Authorizing an increase in the amount to be expended annually in two business improvement districts.

A Local Law to amend the administrative code of the city of New York, in relation to authorizing an increase in the amount to be expended annually in two business improvement districts

This bill would authorize two existing business improvement districts (“BIDs”) throughout the City to increase the amount they expend annually. The BIDs intend to increase their budgets as follows: Lower East Side BID, from $1,300,000 to $2,000,000; and Hudson Yards BID, from $3,000,000 to $6,000,000.