A Business Improvement District (BID) is a geographical area where local stakeholders oversee and fund the maintenance, improvement, and promotion of their commercial district.
BIDs create vibrant, clean, and safe districts. They deliver services and improvements above and beyond those provided by the City. Working with the City and community, BIDs are a powerful voice for their districts.
BIDs services can include:
BID services do not replace those provided by the City. By law, City services cannot be reduced because of the existence of a BID.
Each BID is run by a not-for-profit organization with a Board of Directors. Elected by members in the district, the Board must include property owners, merchants, residents, and representatives of local elected office. The Board is in charge of making key decisions about programs and services, budget, goals, policies, and staffing.
BID programs and services are funded by a special assessment billed to property owners within a district. Assessments are unique to each BID and decided upon by the BID’s stakeholders. The City of New York assists with the collection of the special assessment, which in turn, is distributed directly to the BID. The BID receives 100% of the money collected.
On average, assessments make up 75% of BID budgets. Most BIDs also fundraise, apply for grants, and generate revenue from programs to support the services they provide.
We provide oversight and support to the City's existing BIDs and to communities interested in creating new BIDs. Additionally, our staff serve as board representatives for all BIDs in New York City.