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CONTACT US
DISTRICT MANAGER:
ADDRESS:
KINGSBRIDGE
Business Improvement District
5760 Broadway, 2nd. Floor.
Bronx NY 10463
Tel: (718) 432 6935
Fax: (718) 432-6937
EMAIL:
QUICK FACTS
BOARD OF DIRECTORS MEETINGS:
— Held on a Bi-Monthly cycle
— Contact BID office for more info
RECENT DEVELOPMENTS
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QUESTIONS
WHAT IS A BID?
WHAT SERVICES DOES THE KINGSBRIDGE BID OFFER?
WHO CONTROLS THE BID?
WHO ELECTS THE BID LEADERSHIP?
WHO PAYS FOR BID SERVICES?
HOW ARE ASSESSMENTS DETERMINED?
HOW ARE ASSESSMENTS COLLECTED?
WHERE IS THE MONEY ALLOCATED?
ANSWERS
WHAT IS A BID?
A BUSINESS IMPROVEMENT DISTRICT (BID) is a special designated area where property owners
and businesses pay a fee (a special assessment) to provide extra services that can improve
the local business climate.
The BID's services do not replace City services, they only add to them. By law, the City
cannot reduce existing service in BID areas. Property and business owners within the BID decide
which services and programs to provide.
WHAT SERVICES DOES THE KINGSBRIDGE BID OFFER?
Area Maintenance and Beautification,
which includes sidewalk and street sweeping, emptying of trash baskets, and graffiti removal.
Holiday and Seasonal Decorations will cover the business district throughout the holiday season
and may be added at other times of the year.
Marketing and Promotion will also be done for this area through advertising, banners, shopping guides and maps, and
sponsorship of special promotions and events.
WHO CONTROLS THE BID?
After a BID is approved by City Council and signed into law by the Mayor, it is formally established as a tax-exempt non-profit corporation.
A District Management Association (DMA) oversees the administration of the BID. The DMA which represents all members of the BID, sets the
budget, determines the services, and hires the service providers and staff. The DMA is fully accountable to the BID members: it issues annual
reports, provides annual audited financial statements, and holds an annual meeting to adopt the budget and other DMA proposals.
It is a pleasure to introduce you to our BID and hope you will find reason to contact us and find out more about our dynamic and
exciting neighborhood.
WHO ELECTS THE BID LEADERSHIP?
Property owners, commercial tenants and residents within the BID boundaries elect their respective representatives to serve on the
District Management Association's Board of Directors. By law, the majority of the DMA members must be commercial property
owners, with at least one commercial and one residential tenant also being elected. The Kingsbridge BID board of Directors
meets every two months and the Executive Committee meets monthly to handle daily activities of the BID.
WHO PAYS FOR BID SERVICES?
All property owners within the District must contribute their fair share to finance the BID programs and services through a
BID assessment. This assessment is mandatory. Like real estate tax, all or some of the cost of the assessment may be passed
along to commercial tenants, subject to the terms of the lease.
HOW ARE ASSESSMENTS DETERMINED?
Every BID determines its own assessments according to an assessment formula that it selects for their District. The formula for
assessing district properties is based on a factor of real property, such as front footage, square footage or assessed values, or a combination
of these factores. In developing as assessment formula, the basic idea is to match as closely as possible the level of assessment with
the level of benefits received.
HOW ARE ASSESSMENTS COLLECTED?
The City collects the BID assessments on behalf of BIDs through a separate bill sent with the real estate tax bills. The City takes
no fee for collecting the assessments; every dollar collected is returned to the BID to pay for BID services.
WHERE IS THE MONEY ALLOCATED?
The money goes directly to fund the BID programs and services, which are selected by BID members. This is the current approved budget of the
Kingsbridge BID.
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Maintenance & Beautifications
Outdoor Decoration
Marketing and Promotion
Adminstration
Contigency
TOTAL BUDGET
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$70,000
25,000
20,000
103,300
17,500
$235,000
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