During his July 29 weekly radio address, New York City Mayor Michael Bloomberg cited the Furman Center for Real Estate & Urban Policy’s recent study showing the positive impact that Business Improvement Districts (BIDs) have on commercial property values. The study showed that BIDs increase the value of commercial real estate within their boundaries by over 15 percent. Bloomberg said that BIDs are a crucial part of the city’s overall economic development strategy.
Read the Furman Center's report on BIDs
Read a transcript of the Mayor's July 29, 2007 radio address
Listen to the Mayor's July 29, 2007 address