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BID Assessment Increase Hearing

At 10 am on November 14th, a public hearing will be held in the City Council Committee Room, 2nd Floor, located at City Hall in Manhattan. The purpose of the hearing is to consider a local law which authorizes an increase in the annual amount to be expended in the Flatiron/23rd Street Partnership Business Improvement District (BID).
 
The BID currently has one of the lowest assessment rates of all Manhattan BIDs, and this proposed increase is only the second since its inception in 2006. The proposed assessment increase of roughly 4.5 cents, from 11 cents per commercial square foot to 15.5 cents, is to be phased in over three fiscal years. Rising operating expenses, coupled with expanded programming and public improvement projects, compel the BID to consider this increase in order to maintain the high level of service that has proven to be so vital to the success of the Flatiron District.
 
For full hearing details, including the agenda, please click here.

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