Message from the Chairman and President of East Midtown Association

Dear Friends and Neighbors:

For the past five and a half years, the East Midtown Association has endeavored to deliver high-quality programs and services to our community at a minimal cost, serving a 48-block district on an unchanged budget of $1.65 Million. While geographically our district is the third-largest Business Improvement District in the city, our annual assessment revenues rank tenth.

Since the EMA was specifically charged with doing more with less, this disparity was not a concern in our early, formative years. However, over the past fifteen months – as our organization has matured and we have had an opportunity to better assess the needs and desires of our constituents – we came to the conclusion that the long-term financial structure of the EMA must be addressed in order to maximize our effectiveness.

To that end, a task force consisting of four members of the Board of Directors was created and charged with three responsibilities: (1) to examine at the long-term fiscal effects of existing programs, services, and maintenance; (2) to review additional needs of the district through new or expanded programming; and (3) to determine an appropriate budget to meet the cumulative needs of the East Midtown Association well into the next decade.

Based on detailed projections through Fiscal Year 2016, the task force determined that an annual assessment budget of $2.2 Million would meet the long-term needs of the East Midtown Association. The Board of Directors unanimously approved the proposal in February, 2007, and formally voted in April to increase the budget effective in Fiscal Year 2008, conditional on approval from City Council and the Mayor later in the year. In the meantime, we have launched an aggressive outreach effort to inform our property owners and commercial businesses about the proposal well in advance of formal city approval.

The new budget will allow the EMA to meet the inflationary needs of core operations, while introducing a host of streetscape improvements and enhanced beautification and marketing efforts; however, it will also mandate that the organization remain frugal and budget carefully. While we believe that the financial impact on district businesses will be minimal – at a new rate of approximately eight cents per square foot of commercial space, we would still be assessing at roughly half the rate of comparable Business Improvement Districts – we are confident that the $2.2 Million budget will allow us to meet the needs of our constituents… now, and for years to come.

We look forward to seeing some of our exciting ideas come to fruition over the next few years. And, as always, we welcome and encourage your input and assistance as we work together to build a better city and celebrate East Midtown:“Where New York Gets Its Style.”