Proposed Res. No. 809-A Title Resolution concerning the increase in the annual expenditure for the Metrotech Area Business Improvement District, and the setting of the time and place for the hearing of the local law increasing the annual expenditure for such district. Body By Council Member Weprin, Comrie, Davis, Fidler 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 (the "BID Law"), the City established the Metrotech Area Business Improvement District in the City of New York; 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 Metrotech Area Business Improvement District wishes to increase the amount to be expended annually beginning on July 1, 2002 to $2,475,936. 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 district 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) May 28, 2003 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, which would increase the amount to be expended annually in the Metrotech Area Business Improvement District; and (ii) On behalf of the City Council and pursuant to Section 25-410(b) of the BID Law, the District Management Association of the Metrotech Area Business Improvement District is hereby authorized to publish in a newspaper of general circulation in the 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 the Metrotech Area Business Improvement District. ??