Economic Development
Mosholu Preservation Corporation plays a crucial role in supporting commercial activity in Norwood and neighboring communities. MPC strives to create a thriving, successful business zone for residents and customers alike. In 1997, MPC created the Jerome-Gun Hill Business Improvement District (BID) to oversee the commercial development of Norwood. The Jerome-Gun Hill BID is financially backed by Montefiore Medical Center through MPC. Montefiore relies on the stability of its immediate commercial sector to bolster the residential community. However, to truly understand the commercial businesses, MPC also works extensively with smaller merchant associations covering more targeted areas. The two most active merchant associations are that of Bainbridge Avenue/ 207th Street M.A. and Kingsbridge Avenue. Jerome Hill BID covers the area between Mosholu Parkway and East Gun Hill Road, as well as Jerome and Webster Avenues. The other primarily commercial avenues (Bainbridge, Kingsbridge, Perry, DeKalb) fall under smaller merchant associations. These smaller associations receive much of their funding for development through the Jerome-Gun Hill BID.
Smaller Merchant Associations
The Jerome Hill BID has since established a ‘Façade Improvement’ fund which allocated grants to small business owners. These grants, up to $4,000, allow store owners to renovate their store front through the installation of new gates, canopies, and brighter lighting. A separate grant of $2,500 can also be attained for the setup of an integrated security system. Revitalized store fronts coupled with state of the art security improves the individual’s business as well as the entire commercial district.
Smaller Merchant Associations
The Mosholu Preservation Corporation is strategically and financially involved in many of Norwood’s organizations and associations. MPC funds various community programs such as the youth afterschool programs at P.S.94 and Internet competency courses offered at the Mosholu Montefiore Community Center. MPC’s economic contributions on behalf of Montefiore is undoubtedly a key factor into the stability of Norwood’s residential and commercial environment.
Resources:
http://www.mpcbronx.org/ecodev_history.html
