"The final bill before me today is Introductory Number 870, sponsored at the request of the Administration by Council Members Weprin and Comrie.  This bill establishes the Hudson Square Business Improvement District in the borough of Manhattan.

"This new Business Improvement District - located near the Holland Tunnel and characterized by large loft buildings which formerly housed printing and graphic-arts firms - has become a major resource and magnet for creative companies in media, advertising, architecture, publishing, graphic arts and entertainment, as well as retail businesses and nonprofit institutions.  Within the next three years, more than 1,000 mid-to-high-end hotel rooms will be added to the area in five projects, where formerly no such rooms existed.  The budget for the first year of the Hudson Square Business Improvement District's operation is $2.5 million.

"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.  BIDs are valuable economic tools that strengthen and stabilize commercial and industrial areas.

"The Hudson Square BID, the nineteenth established under our Administration, will provide maintenance and sanitation services, security services, marketing and promotion of local businesses, holiday lighting, economic development, beautification and landscaping.  The services provided to the community are essential to ensuring that small businesses, and the neighborhoods in which they operate, are given every opportunity to succeed.

"I would like to thank Small Business Services Commissioner Rob Walsh and his staff for their role in establishing this BID.  I also want to acknowledge the important contributions of the members of the Hudson Square BID Steering Committee and the City Council. "