Legislation to Form two new Business Improvement Districts and Promote Salary Transparency in New York City
May 13, 2022 - 03:55 AM
NEW YORK – New York City Mayor Eric Adams signed legislation to establish two new Business Improvement Districts (BIDs) in the Bronx’s Castle Hill and Manhattan’s West Village. The bill signing will help accelerate the incorporation of these two BIDs, so that they will be fully functional by the beginning of Fiscal Year 2023. The creation of these new BIDs — along with today’s release of comprehensive guides for forming and expanding BIDs and Merchant Associations — deliver on Mayor Adams’ commitment to strengthen business supports in small and underserved commercial corridors, particularly in low-to-moderate-income (LMI) communities, as outlined in his “Renew, Rebuild, Reinvent: A Blueprint for New York City’s Economic Recovery.”
Mayor Adams also signed legislation amending Local Law 32 of 2022, which requires certain employers in New York City to post a salary range with all job postings. The legislation amends provisions of the salary transparency law and moves the effective date to November 1st of this year.
“Small businesses are the backbone of New York City’s economy, and ensuring they have the resources they need is critical to an equitable recovery,” said Mayor Adams. “The bills we are signing today underscore our commitment to delivering for underserved communities, while promoting greater transparency for employees throughout the city.”
The health of the city’s small businesses is essential to the vitality of local neighborhoods and represents the foundation of the city’s economy. BIDs represent specific geographical areas where local stakeholders oversee and fund the maintenance, improvement, and promotion of their commercial districts, and are overseen by the New York City Department of Small Business Services (SBS).
The creation of new BIDs in the Bronx and lower Manhattan will help local businesses bounce back from the COVID-19 pandemic and are the result of years of grassroots organizing. Steering committees — representing property owners, business owners, and residents — came together to identify the needs of their neighborhoods and envision how a BID could improve the conditions and economic activity of Castle Hill and the West Village.