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Chamber News
Lower Lonsdale BIA Vote FAQ
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- What is a Business Improvement Area (BIA)?
A BIA is a commercial area in which property owners and businesses work together to promote the area to increase customer traffic, organize promotional events, and take on a broad range of programs to improve business opportunities. There are currently over 70 BIAs in the province.
- How do I know if my property is in the BIA Area?
The proposed catchment area includes all commercial businesses (Class 6 properties) located between and including Forbes Street and St. Georges Avenue and 4th Street to the waterfront.
- How does the voting process work?
Registered property owners within the BIA area boundaries will receive a notification from the City of North Vancouver asking them to register their support for, or opposition to, the BIA initiative.
- If the property owner is opposed to the BIA, they must return a completed petition stating they do not support the initiative and send it back to the City Clerk by 4:00pm on September 14th, 2016.
- If the property owner is in support, they can return the petition indicating their support, or simply do nothing as no further action is required.
The majority of owners of a parcel must complete the petition for an objection to be valid. The petition will succeed unless a majority of the property owners, (representing 50% of the assessed value of land and improvements) vote against the initiative.
- How much is the BIA levy?
The BIA levy is collected as a property tax calculated per $1,000 of assessed property value (land and improvements). Based on a budget set at $500,000, the annual tax levy would be 1.00 – $1.10 per $1,000 of assessed property value for 2017.
So, a property assessed at $500,000 would be estimated at $510 per year and a $2 million dollar property would pay about $2,040 per year.
The City will collect the levy in conjunction with annual property tax payments. The maximum amount of taxes over the five year period that can be levied would be $2,630,000.
- How long is the BIA Bylaw in effect?
The municipal Bylaw will establish the BIA for a period of five years, after which it would need to be formally renewed by a new Bylaw should the business area want it to continue.
- How will the BIA use the funding?
100% of the tax levy goes to the BIA and none is retained by the City.
The BIA Members will form a new Lower Lonsdale Business Improvement Area Society and elect a board of directors from amongst the property owners and businesses to represent the membership and conduct its business. A final plan and budget will be approved by the new board of directors.
A proposed BIA budget and plan for 2017 should have been sent to you along with the complete description of Bylaw No. 8494 and a petition ballot with postage-paid envelope.
More information can be found at: www.cnv.org/LowerLonsdaleBIA or www.lowerlonsdalebusinessassociation.ca
If you have any questions, please contact Larry Orr, Manager of Business Services, City of North Vancouver: lorr@cnv.org or 604-982-3913.
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