Funding

The BIA legislation provides for a special charge to be placed on each business within the designated area.

There are a variety of ways your Council can assess property and designate the contribution. The most commonly used methods are ASSESSMENT (millrate percentage) or FRONTAGE (fixed sum per linear front footage).

For example, in ASSESSMENT, each property owner's share of the annual BIA budget will be proportionate to his or her share of the total taxable assessed value within the BIA's boundaries. In other words, if an owner owns 1% of the total taxable assessed value, the share will be 1% of the budget.

For details on this and other methods consult BIABC, the BIABC step-by-step manual or your City Clerk.