Release #180-97

Contact: Colleen Roche (212) 788-2958 or Dwight Williams (212) 788-2972

Remarks by Mayor Rudolph W. Giuliani at Public Hearing on Local Laws

The bill before me, Introductory Number 898, establishes the 47th Street Business Improvement District (BID). At my request, it has been sponsored by Council Members Berman, Duane, Pagan, Powell and Abel. I would like to acknowledge Commissioner Earl Andrews, Jr. of the Department of Business Services for his role in shepherding BIDs through the approval process, and acknowledge the important contribution of the 47th Street District Management Association which worked so diligently toward the establishment of this new BID, which will be established in accordance with the District Plan filed with the City Clerk.

The 47th Street Business Improvement District generally includes properties fronting 47th Street between Fifth Avenue and the Avenue of the Americas, excluding 576-78 Fifth Avenue, 580 Fifth Avenue and 59 West 46th Street. Even though the proposed BID is one block, there are over 2,600 independent businesses located within the BID boundaries. The jewelry industry is very important to the economy of New York City, with over 25,000 employees working in the diamond and jewelry industries. Ninety percent (90%) of the diamonds that come into the United States go through dealers in New York City. 47th Street is also one of the world's major diamond-cutting centers. The purpose of this BID is to maintain and continue to raise the image and profile of 47th Street as a safe, attractive, and successful commercial district.

Services to be provided in the district include: security, marketing and promotion, special maintenance, administration, and such other activities as are required for the promotion and enhancement of the district. The district will be managed by the 47th Street District Management Association, Inc., with a first year budget of $300,000.

The Business Improvement District Program, a vital part of our neighborhood development efforts, is a valuable tool that strengthens and enlivens commercial and industrial areas of the City. It is further evidence of our commitment to the economic development and quality of life in our neighborhoods. We look forward to the success of the 47th Street BID, which is the City's 40th BID.

I will first turn to the bill's sponsors, Council Members Berman and Duane; next, to any other elected officials who wish to speak.

There being no one else to be heard, and for the reasons previously stated, I will now sign the bill.