What is a BID?
BID stands for Business Improvement District. Commercial property owners in cities across the world are allowed by law to organize themselves by neighborhoods, to work together to help revitalize their business community, spur economic development, and provide additional services that supplement what the City provides, such as sanitation and maintenance, public safety, beautification, and marketing.
New York City is home to the largest network of BIDs in the country. The 72 BIDs in New York City invest over $120 million a year in programs and services for neighborhoods across the five boroughs.
Funds to pay for BID programs and services come from a special assessment on property owners, which is collected by the City and disbursed to the BID, which delivers the district’s services. BIDs are operated as not-for-profit organizations and are governed by a Board of Directors elected by the members of the BID. Residents, businesses, and property owners in the area are eligible to register as members.
Find out more about the Hudson Square BID at http://hudsonsquarebid.org/