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What is NYC AC § 25-455.1?

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This section authorizes an annual expenditure of $458,800 for the Columbus Avenue business improvement district, as determined by the city council. The expenditure amount levied on each property in the district will be based on the assessment method outlined in the district plan. Applies to property owners within the Columbus Avenue business improvement district.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 25-455.1 Columbus Avenue business improvement district.

AC § 25-455.1

a. The city council having determined, pursuant to subdivision b of section 25-410 of chapter four of this title, that it is in the public interest to authorize an increase in the amount to be expended annually in the Columbus Avenue business improvement district beginning on July 1, 2015, and the council having determined further that the tax and debt limits prescribed in section 25-412 of chapter four of this title will not be exceeded by such increased expenditure, there is hereby authorized in such district an annual expenditure of four hundred fifty-eight thousand eight hundred dollars ($458,800). b. The amount of such expenditure to be levied upon each property in the district shall be determined in accordance with the method of assessment set forth in the Columbus Avenue business improvement district plan. (Am. L.L. 2016/017, 2/8/2016, retro. eff. 7/1/2015)

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