BUDGET

REQUESTED SPECIAL ASSESSMENT FOR FISCAL YEAR 1995-1996

The 14th Street-Union Square Business Improvement District requests that the City Council levy a special assessment of $794,000 on the properties within its boundaries for the 1995-1996 Fiscal Year. This will be the fifth year in which the special assessment has remained constant.

Below are the Fiscal Year 1995 operating statement and the proposed Fiscal Year 1996 budget.

Operating Statement
Fiscal Year 1995 (July 1, 1994-June 30, 1995)

<table><thead><tr><th></th><th>7/1/94-2/28/95<br>Actual</th><th>3/1/95-6/30/95<br>Projected</th><th>Year End<br>Projected</th><th>FY95 Budget<br>Adopted</th></tr></thead><tbody><tr><td><strong>INCOME</strong></td><td></td><td></td><td></td><td></td></tr><tr><td>BID Assessment</td><td>$610,261</td><td>$183,739</td><td>$794,000</td><td>$794,000</td></tr><tr><td>Other Revenues</td><td>19,423</td><td>$3,577</td><td>$23,000</td><td>$23,000</td></tr><tr><td>Use of Reserves</td><td>$0</td><td>$195,269</td><td>$195,269</td><td>$97,849</td></tr><tr><td><strong>TOTAL INCOME</strong></td><td><strong>$629,684</strong></td><td><strong>$382,585</strong></td><td><strong>$1,012,269</strong></td><td><strong>$914,849</strong></td></tr><tr><td><strong>LESS: PROJECT EXPENSES</strong></td><td></td><td></td><td></td><td></td></tr><tr><td><strong>Sanitation</strong></td><td></td><td></td><td></td><td></td></tr><tr><td>Salaries</td><td>$15,813</td><td>$8,687</td><td>$24,500</td><td>$24,500</td></tr><tr><td>Payroll Taxes & Benefits</td><td>$2,799</td><td>$2,161</td><td>$4,960</td><td>$4,960</td></tr><tr><td>Sanitation Contract</td><td>$239,116</td><td>$119,558</td><td>$358,674</td><td>$358,674</td></tr><tr><td>Storefront Rent</td><td>$4,800</td><td>$2,400</td><td>$7,200</td><td>$7,200</td></tr><tr><td>Storefront Utilities/Maintenance</td><td>$1,037</td><td>$663</td><td>$1,700</td><td>$1,700</td></tr><tr><td>Supplies, Equipment, Misc.</td><td>$2,256</td><td>$1,618</td><td>$3,874</td><td>$3,874</td></tr><tr><td>Summer Jobs Program</td><td>$2,202</td><td>$0</td><td>$2,202</td><td>$2,500</td></tr><tr><td>Graffiti Removal Program</td><td>$26,956</td><td>$8,044</td><td>$35,000</td><td>$35,000</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$294,979</strong></td><td><strong>$143,131</strong></td><td><strong>$438,110</strong></td><td><strong>$438,408</strong></td></tr><tr><td><strong>Public Safety</strong></td><td></td><td></td><td></td><td></td></tr><tr><td>Salaries</td><td>$15,813</td><td>$8,687</td><td>$24,500</td><td>$24,500</td></tr><tr><td>Payroll Taxes & Benefits</td><td>$2,799</td><td>$2,161</td><td>$4,960</td><td>$4,960</td></tr><tr><td>Security Contract</td><td>$156,674</td><td>$91,250</td><td>$247,924</td><td>$247,924</td></tr><tr><td>Storefront Rent</td><td>$4,800</td><td>$2,400</td><td>$7,200</td><td>$7,200</td></tr><tr><td>Storefront Utilities/Maintenance</td><td>$1,704</td><td>$596</td><td>$2,300</td><td>$2,300</td></tr><tr><td>Printing/Publications</td><td>$1,889</td><td>$611</td><td>$2,500</td><td>$2,500</td></tr><tr><td>Supplies, Equipment, Misc.</td><td>$3,069</td><td>$2,405</td><td>$5,474</td><td>$5,474</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$186,748</strong></td><td><strong>$108,110</strong></td><td><strong>$294,858</strong></td><td><strong>$294,858</strong></td></tr><tr><td><strong>Promotions/Marketing</strong></td><td><strong>$7,895</strong></td><td><strong>$11,105</strong></td><td><strong>$19,000</strong></td><td><strong>$19,000</strong></td></tr><tr><td><strong>New Initiatives</strong></td><td></td><td></td><td></td><td></td></tr><tr><td>Retail Analysis</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Additional Security Officers</td><td>$17,738</td><td>$22,262</td><td>$40,000</td><td>—</td></tr><tr><td>Pedestrian Lighting Program</td><td>—</td><td>$20,800</td><td>$20,800</td><td>—</td></tr><tr><td>Communications Upgrade</td><td>—</td><td>$12,000</td><td>$12,000</td><td>—</td></tr><tr><td>Union Square Park Design Study</td><td>—</td><td>$25,000</td><td>$25,000</td><td>—</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$17,738</strong></td><td><strong>$80,062</strong></td><td><strong>$97,800</strong></td><td><strong>$0</strong></td></tr><tr><td><strong>TOTAL PROJECT EXPENSES</strong></td><td><strong>$507,360</strong></td><td><strong>$342,408</strong></td><td><strong>$849,768</strong></td><td><strong>$752,266</strong></td></tr><tr><td><strong>Administrative Expenses</strong></td><td></td><td></td><td></td><td></td></tr><tr><td>Salaries</td><td>$67,859</td><td>$38,346</td><td>$102,815</td><td>$103,500</td></tr><tr><td>Payroll Taxes and Health Insurance</td><td>$12,021</td><td>$9,262</td><td>$21,283</td><td>$21,283</td></tr><tr><td>Part-time Workers/Consultants</td><td>$8,103</td><td>$3,500</td><td>$11,603</td><td>$10,000</td></tr><tr><td>Insurance</td><td>$3,890</td><td>$610</td><td>$4,500</td><td>$4,500</td></tr><tr><td>Supplies/Equipment</td><td>$3,359</td><td>$1,941</td><td>$5,300</td><td>$5,300</td></tr><tr><td>Printing/Postage</td><td>$1,696</td><td>$2,304</td><td>$4,000</td><td>$5,000</td></tr><tr><td>Meetings/Travel</td><td>$1,420</td><td>$2,580</td><td>$4,000</td><td>$4,000</td></tr><tr><td>Audit/Legal Fees</td><td>$6,705</td><td>$795</td><td>$7,500</td><td>$7,500</td></tr><tr><td>Miscellaneous</td><td>$914</td><td>$586</td><td>$1,500</td><td>$1,500</td></tr><tr><td><strong>TOTAL ADMIN. EXPENSES</strong></td><td><strong>$105,967</strong></td><td><strong>$59,924</strong></td><td><strong>$162,501</strong></td><td><strong>$162,583</strong></td></tr><tr><td><strong>TOTAL EXPENSES</strong></td><td><strong>$613,327</strong></td><td><strong>$402,332</strong></td><td><strong>$1,012,269</strong></td><td><strong>$914,849</strong></td></tr></tbody></table>

Budget Proposal
Fiscal Year 1996 (July 1, 1995-June 30, 1996)

<table><thead><tr><th></th><th>Fiscal Year 1996<br>As Proposed</th></tr></thead><tbody><tr><td><strong>INCOME</strong></td><td></td></tr><tr><td>BID Assessment</td><td>$794,000</td></tr><tr><td>Other Revenues</td><td>$19,000</td></tr><tr><td>Use of Reserves</td><td>$206,960</td></tr><tr><td><strong>TOTAL INCOME</strong></td><td><strong>$1,019,960</strong></td></tr><tr><td><strong>LESS: PROJECT EXPENSES</strong></td><td></td></tr><tr><td><strong>Sanitation</strong></td><td></td></tr><tr><td>Salaries</td><td>$26,215</td></tr><tr><td>Payroll Taxes & Benefits</td><td>$5,300</td></tr><tr><td>Sanitation Contract</td><td>$328,068</td></tr><tr><td>Storefront Rent</td><td>$7,200</td></tr><tr><td>Storefront Utilities/Maintenance</td><td>$1,895</td></tr><tr><td>Supplies, Equipment, Misc.</td><td>$4,250</td></tr><tr><td>Summer Jobs Program</td><td>$5,000</td></tr><tr><td>Graffiti Removal Program</td><td>$35,000</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$412,928</strong></td></tr><tr><td><strong>Public Safety</strong></td><td></td></tr><tr><td>Salaries</td><td>$26,215</td></tr><tr><td>Payroll Taxes & Benefits</td><td>$5,300</td></tr><tr><td>Security Contract</td><td>$260,320</td></tr><tr><td>Storefront Rent</td><td>$7,200</td></tr><tr><td>Storefront Utilities/Maintenance</td><td>$2,550</td></tr><tr><td>Printing Publications</td><td>$2,750</td></tr><tr><td>Supplies, Equipment, Misc.</td><td>$5,500</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$309,835</strong></td></tr><tr><td><strong>Promotions/Marketing</strong></td><td><strong>$35,000</strong></td></tr><tr><td><strong>New Initiatives</strong></td><td></td></tr><tr><td>Retail Analysis</td><td>—</td></tr><tr><td>Additional Security Officers</td><td>—</td></tr><tr><td>Pedestrian Lighting</td><td>$2,400</td></tr><tr><td>Communications Upgrade</td><td>—</td></tr><tr><td>Union Square Park Design Study</td><td>—</td></tr><tr><td>Union Square Park Gardener</td><td>$10,000</td></tr><tr><td>New Projects/Miscellaneous</td><td>$73,000</td></tr><tr><td><strong>Subtotal</strong></td><td><strong>$85,400</strong></td></tr><tr><td><strong>TOTAL PROJECT EXPENSES</strong></td><td><strong>$843,163</strong></td></tr><tr><td><strong>Administrative Expenses</strong></td><td></td></tr><tr><td>Salaries</td><td>$110,478</td></tr><tr><td>Payroll Taxes and Health Insurance</td><td>$22,819</td></tr><tr><td>Part-time Workers/Consultants</td><td>$15,000</td></tr><tr><td>Insurance</td><td>$4,500</td></tr><tr><td>Supplies/Equipment</td><td>$5,500</td></tr><tr><td>Printing/Postage</td><td>$4,500</td></tr><tr><td>Meetings/Travel</td><td>$4,500</td></tr><tr><td>Audit/Legal Fees</td><td>$8,000</td></tr><tr><td>Miscellaneous</td><td>$1,500</td></tr><tr><td><strong>TOTAL ADMIN. EXPENSES</strong></td><td><strong>$176,797</strong></td></tr><tr><td><strong>TOTAL EXPENSES</strong></td><td><strong>$1,019,960</strong></td></tr></tbody></table>

BUDGET

BOUNDARIES

The BID incorporates the 148 properties on both sides of 14th Street from the west corners of 1st Avenue to the east corners of 6th Avenue, in addition to the properties facing Union Square Park. Rental, cooperative, and condominium buildings are found throughout the district along with major institutions, large employers, and New York's most unique mix of shopping.

14th Street is the longest cross-town street in all of Manhattan and borders six neighborhoods: Chelsea, Gramercy, Greenwich Village, the East Village, Stuyvesant Town, and Union Square. This brings a diverse group of people into the BID district and also results in 14th Street being served by:

Five community boards (#2, 3, 4, 5, 6)
Five sanitation districts (#2, 3, 4, 5, 6)
Four police precincts (#6, 9, 10, 13)
Four State Senate districts (#25, 26, 27, 30)
Three Congressional districts (#8, 12, 14)
Three Assembly districts (#63, 66, 67)
Three City Council districts (#2, 3, 4)