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As part of his ongoing effort to promote local economic development, Mayor Bloomberg announced the formation of a Myrtle Avenue Business Improvement District last week. The Brooklyn strip, which stretches from Flatbush Avenue Extension to Classon Avenue, will encompass roughly 130 private property owners and 160 businesses. The BID will collect fees from local businesses to provide supplementary services like sanitation, marketing, and little flourishes like holiday lighting to make the area more consumer-friendly. The Myrtle Avenue BID will operate on a budget of $250,000 per year. New York’s 47 BIDs currently bring $77 million in services to the city annually. [11/22/04]
