FOR IMMEDIATE RELEASE
May 6, 2008
MAYOR BLOOMBERG SIGNS LEGISLATION EXPANDING THE BOUNDRIES OF THE BRYANT PARK BID AND MODIFYING ITS METHOD OF ASSESSMENT
Remarks by Mayor Bloomberg at a Public Hearing on Local Laws
"The final two bills before me today are Introductory Numbers 722 and 723, sponsored at the request of my Administration by Council Members Weprin and Gennaro. Introductory Number 722 expands the boundaries of the Bryant Park Business Improvement District to include the new Bank of America tower and Introductory Number 723 changes the method of assessment upon which the district charge is based, to include a new class for properties located in two Business Improvement Districts.
"Business Improvement Districts, also known as 'BIDs,' are voluntarily formed community organizations that promote business development and improve the quality of life in neighborhoods across the City. Established by local law, BIDs are self-funded by local property owners and are overseen by the City's Department of Small Business Services.
"The Bryant Park BID was established in 1986 and includes over 740 businesses. The new Bank of America tower is located on a property just outside of the BID's boundaries, on the corner of 42nd Street and 6th Avenue and the company requested that their new headquarters be included in the Bryant Park BID so that they could support the great work being conducted by the BID. In showing their commitment to the neighborhood, Bank of America even chose a new address for their building: 1 Bryant Park. Bank of America has also requested to be a part of the adjacent Times Square Alliance, further demonstrating their support of BIDs.
"I would like to thank the Commissioner of the Department of Small Business Services, Rob Walsh, and his staff for working with the BID and Bank of America to make Bryant Park an even greater destination for tourists and native New Yorkers alike. I would also like to thank the City Council for approving this legislation."
Stu Loeser/Evelyn Erskine (212) 788-2958
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