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FOR IMMEDIATE RELEASE
February 25, 2025
SBS OPENS APPLICATIONS FOR GRANTS TO PROMOTE COMMERCIAL CORRIDOR, NEIGHBORHOOD REVITALIZATION PROJECTS
$5.3 Million in New Funding to Support Local Nonprofits, Business Improvement Districts
New Round of Grants Culminates in Historic $40 Million Total Investment in Neighborhoods Since Start of Administration
NEW YORK – Today, New York City First Deputy Mayor Maria Torres-Springer and New York City Department of Small Business Services (SBS) Commissioner Dynishal Gross announced the opening of applications for Merchant Organizing, Business Improvement District (BID) Formation, and Small BID Support grants as part of an additional $5.3 million funding baselined in the Preliminary Budget. With the inclusion of this round of grants, the Adams administration brings the total investments in BIDs and Community-Based Development Organizations (CBDOs) to more than $40 million since January 2022.
The announcement was made at an event at Bryan Park along Fordham Road in the Bronx. First Deputy Mayor Maria Torres-Springer and SBS Commissioner Dynishal Gross were joined by New York City Council Member and chair of the City Council Committee on Small Business Oswald Feliz, Bronx Chamber of Commerce President Lisa Sorin, and representatives from BIDs across the Bronx, including: Belmont, Fordham Road, Castle Hill, Southern Boulevard, the Hub-Third Avenue, and the White Plains Road. Since 2022, Bronx-based BIDs, merchants organizations, and CBDOs have received more than $5 million in neighborhood development grants.
"Each year, this administration continues to deepen its investments into the bedrocks of our communities – our small businesses," said First Deputy Mayor Maria Torres-Springer. "With these now baselined grant monies, we are doubling down on our commitment to supporting the organizations that work day in and day out to strengthen our neighborhoods and commercial corridors for the people and small businesses that call them home."
"The prosperity of New York City relies on the success of its vibrant commercial corridors and the diverse small businesses within," said SBS Commissioner Dynishal Gross. "By putting money into the hands of the people and organizations who know their communities best, we are ensuring that our investments in neighborhood development make the biggest impact possible on the health of our city's economy."
Merchant Organizing Grants
Merchant Organizing Grants will fund nonprofit organizations to support commercial corridors and merchants associations across New York City. Applicants for this grant must include proposals for projects and services that aim to form new or reactivate existing merchants associations in a specific neighborhood.
Eligible nonprofit organizations can apply online for grants of up to $100,000. Applications must be submitted no later than Sunday, April 20, 2025, at 11:59 p.m.
Business Improvement District (BID) Formation Grants
BID Formation Grants are available to BIDs, CBDOs, and other neighborhood-based organizations that have already established formal BID formation steering committees. Applicants for these grants must have already completed and analyzed a needs assessment survey. Grants can be used for staffing, planning, and the implementation of BID formation or expansion plans.
Eligible organizations can apply online for grants of up to $100,000. Applications must be submitted no later than Sunday, March 30, 2025, at 11:59 p.m.
Small Business Improvement District (BID) Support Grants
Small BID Support Grants support existing BIDs with a) annual assessments of $600,000 or less, or b) annual assessments of $1 million or less, and located in low- to moderate-income (LMI) neighborhoods. Small BID Support Grants can be used for staffing, planning, and commercial corridor revitalization projects.
Eligible BIDs can apply online for grants of up to $100,000. Applications must be submitted no later than Sunday, March 30, at 11:59 p.m.
"Business Improvement Districts are our city's public realm avengers, working day in and day out to improve, maintain, and activate the public spaces in their communities," said Chief Public Realm Officer Ya-Ting Liu. "This type of investment will empower BIDs and will help develop the BIDs of the future. I look forward to continued partnership with SBS and BIDs citywide to invest in and support public spaces citywide."
This latest round of grants brings the total investment in neighborhood development and commercial corridor revitalization to $40 million since the start of the Adams administration, and follows plans laid out in Mayor Adams's Rebuild, Renew, Reinvent Blueprint for New York City's Economic Recovery and the "New" New York Plan. These grants will further build on the successful recovery and growth of small businesses in New York City and will bolster the city's record number of private-sector jobs and record-high labor force participation rate, more than 4.1 million and 62.8 percent respectively.
"Investing in our local commercial corridors is investing in the future of our communities," said New York State Assembly Member George Alvarez. "I commend SBS for their commitment to neighborhood development, which will provide critical support to small businesses and merchants across the Bronx. These grants and revitalization initiatives will create lasting economic opportunities, ensuring that our commercial districts thrive for years to come. I look forward to working alongside our partners to continue strengthening our local economy and uplifting small businesses."
"The funds now available for commercial corridor revitalization, merchant organizing, and BID formation are a game-changer for small businesses and the neighborhoods they anchor," said New York State Assembly Member Yudelka Tapia. "Business Improvement Districts play a crucial role in fostering economic vitality, enhancing public spaces, and providing critical support to local entrepreneurs. With SBS leading the charge in ensuring these investments are strategically deployed, our communities will see stronger, more resilient commercial corridors that drive long-term growth. We commend SBS for their unwavering commitment to empowering small businesses and strengthening the BID ecosystem across the city."
"I applaud today's announcement by the administration to continue helping small businesses with these crucial investments in merchant organizing and BID support," said New York City Council Member Oswald Feliz. "Small businesses are the backbone of our city, and these grant programs will help them continue to thrive. I thank Commissioner Gross, First Deputy Mayor Torres-Springer and the administration for their continued commitment to revitalizing our local commercial corridors."
"BIDs and merchants associations are essential to the vibrancy of our commercial corridors — the heartbeat of our communities — through their beautification and revitalization efforts," said New York City Council Member Pierina Sanchez. "With $5.3 million to expand BID and commercial corridor support grants, I am hopeful the BIDs and merchants associations in my district — including the Burnside Jerome Tremont Merchant Association, Fordham Road BID, and Kingsbridge Road Merchants Association — will receive much needed support to strengthen their small business members, cultural and educational institutions, and keep our streets cleaner and safer."
"The NYC BID Association is grateful to First Deputy Mayor Torres-Springer, Commissioner Gross, and the Department of Small Business Services for continuing to prioritize economic growth and commercial revitalization in neighborhoods across New York City," said Robert Benfatto and Erin Piscopink, Co-Presidents, NYC BID Association. "We are particularly excited about the proposal to baseline $5.3 million to support small BIDs with limited budgets, and to form and expand BIDs in areas of the city that can most benefit from the services BIDs provide. BIDs are proud to be active partners with SBS, our communities, and the small business community."
"Over the last few years, the Fordham Road BID has made the public realm – the urban environment in and around our more than 300 businesses – a key focal point as we strive to enhance our neighborhood surroundings for the millions of New Yorkers and visitors to Fordham Road each year," said Albert Dalipi, Deputy Director, Fordham Road BID. "We are grateful to Mayor Adams, the Department of Small Business Services, and the whole administration for recognizing Fordham Road as a critically important conduit for our community. As a recipient of a Public Realm Grant last year, the BID can reimagine the streetscape to create public murals that reflect the vibrant culture of our corridor."
"The Belmont Business Improvement District thanks the mayor, the administration, the Department of Small Business Services, Bronx Borough President Gibson, and Council Member Feliz for their ongoing support of small BIDs and recognizing the value they bring to their local communities," said Peter Madonia, Chairman, Belmont BID. "We have been a proud recipient of the Small BID Support Grant for the past three years, providing crucial funds for the enhancement of the Bronx Little Italy neighborhood, the preservation of its strong Italian heritage, and the promotion of its small family-owned businesses, several of which have been in operation for over 100 years."
About the NYC Department of Small Business Services (SBS)
SBS helps unlock economic potential and create economic security for all New Yorkers by connecting New Yorkers to good jobs, creating stronger businesses, and building vibrant neighborhoods across the five boroughs. For more information on all SBS services, go to nyc.gov/sbs, call 888-SBS-4NYC, and follow us on Facebook, Twitter, Instagram, and LinkedIn.