MAYOR GIULIANI CONSIDERS LEGISLATION TO INCREASE THE AMOUNT OF MONEY EXPENDED IN THE GRAND CENTRAL AND 34TH STREET BUSINESS IMPROVEMENT DISTRICTS
These two bills, which were sponsored at my request by Council Member Berman, deal with increasing the amount of money expended in two Business Improvement Districts (BIDs). A Business Improvement District is a valuable economic tool that works to strengthen commercial and industrial areas of the City. It also provides additional services beyond those provided by the City. The Business Improvement District Program permits the use of the City's taxing mechanism to generate revenue for enhancing the quality of life and ensuring local management and control over essential services at the neighborhood level.
The two bills, Introductory Numbers 964 and 965, authorize an increase in the amount to be expended in the Grand Central Business Improvement District and the 34th Street Business Improvement District in Fiscal Year 1998. The signing of these bills will enable these BIDs, located in Manhattan, to expand and reinforce the high level of supplemental services they currently provide in their Districts. Services to be enhanced include sanitation, retail services, horticulture, and special maintenance.
It is in the City's interest to authorize the increased expenditures requested by these Business Improvement Districts in order to further private investment and job creation and, additionally, to assist in their continued effectiveness. The Business Improvement District Program plays a vital part in our neighborhood development efforts. When government and businesses are in partnership, we can move forward to realize all that is best in the City of New York.
I will first turn to the sponsor of these bills, Council Member Berman; 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 bills.
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