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Article: Giuliani's tentacles pinch bid: new rules signal displeasure with Grand Central. (Major Rudy Giuliani of New York City on the Grand Central Partnership, Grand Central property improvement)
- Article from:
- Crain's New York Business
- Article date:
- April 27, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New rules signal displeasure with Grand Central
Mayor Rudy Giuliani and the Grand Central Partnership, the city's biggest and most powerful business improvement district, appear to be on a collision course.
The mayor is refusing to approve a 3.9% budget increase the BID has requested that would boost assessments on Grand Central property owners by $398,000.
At the same time, the administration is considering imposing severe restrictions on the BID as a condition for renewing its contract with the city.
Among the proposals under discussion are: extending the BID's contract for one year instead of the customary five years, forcing BID President ...