Fate Of Tenafly’s BID – Business Improvement District – To Be Decided

Downtown Tenafly

Tenafly’s council will postpone deciding the fate of BID until later in March when they will meet with Downtown New Jersey.

Downtown New Jersey is the organization of individuals, businesses, government agencies, and local and regional organizations that are passionate about downtowns.  Downtown  New Jersey is a resource dedicated to ensuring the vitality of our downtowns.

While officials wait for more input on what to do with the downtown, the BID continues to come under fire for not connecting with business owners, failing to bring in new merchants and misusing funds.

Business Improvement District (BID) was created as a result of  a growing awareness that commerce in Tenafly does not function as well as it could; that we do not draw the number or variety of shoppers that we should; and that the quality of the shopping and dining experience in Tenafly is not as appealing as it could be for residents or for visitors to our community. In 2006 the Tenafly Chamber of Commerce approached the Tenafly Business Development Committee with the idea of asking the Mayor and Council for a budget to explore the feasibility of an Improvement District. The Borough was awarded a BID Challenge Grant in the amount of $10,000 and the Council approved $10,000 in the 2007 budget to investigate the feasibility of a business improvement district in Tenafly which was later established in 2008

After meeting with Downtown New Jersey this month, officials are slated to discuss the BID’s fate at its March 24 meeting.

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