This is rad. But why stop with summer? Put a permanent 2 story canopy over the street and make it all pedestrian, all the time. Part can be a bike corral. With 2 stories, it could be a great outdoor movie theater with the screen at one end. Widen the sidewalk outside the Brit tavern to the oyster bar on 2nd so cars in the left lane don't come up blind on taxis and pedestrians in front of Shanghai, Berbatis and XV.
R has the right idea. Put in the removable posts so the businesses can get goods in/trash out in the wee hours of the morning. The street is utterly worthless for traffic and the 12 parking spots aren't really that essential.
The summer close off is temporary. It is being used as a way to understand what sorts of things need to be tweaked with for the future. Throughout the months, many things will be discussed as to what needs to be done for a permanent closing. So dontcha fret!
The street right of way is deeded from the adjacent property to the city. If the street is vacated, it reverts to the adjacent property. You can check into it if you like.
@Rosy - And it might still be public property. You'd still be allowed to walk and bike down it; it could be a big sidewalk instead of a small street, with no loss of public property.
This proves that business can pay $9000 each for their bike corals.