By DESIREE JACKSON
A City Council committee voted Tuesday to increase the annual budget of the Fordham Road Business Improvement District in the Bronx by $45,000.
The vote — raising annual funds from $625 to $670,000 — would allow expanding the Fordham Road BID from Third Avenue to Washington Avenue, attracting many high-end retail stores to the ground floor of One Fordham Road Plaza.
The BID, now sited between Community Boards 5,6 and 7, would place two additional tax lots into the remainder of Community Board 6. One of the lots would serve as a public plaza and MTA transportation site and the other lot will would provide the shopping center that was expected to cater to the 80,000 daily visitors, committee members said.
The action was taken by the Committee on Finance.
Bronx Councilman Ritchie Torres voiced his support saying that “the expansion will be good for the Bronx and it is a culminating movement in reviving Fordham Road.”
The expansion of the BID was said to be beneficial to local business owners in the area as the influx of visitors will increase, supporters added.
However, the legislation for the budget increase would not go into effect until after a 30-day objection period that allows property owneres to object the bill.