Flatiron NoMad Partnership Proposes Assessment Increase: A Letter from President James Mettham

Dear Flatiron NoMad Stakeholders: 

On April 9, 2024, the Board of Directors of the Flatiron NoMad Partnership Business Improvement District (BID) held its full board meeting and voted to approve a multi-year phased increase to our assessment budget.  

The proposed BID assessment increase would increase the current $6 million annual assessment budget cap to a maximum of $9 million. This assessment budget increase is proposed to be phased-in over a multi-year period beginning in July 2025 (the start of Fiscal Year 2026). Over the course of this multi-year budget adjustment, the assessment rate on benefited properties within the BID district may increase from approximately 17 cents per commercial square foot to 25 cents per commercial square foot. The assessment of most residential spaces in the BID will remain the same – $1 per residential tax lot. 

This increase requires legislative approval of the New York City Council. The City Council Finance Committee will hold a public hearing in consideration of this and other Business Improvement Districts’ assessment increases on December 19th at 10:30AM. The hearing will be held in the City Council Committee Room, 2nd Floor, City Hall, Manhattan.  

The Flatiron NoMad Partnership currently has one of the lowest assessment rates of all Manhattan BIDs. In 2022, the BID expanded its boundaries, nearly doubling its service area across the Flatiron and NoMad neighborhoods in Midtown South. Since this expansion, the BID has provided supplemental cleaning, safety, and beautification services along with districtwide programs, promotions, and advocacy for over one hundred block-faces, benefiting thousands of businesses, workers, residents, visitors, and properties alike. The BID has undertaken this enlarged responsibility while maintaining the same BID assessment rate over the past five years. The proposed increase would be the third increase for the BID since its inception in 2006. While we continue to operate as efficiently as possible, rising operating expenses coupled with new maintenance responsibilities and public improvement projects compel us to consider this assessment increase to maintain the highest level of supplemental BID services, which has proven to be so vital to the success of our evolving district.  

We realize that any increase in billing is significant. Our organization believes that it is more important than ever to sustain a cleaner, safer, and more vibrant district to ensure the stability and growth of the BID in the years to come. We are grateful for the leadership, vision, and dedication of so many of you in working with our Partnership toward the continued improvement of Manhattan’s most iconic and authentic neighborhood. 

Sincerely,

James Mettham
President
Flatiron NoMad Partnership