What are BIA’s?
Business Improvement Areas (BIAs) are specially funded business districts. The districts are managed by non-profit groups of property owners and business tenants whose goal is to promote and improve their business district. Vancouver has 22 BIAs.
What is the City’s role?
The City helps local business groups to form the BIAs. Once a BIA is formed, it is managed by a volunteer board elected by property owners and tenants within its boundary.
The City has a continuing role with the annual funding process, monitoring BIA budgets, and acting as a liaison between the BIA and City departments
How do BIA’s get their funding?
Funding for the BIAs comes from a special property tax. Each commercial property within the boundary is taxed in proportion to its total taxable value. This means that if a property owner owns one percent of the total taxable value, their share will be one percent of the BIA budget. In most lease agreements, property owners pass this cost on to the business tenants.
BIA funds are used to hire staff and run BIA activities.
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