Brooklyn's Progress
July 2003

Remarks by Mayor Bloomberg at a Public Hearing on Local Law

“The last bill before me is Introductory Number 456, sponsored at my request by Council Members Weprin, Fidler, Nelson and Yassky. The bill authorizes an increase in the amount to be expended annually in the Metrotech Area Business Improvement District (BID) located in downtown Brooklyn.

“This bill makes a technical adjustment to the Metrotech Area BID’s assessment budget to address the recent inclusion in the BID of the Brooklyn Renaissance Plaza, home to the Marriott Hotel and nearly one million square feet of Class A office space.  Local Law 35 of 2002 added this property to the Metrotech Area BID last November.

“The last assessment increase for the Metrotech Area BID did not reflect the inclusion of Renaissance Plaza.  Accordingly, this bill will permit the BID to utilize the assessment to be paid by Renaissance Plaza.

“While the City still faces a difficult budgetary environment, it is important that we continue to focus on ways to improve the business climate in New York City.  A thriving downtown Brooklyn is integral to the City’s economic revitalization and the Metrotech Area BID is a proven entity in creating and keeping jobs in the City.”