As it completes six years of operation, the BID has facilitated $150 million in private development on Main Street. Its major accomplishments have come through its technical assistance, development initiatives and financial programs. Property or business owners or prospective owners may avail themselves of any or all of these opportunities.
In July 2006 the BID constructed a Downtown WiFi network, bringing free wireless internet access to people in stores, offices and wide open spaces. The New Rochelle BID was the first to established WiFi in Westchester County and the Hudson valley. (more)
 One of the BID's most popular programs is the Downtown Clean Streets Program, run in partnership with the City of New Rochelle. The BID Clean Streets team keeps sidewalks and parking facilities free of litter seven days a week. The BID also handles fall leaf removal, snow removal at crosswalks, landscaping maintenance and sidewalk power washing.
The BID maintains an ongoing public relations campaign. As a result Downtown development and activities have received coverage in the local, regional and national media, including the New York Times and WABC’s Eyewitness News. Through these promotional activities Downtown has developed an exciting new image that breeds continued success.
The BID works with the owners of large vacant and underutilized properties to plan and implement a development program to bring these properties back into productive use. This program has initiated more than $125 million in new development privately financed and paying full real estate taxes. A top priority of the BID is to identify privately-owned properties with vacant or underutilized space, help the owners assess the properties’ development potential and then work to achieve this potential.
The BID offers long-term financing for large and small Downtown development projects. It established its own Development Loan Program in conjunction with the Community Preservation Corporation (CPC), a private mortgage lender representing more than eight banks and insurance companies. The program is a source of more than $75 million in construction and permanent financing, entirely dedicated to projects within the BID. Its purpose is to help owners reinvest in their properties and to enable businesses to buy downtown buildings.
The BID provides technical assistance to building owners wishing to expand their properties or redevelop vacant space in their buildings. The BID undertakes feasibility studies providing professional analysis focusing on development and cost issues confronting individual buildings and limiting an owners ability to move forward with a rehabilitation progam for their buildings. This program is a perfect partner with the BID Development Loan Program.
 The BID helps owners wishing to rehabilitate their historic facades. This includes helping address code enforcement issues and existing building violations. All façade work is undertaken pursuant to the BID Facade Renovation Guidelines which outlines specifications for storefront improvements in order to facilitate good design and compatibility between buildings. The BID also offers economic assistance and incentives for property owners in targeted areas within the BID. For before and after samples click here.
- BID Matching Grants for Facade Improvement
In target areas, the BID arranges for matching grants to building owners who have completed facade improvements according to the BID’s Facade Renovation Guidelines. The BID expects to assist in the renovation of more than twenty storefronts over the next eighteen months.
- BID Low Interest Facade Improvement Loans
Throughout downtown, the BID, with the support of the Community Preservation Corporation, has established a unique Facade Second Mortgage Program. The program offers second mortgages to property owners who agree to improve their building facades in keeping with the BID Facade Renovation Design Guidelines. Loans are available for terms of up to ten years with minimal application costs and an interest rate as low as 3% for approved applicants.
A BID Retail Advisory Committee was established in 2004 under the co-chairmanship of Maryce Cohen of I.B. Cohen & Sons, Inc. and Louis Vaccaro of The Curtain Shop. The Committee advises the BID on matters such as special events, sidewalk sales, parking needs and networking opportunities.
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