Over $1 Million for Public Realm Design Support Will Be Provided to Underserved Commercial Corridors Through Public-Private Partnership
Our Bureau
New York, NY
New York City Mayor Eric Adams and New York City Small Business Services (SBS) Commissioner Kevin D. Kim have announced a series of new investments and programs to support and cut red tape for Business Improvement Districts (BIDs) and community-based organizations as the Adams administration continues to strengthen commercial corridors across the five boroughs. Mayor Adams specifically announced nearly $7 million in investments that will drive tourism and economic impact, support eligible BIDs with rising insurance premiums, and help develop public realm vision plans. New York City is currently celebrating “NYC Small Business Month,” and today celebrates its second-annual “NYC BID Day” — a day for BIDs to conduct business outreach, neighborhood clean-up events, and open street and public space activations, among other activities to drive economic opportunity across their communities.
“Small businesses and commercial corridors are the lifeblood of New York City’s thriving economy,” said Mayor Adams. “Since the start of our administration, we have invested more than $27 million in BIDs and other community development organizations through SBS, and today, we are investing almost $7 million more. As we celebrate New York City Small Business Month, we’re proud to strengthen our decades-long partnerships with New York City BIDs, make our commercial corridors more vibrant and safer, and drive economic opportunity across our communities.”
“Our small businesses and commercial corridors are a big part of what makes this city so great, and the Adams administration continues to act on its commitment to support them in every corner of the city,” said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. “Today and every day, I am grateful to the BID community for their partnership in driving traffic to our storefront businesses, enhancing commercial district vibrancy, and fueling our ongoing economic recovery.”
“Our city would not be half as dynamic and half as welcoming without the hard work that our BID partners do day in and day out,” said Deputy Mayor for Operations Meera Joshi. “You provide the magic of the public festivals and the dynamic retail and dining that puts our city a cut above the rest. You’ve done this sometimes despite the challenging layers of bureaucracy that city government has historically provided. You are great partners to us and now we must be great partners to you. That means giving you the space to do what you do best, enlivening our streets for everyone who lives, works, and travels in wonderful New York.”
“SBS is proud to oversee New York City’s 75 BIDs, which serve over 300 miles of commercial corridors and provide crucial support for the small businesses that form the foundation of our city’s neighborhood economies,” said SBS Commissioner Kim. “This ‘NYC BID Day’ we aren’t just celebrating 40 years of partnership with our BIDs, but ensuring that their impact and reach continues to grow through important and innovative programs. I want to thank Mayor Adams, Deputy Mayor Torres-Springer, Deputy Mayor Joshi, ‘New’ New York Executive Director B. J. Jones, and Chief Public Realm Officer Ya-Ting Liu for continuing to invest in the BIDs that have done so much to make New York the ‘City of Yes’ for small business.”
Cementing the Adams administration’s first-of-its-kind support to expand services in smaller BIDs and cultivate the formation of new BIDs and merchants associations, the Fiscal Year (FY) 25 Executive Budget includes $5.3 million in grant funding to help drive visitors and New Yorkers alike to commercial corridors, storefront businesses, and neighborhood institutions. Specifically, Mayor Adams’ executive budget invests in three programs: Merchant Organizing, BID Formation, and Small BID grant programs. These grants — launched for the first time in FY23 — support economic vitality in small and underserved commercial corridors. This builds on long-standing grant programs for BIDs, including through the Avenue NYC Commercial Revitalization and Neighborhood 360° programs.
“It’s fantastic that New York City is recognizing the essential role that BIDs play in building thriving neighborhoods all across the city,” said Samara Karasyk, chief executive officer, Hudson Square BID. “BIDs do work, often out of public view, that ensures New Yorkers have access to the kind of vibrant public spaces, experiences, and businesses that make New York City the best place to live on the planet.”
“BIDs are critical to keeping New York City neighborhoods safe, clean, and enjoyable for New Yorkers and visitors from all over the world,” said Madelyn Wils, interim president, Fifth Avenue Association. “Since the pandemic, marketing our local businesses and creating a safe and beautiful public realm, have become a growing need for many BIDS. The work we do every day wouldn’t be possible without the support of SBS and we are looking forward to continuing to build on our partnership.”
