The funding will be used to help CBDOs take critical steps to organize and plan BID formations in 17 commercial corridors around the city. This first-of-its-kind BID development program fulfills Mayor Eric Adams's commitment to invest in underserved commercial corridors and foster robust networks of small businesses around the five boroughs as outlined in Rebuild, Renew, Reinvent: A Blueprint for New York City's Economic Recovery.
SBS announced in a new report that the City's 76 Business Improvement Districts (BIDs) invested more than $162 million in New York City neighborhoods during fiscal year (FY) 2021, supporting nearly 300 miles of commercial corridors and approximately 24,000 storefront businesses.
We provide oversight and support to the City's existing Business Improvment Districts (BIDs) and to communities interested in creating new BIDs. Additionally, our staff serve as board representatives for all BIDs in New York City.
We offer a range of grant programs to help community-based organizations strengthen and revitalize commercial districts.
We strengthen community-based organizations (CBOs) across the five boroughs by partnering with experts in the fields of organization management and leadership skills to provide services and programs.
We work with community-based organizations to build vibrant neighborhoods where New Yorkers can shop, work, and live by: