Last fall we attended a public hearing called by State Senator Daniel Squadron on preserving and revitalizing retail in urban neighborhoods. The Senate Committee on Cities heard testimony from business owners and other local stakeholders, including Zarin Fabrics President David Zarin and Community Board 3’s Susan Stetzer. Squadron no longer chairs the committee, but along with current chair Shirley Huntley, he has released a report on that hearing.
Among their conclusions: city and state government should consider tax breaks for property owners who accommodate small businesses and who keep their rents reasonable. Also – they call on local officials to consider so-called “formula zoning” to encourage more retail diversity in neighborhoods like the Lower East Side. You can download the full report here.