Int 0190-1998

Be it enacted by the Council as follows: Section 1. Declaration of Legislative Findings. It is hereby found and declared that business improvement districts represent a valuable mechanism for restoring and promoting business activity within specifically-defined geographic boundaries. It is further found and declared that business improvement districts are primarily a tool to be used by businesses and commercial enterprises to stimulate and improve the business environment within a district. It is further found and declared that, although business improvement districts are designed and implemented essentially to benefit local merchants and other business enterprises, certain districts within the city of New York have imposed assessments on residential properties that have resulted in a disproportionate financial burden as compared to the benefits received by such properties in return. Therefore, it is the intent of the City Council to prohibit business improvement districts in New York City from assessing a levy on residential properties within the boundaries of such districts. �2. Chapter four of title twenty-five of the administrative code of the City of New York is hereby amended by adding a new section 25-418 to read as follows: �25-418. Prohibition of district charges on residential properties. Notwithstanding any provisions of chapters four and five of this title to the contrary, no district charge shall be levied by districts on any residential property within their boundaries, except that districts shall be authorized to levy a district charge on mixed use property, provided that such charge is based solely on that portion of such property used for commercial purposes. �3. This local law shall take effect immediately. 1 - 2 -