TO: Registered Members of the Southern Boulevard Business Improvement District
FROM: Miles Burnett, Executive Director
RE: Annual Meeting of Membership
DATE: February 22, 2022, 9:00am-10:00am
If you are a registered member of the Southern Boulevard Business Improvement District. This memorandum serves as notice for the 2021 Annual Meeting of Membership. The Annual Meeting will be held on Tuesday, February 22nd, 2022 at 9AM on Zoom conference call. Please RSVP for this conference call meeting ( CLICK HERE TO RSVP ) During the meeting we will fill vacant Board positions, review the organization’s financials, and vote on the annual budget. Additionally, we will hear about new developments in the area which positively impact your business and/or property.
As you know the Southern Boulevard Business Improvement District (SoBo BID), established in 2007, promotes the growth, vitality and visibility of the premiere shopping destination in the Hunts Point section of the South Bronx. Organizational programs include real estate advisory and retail services, supplemental sanitation and security departments that augment the city’s own services, small business development services, streetscape and open space improvements, horticulture installations, robust public programming, event planning, and visitor services.
The Southern Boulevard Business Improvement District is a 501(c)3 public-private partnership governed by a Board of Directors and derives the majority of its revenue from an annual assessment on all real property located within the boundaries of the BID. Members of the BID include property owners, businesses, restaurants, retailers, cultural and non-profit institutions, public officials and residents.
FY 2022 Budget and Financial Plan
In preparing the FY 2022 budget, the Southern Boulevard Business Improvement District provided a financial plan in order to account for projected increases in expenses caused by an increase in the minimum wage, renegotiation of Public Safety and Sanitation, homelessness and loitering programs, and enhanced real estate and business development services to combat the vacancy and non-compliant vendor challenges confronting the community. This plan was provided in order to prevent a request for an increase in property assessments.
The assessment budget for the 2022 fiscal year stands at $200,000. In addition, the BID has received a Discretionary Grant award from the New York City Council for $13,000, and commitments from private and community institutions for supplemental funds.
Board of Directors Nominations
We will also be voting on nominees, all of whom will have been approved by the Governance and Nominating Committee. Nominations for the Board of Directors will be taken until the week prior to the Annual Meeting.
Absentee ballots will be available for members that are unable to attend the Annual Meeting.
Should you wish to nominate any other members for Class A – Property Owner or Class B – Merchant please do so by February 15, 2022 by mailing the nomination to the BID office at 1029 East 163rd Street, Bronx, NY 10459 or via email to miles@sobobid.org.
Should you have any questions, please contact the BID office directly by emailing, miles@sobobid.org or calling 646-785-5315.