"Mayor Zohran Mamdani announced on Sunday the establishment of the Coney Island Business Improvement District (BID), aiming to bolster small businesses with a $1 million investment. The investment will include a variety of sanitation and beautification efforts, enhanced marketing materials, additional greenery, and power-washed communal spaces. Mamdani said at Sunday's press conference announcing the BID that for far too long, the city and state have failed to invest in Coney Island in a meaningful way."
"BIDs in New York City are areas where local stakeholders oversee and fund the maintenance, improvement, and promotion of their commercial district. While not replacing city services, BIDs aim to deliver services and improvements above and beyond those typically provided by the city. Not-for-profit organizations run BIDs, and board members must include property owners, merchants, residents, and representatives of local elected offices. BIDs are funded by fees applied to property owners in the designated area in addition to philanthropy and grants."
Zohran Mamdani established the Coney Island Business Improvement District with a $1 million investment to support small businesses. The funding allocates sanitation and beautification efforts, enhanced marketing materials, additional greenery, and power-washed communal spaces. Business Improvement Districts are run by not-for-profit organizations and funded by property-owner fees, philanthropy, and grants. BIDs provide services above standard city services and do not replace them. BID boards must include property owners, merchants, residents, and local elected representatives. Coney Island continues to show remaining Hurricane Sandy damage and faces rising living costs, with over 100,000 residents and a 26.3% poverty rate.
Read at www.amny.com
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