"Of all of Midtown's sophisticated office avenues, it's the one least covered by BIDs," said Biederman, who launched the 34th Street Partnership, Bryant Park Corporation, and Chelsea Improvement Company, all three of which which he still leads, and the Grand Central Partnership.
The new BID would make "capital improvements as well as service improvements" largely geared toward "litter and graffiti that pile up beyond the scope of the city's sanitation work," Biederman said, "very much in the mold of what we've done at Grand Central and 34th Street."
The proposed BID must be reviewed by Community Board 5, the Department of City Planning, and the City Council before it can be implemented, a process expected to take 9 to 15 months, Biederman stated.
Property owners and tenants will be assessed about 13 to 14 cents a foot, but that charge will ultimately be shifted to apply only to the area's landlords. The 34th Street Partnership, by contrast, charges about 30 cents a foot.