BIDs receive over $3.1 million increase in annual spending. On November 28, 2007, the City Council passed a local law to increase the annual budget for 10 business improvement districts and one special assessment district. The increases will require property owners within these districts to pay more into their BID or SAD.

The Times Square Alliance received the largest increase at $768,000, bringing its annual budget to $10.4 million. Outside of Manhattan, the largest increase went to the Myrtle Avenue Brooklyn Partnership, located in the Fort Greene/Clinton Hill section of Brooklyn, which received a $100,000 increase, raising its annual budget to $350,000. (read more…)