businesses. On March 2, 2011, the City Planning Commission approved the Department of Small Business Services’ plan to create the Chinatown Business Improvement District for more than 6,000 businesses in Manhattan’s Chinatown. The BID would comprise 50 blocks generally bounded by Broome Street to the north, Worth and Madison Streets to the south, Allen and Rutgers Streets to the east, and Broadway to the west. The BID would abut the southern border of the proposed SoHo BID, which the Commission approved in January 2011. 8 CityLand 8 (Feb. 15, 2011).

The BID would allow for an annual assessment on businesses and residents primarily to fund sanitation services and holiday lighting costs. The BID’s first-year budget of $1,300,000 would set aside $1,000,000 for sanitation services, $100,000 for holiday lighting costs, and $200,000 for administrative expenses. Wholly commercial properties would be assessed based on a combination of a linear front footage rate not to exceed $15 per linear foot, and an assessed value rate not to exceed $1.50 per $1,000 of assessed value. Residential properties would pay an annual $1 assessment, and government and non-profit uses would be exempt. (read more…)