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FOR IMMEDIATE RELEASE
PR- 527-09
December 7, 2009

MAYOR BLOOMBERG SIGNS LEGISLATION EXPANDING THE BOUNDARIES OF THE TIMES SQUARE ALLIANCE TO INCLUDE ONE BRYANT PARK

Remarks by Mayor Bloomberg at a Public Hearing on Local Laws

"The final bill before me today is Introductory Number 1057, sponsored at the request of the Administration by Council Members Weprin and Comrie.  Introductory Number 1057 expands the boundaries of the Times Square Alliance to include the new Bank of America tower located at One Bryant Park.

"The new Bank of America tower is located on a property just outside of the boundaries for two of the City’s Business Improvement Districts, on the corner of 42nd Street and 6th Avenue.  The company requested that their new headquarters be included in both the Bryant Park BID and the Times Square Alliance so that they could better support the economic development of New York City.  Earlier this year, the Bank of America Tower was included in the Bryant Park BID and now it will also be part of the Times Square Alliance.

"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 Times Square Alliance was established in ­­­1992 and includes 39 Broadway theatres, 35 hotels, over 40 movie screens, 300 restaurants, and more than 30 million square feet of office space.  In addition, it is one of the most popular tourist destinations in the City and the site of the world famous New Year’s Eve celebration.  And now, with the inclusion of the Bank of America tower, we add to the wonderful spirit of this business improvement district.

"I would like to thank Department of Small Business Services Commissioner Rob Walsh and his staff for working with the BID and Bank of America to make Times Square an even greater destination for tourists and native New Yorkers alike.  I would also like to thank the City Council for approving this legislation."







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