Closing Bell: Barclays BID on Hold for Now


    A proposal for a Business Improvement District around the Barclays Center will not become a reality. The Commercial Observer reports that the Downtown Brooklyn Partnership, who first proposed the BID, just couldn’t figure how to spread the burden fairly on property owners. The BID, after some adjustments, would include the Barclays Center, the Atlantic Terminal and Center, the Brooklyn Academy of Music, and the Cultural District and commercial blocks on Flatbush. The DBP runs three other BIDs in the area and expected to establish another one by the end of the year, coinciding with the end of Bloomberg’s term. But after delays in the process, the DBP announced it just wouldn’t be moving forward. In a letter they sated “we have been unable to arrive at an equitable assessment formula.” As the Commercial Oberserver points out, the proposal, if it ever resurfaces, will have to wait until the next administration.
    The BID That Wasn’t: Barclays-Area Effort Dissolves, For Now [Commercial Observer]
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