Res. No. 452 Title Resolution concerning the increase in the annual expenditure for the Metrotech Area, the Times Square, the 34th Street, the Myrtle Avenue, the Graham Avenue, the 82nd Street, the Grand Central, the Church Avenue, the Fifth Avenue, the Fashion Center, the Hub Third Avenue, the Flatbush Avenue, the Grand Street, the 125th Street, the White Plains Road, the Washington Heights, the 14th Street-Union Square, the Lincoln Square, the Montague Street, and the Brighton Beach Business Improvement Districts, and the setting of the time and place for the hearing of the local law increasing the annual expenditure for such districts. Body By Council Members Weprin, Nelson and Yassky (by request of the Mayor) Whereas, pursuant to Chapter 4 of Title 25 of the Administrative Code of the City of New York or the predecessor of such Chapter (the "BID Law") the City established the Metrotech Area, the Times Square, the 34th Street, the Myrtle Avenue, the Graham Avenue, the 82nd Street, the Grand Central, the Church Avenue, the Fifth Avenue, the Fashion Center, the Hub Third Avenue, the Flatbush Avenue, the Grand Street, the 125th Street, the White Plains Road, the Washington Heights, the 14th Street, the Lincoln Square, the Montague Street, and the Brighton Beach Business Improvement Districts; and Whereas, pursuant to Local Law No. 82 for the year 1990, the City Council assumed responsibility for adopting legislation relating to Business Improvement Districts; and Whereas, pursuant to Section 25-410(b) of the BID Law, an increase in the amount to be expended annually may be adopted by local law, provided that the City Council determines, after a public hearing, that it is in the public interest to authorize the increase and that the tax and debt limits prescribed in Section 25-412 of the BID Law will not be exceeded; and Whereas, the twenty Business Improvement Districts wish to increase the amount to be expended annually beginning on July 1, 2002 as follows: Metrotech Area, from $1,989,936 to $2,189,936; Times Square, from $5,935,000 to $8,600,000; 34th Street, from $7,043,000 to $7,994,000; Myrtle Avenue, from $222,845 to $300,845; Graham Avenue, from $125,125 to $137,638; 82nd Street, from $140,000 to $157,420; Grand Central, from $10,050,000 to $11,014,800; Church Avenue, from $110,000 to $145,000; Fifth Avenue, from $ 1,817,570 to $2,126,766; Fashion Center, from $3,000,000 to $4,000,000; Hub Third Avenue, from $269,927 to $309,927; Flatbush Avenue, from $250,625 to $291,200; Grand Street, from $75,748 to $85,375; 125th Street, from $275,000 to $525,000; White Plains Road, from $67,700 to $90,000; Washington Heights, from $211,700 to $311,700; 14th Street-Union Square, from $915,000 to $1,189,500; Lincoln Square, from $1,000,000 to $1,665,000; Montague Street, from $108,000 to $124,500; and Brighton Beach, from $150,000 to $160,000. Whereas, pursuant to Section 25-410(b) of the BID Law, the City Council is required to give notice of the public hearing by publication of a notice in at least one newspaper having general circulation in the districts specifying the time when and the place where the hearing will be held and stating the proposed amount to be expended annually; now, therefore, be it Resolved, that the Council of the City of New York, pursuant to Section 25-410(b) of the BID Law hereby directs that: (i) September 12, 2002 is the date and the City Council Committee Room, 2nd floor, City Hall, is the place and 10:00 a.m. is the time for a public hearing (the "Public Hearing") to hear all persons interested in the legislation that would assess the amount to be expended annually in the twenty (20) Business Improvement Districts; and (ii) On behalf of the City Council and pursuant to Section 25-410(b) of the BID Law, the District Management Associations of the Metrotech Area, the Times Square, the 34th Street, the Myrtle Avenue, the Graham Avenue, the 82nd Street, the Grand Central, the Church Avenue, the Fifth Avenue, the Fashion Center, the Hub Third Avenue, the Flatbush Avenue, the Grand Street, the 125th Street, the White Plains Road, the Washington Heights, the 14th Street-Union Square, the Lincoln Square, the Montague Street, and the Brighton Beach Business Improvement Districts are hereby authorized to publish in a newspaper of general circulation in each district, not less than ten (10) days prior to the Public Hearing, a notice stating the time and place of the Public Hearing and setting forth the increase in the amount to be expended annually in each of the twenty (20) Business Improvement Districts. ??