N.Y.C. Admin. Code § 25-463.1: § 25-463.1 Madison / 23rd / Flatiron / Chelsea business improvement district.

a. The city council having determined, pursuant to subdivision b of section 25-410, that it is in the public interest to authorize an increase in the amount to be expended annually in the Madison/23rd/Flatiron/Chelsea business improvement district beginning on July 1, 2025, and the council having determined further that the tax and debt limits prescribed in section 25-412 will not be exceeded by such increased expenditure, there is hereby authorized in such district an annual expenditure of $9,000,000.

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 Madison/23rd/Flatiron/Chelsea business improvement district plan.