What is a Business Improvement District (BID)?
Business Improvement Districts (BIDs) are partnerships between the city government and the private sector to advance the interests of commercial property owners within a specific geographic area, who by law represent a majority on a BID’s board of directors. All properties within a BID’s boundaries are levied a special tax to fund the provision of private services and district marketing as a means to increase the property value of the area encompassed by the BID. Often, the additional fees associated with the BID get passed on to the commercial tenants. In the case of northwestern Queens, an existing two-block BID, known as the 82nd Street Partnership, would be expanded over two miles along Roosevelt Avenue and Junction Boulevard to form the Jackson Heights-Corona Partnership.
How will the BID impact my community?
Higher property values means higher rents for the small businesses and residents in the area, many of whom haven’t recovered from the financial crisis of 2008. As in neighborhoods across the city, the BID will contribute to the displacement of entire communities, opening the way for chain stores, tourists, and new affluent consumers.
What can I do to stop the BID?
In a few weeks, business owners, property owners, and residents within the boundaries of the proposed BID will be asked to vote on whether or not they support the expansion of the 82nd Street Partnership. We urge everyone to vote NO to the BID! Contact us to find out how you can help.