Thursday, March 28, 2013

FAQ of the Day:
What's a BID and Why is the HRP BID Called a NID?

A Business Improvement District (BID) is a public/private partnership in which property and business owners elect to make a collective contribution to the maintenance, development, and promotion of their commercial district.

As a public park rather than a business or commercial district, HRP NID does not meet the traditional definition of a BID.  In order to adapt the City’s BID law to meet the fiscal needs of Hudson River Park, FOHRP believed it would be more palatable to stakeholders to call it a Neighborhood Improvement District.  It will be the first and only Neighborhood Improvement District in the City.

Please note that by calling it a NID, the proponents of the NID may have hoped to distance
themselves from the more apt, but recently defeated “Park Improvement District” (PID) proposals for the High Line and Brooklyn Bridge Park.

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