Planning Commission For The District Plan

1736 Words7 Pages
vacancy rate of less than 20%, as well as current or pending capital improvements. After careful planning, outreach to the property and business owners, community residents, and the public, as well as conducting a needs assessment survey (Appendix C), a District Plan is drafted which serves as a business plan for the BID and is submitted the City Planning Commission for an approval. The District Plan is the most important document in the process as it includes the services and improvements the BID plans to provide, as well as the first year’s budget, and the assessment formula used to compute the amount each property owner is to pay. SBS recommends that a “BID should revisit their district plan approximately every five years or when major changes are needed”. After the District Plan has been submitted to City Planning Commission, the legislative authorization process follows legally mandated timeline and can take from nine to twelve months to complete. At the end the City Council adopts the BID Local Law and the Mayor signs it. Funding a BID Benefiting property owners pay an assessment which is billed and collected by the City of New York, which then disburses it to the BID. The assessment amount, if any, depends on the property type. “Occupied commercial or industrial properties are all assessed and pay a commercial rate” but “not-for profit owned and occupied properties generally do not pay an assessment” neither do City, State and/or Federal government occupied
Open Document