New York City will provide relief for small businesses across the City seeing a reduction in revenue because of COVID-19.

City says BIDs help improve neighborhoods

SBS report cites $134.7 million investments made by businesses
By Paula Katinas
Brooklyn Daily Eagle
March 20, 2017

Business improvement districts (BIDs) do more than improve the bottom line for storeowners, according to the New York City Department of Small Business Services (SBS), which has issued an eye-opening report detailing the ways in which BIDs invest in their communities to make the neighborhoods better for residents and shopkeepers alike.

The city’s BIDs invested a total of $134.7 million in their communities during Fiscal Year 2016, SBS officials said. The information is contained in a report called the SBS FY16 Business Improvement Districts Trends. Renee Giordano, executive director of the Sunset Park BID, said she wasn’t surprised by the findings in the report.

“Our members don’t see themselves as being plopped into a community. We feel that we are part of the community. There is a closeness there,” Giordano told the Brooklyn Eagle…

Read the rest of the article at the Brooklyn Daily Eagle
Read the SBS FY16 BID Trends Report at the NYC Department of Small Business Services