MAYOR GIULIANI SIGNS COUNCIL BILL NO. 986, EXPANDING THE DOWNTOWN LOWER MANHATTAN BUSINESS IMPROVEMENT DISTRICT
Remarks By Mayor Rudolph W. Giuliani At Public Hearing On Local Laws
The next bill before for consideration is Introductory Number 986, a bill introduced at my request by Council Members Berman, Pagan, Fisher and Abel.
This bill would authorize the extension of the Downtown Lower Manhattan Business Improvement District (BID), by extending the district boundaries to include all of the Nassau Street Mall Special Assessment District. The Boards of Directors for both Lower Manhattan BID and the Nassau Mall overwhelmingly approved this proposed merger, which would also result in the dissolution of the Nassau Street Special Assessment District and its sub-districts.
This legislation reflects my Administration's continuing support of the establishment of BIDs. BIDs have been an important economic development tool, used to strengthen and stabilize commercial and industrial areas around the city.
The new district boundaries will continue to be managed by the Alliance for Downtown New York.
For the reasons previously stated, I will now sign the bill.
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