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Fifth Ave. near BID.

The New York City Planning Commission voted last week to approve the Fifth Avenue Association as the latest of the city's Business Improvement districts.

Fifth Avenue Association President Thomas Cusick said the "BID" still must be approved by the City Council, scheduled to vote on Feb. 3. "I'm not aware of any pockets of opposition," he noted.

The BID was approved overwhelmingly by the two local community boards last year.

The district begins at 46th Street, where the Grand Central BID leaves off, and run up Fifth Avenue to 61st Street at the Pierre Hotel. It will also stretch across 57th Street between Sixth and Madison Avenues and loop into some portions of 56th Street.

Cusick said by mutual agreement the BID will skip over Rockefeller Center since it already provides security and sanitation services. The Center did contribute to the organization efforts for the baby BID. Cusick explained that most of the Manhattan BIDs, in fact, were modeled after Rockefeller Center.

A budget of $1.8 million will be attained by an addition to the fronting buildings property taxes. Commercial properties will pay 5.5 cents per square foot while residential properties, such as the Olympic Towers condominium, would pay $1 per tax lot; vacant lots will also pay $1.

The money will continue to support the sanitation crew currently in place and provide a strong security presence. "Our goal is to put one security person on every block," Cusick said. He has, been fund raising from the propert) owners on a yearly basis to maintair the sanitation crew.

There are currently 25 BIDs in place and about five more that will join the compliment by the end of the year, said Barbara Wolff, the assistant commissioner in the Department of Business, Services who heads up the BID unit.
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Title Annotation:New York City Planning Commission approves Fifth Avenue Association as one of city's Business Improvement districts
Author:Weiss, Lois
Publication:Real Estate Weekly
Date:Jan 13, 1993
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