How is a BID formed or expanded?
Whether creating a new BID, or expanding a current BID like Hudson Square, the process is relatively similar.
Completed Phase 1: Planning
- BIDs are a long term financial commitment. Because of this, thoughtful planning is needed to determine how to meet the area’s needs – both now, and in the future.
- This starts with a Statement of Need; a document that analyzes the neighborhood’s characteristics and its need for services. Every neighborhood is different and so are its needs, so this process is important and unique for every BID.
- A Steering Committee is formed, which is comprised of various stakeholders from the community – property owners, businesses, residents, and retailers.
- This Steering Committee proposes boundaries for the BID, prepares a Needs Assessment Survey for the community to make sure the Statement of Need is addressing the right points, and drafts a plan for the BID, which details what services are to be delivered and the operating budget for the proposed BID. This plan is called a District Plan and serves as the yardstick against which the BIDs services will be measured by its members.
Current Phase 2: Outreach
- After finalizing the District Plan, the Steering Committee begins to conduct outreach to both inform the public and build support for the BID. Outreach is conducted through holding public meetings and gathering signed statements of support.
Tuesday, November 28th
9 am Hudson Square Connection Offices
180 Varick Street, Suite 422
6 pm Getting Hungry
225 Varick Street, Ground Floor
Pending Phase 3: Legislative Authorization
- Creating or expanding a BID requires approval from the City Council. The proposed District Plan is reviewed by a number of government agencies and local elected officials before going to the City Council for approval.
- After reviewing the outreach and planning activities described in Phases 1 and 2, the City Council holds public hearings .. Following those hearings, the Council will vote on legislation to establish or expand the BID., If the Council approves the legislation, it must be signed into law by the Mayor.