Item - 2024.EC9.2
Tracking Status
- City Council adopted this item on February 6, 2024 without amendments and without debate.
- This item was considered by the Economic and Community Development Committee on January 11, 2024 and adopted without amendment. It will be considered by City Council on February 6, 2024.
- See also EC11.6
EC9.2 - Business Improvement Areas - 2024 Operating Budgets - Report 1
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- 1 - Etobicoke North, 2 - Etobicoke Centre, 3 - Etobicoke - Lakeshore, 4 - Parkdale - High Park, 5 - York South - Weston, 8 - Eglinton - Lawrence, 9 - Davenport, 10 - Spadina - Fort York, 11 - University - Rosedale, 12 - Toronto - St. Paul's, 13 - Toronto Centre, 14 - Toronto - Danforth, 15 - Don Valley West, 18 - Willowdale, 19 - Beaches - East York, 21 - Scarborough Centre, 22 - Scarborough - Agincourt
City Council Decision
City Council on February 6 and 7, 2024, adopted the following:
1. City Council adopt and certify the 2024 recommended Operating Budgets and Levy requirements of the following Business Improvement Areas:
Business Improvement Area |
2024 Operating Budget ($) |
2024 Levy Funds Required ($) |
Albion Islington Square |
352,230 |
187,415 |
Baby Point Gates |
72,461 |
59,918 |
Bayview Leaside |
235,321 |
202,321 |
Bloor Annex |
391,063 |
292,916 |
Bloor by the Park |
84,208 |
79,283 |
Bloor West Village |
652,755 |
436,888 |
Bloor-Yorkville |
5,695,925 |
4,571,938 |
Broadview Danforth |
398,616 |
323,811 |
Cabbagetown |
709,038 |
426,867 |
Chinatown |
974,269 |
595,566 |
Church-Wellesley Village |
395,203 |
297,262 |
CityPlace and Fort York |
598,541 |
447,298 |
College Promenade |
268,908 |
234,252 |
Corso Italia |
334,298 |
252,674 |
Danforth Mosaic |
486,575 |
365,883 |
Downtown Yonge |
3,752,179 |
3,040,255 |
Dupont by the Castle |
187,405 |
147,134 |
Eglinton Hill |
112,028 |
29,662 |
Fairbank Village |
591,421 |
314,172 |
Financial District |
2,013,328 |
1,305,554 |
Forest Hill Village |
254,643 |
196,857 |
Gerrard India Bazaar |
320,980 |
151,822 |
Greektown on the Danforth |
1,385,862 |
433,190 |
Harbord Street |
36,557 |
21,432 |
Hillcrest Village |
283,743 |
229,514 |
Kennedy Road |
266,177 |
256,945 |
Kensington Market |
247,060 |
206,608 |
Korea Town |
259,029 |
77,163 |
Lakeshore Village |
156,781 |
110,736 |
Lawrence Ingram Keele |
242,300 |
190,002 |
Liberty Village |
581,400 |
422,657 |
Little Italy |
739,764 |
402,269 |
Little Portugal Toronto |
775,557 |
414,690 |
Midtown Yonge |
307,588 |
189,874 |
Mimico by the Lake |
71,178 |
55,394 |
Mimico Village |
52,970 |
37,137 |
Mirvish Village |
179,108 |
86,302 |
Mount Pleasant Village |
339,679 |
250,039 |
Parkdale Village |
333,959 |
234,150 |
Regal Heights Village |
144,784 |
47,193 |
Riverside District |
490,244 |
257,822 |
Rogers Road |
90,815 |
41,196 |
Roncesvalles Village |
788,973 |
346,508 |
Rosedale Main Street |
372,434 |
239,726 |
St. Clair Gardens |
137,852 |
100,844 |
St. Lawrence Market Neighbourhood |
1,940,121 |
1,552,321 |
The Eglinton Way |
736,328 |
290,037 |
The Junction |
440,536 |
376,586 |
The Kingsway |
611,647 |
274,113 |
The Waterfront |
2,448,477 |
2,140,958 |
Toronto Downtown West |
5,249,826 |
4,192,240 |
Uptown Yonge |
416,110 |
268,610 |
Village of Islington |
253,268 |
169,028 |
West Queen West |
390,906 |
359,946 |
Weston Village |
272,866 |
148,363 |
Wexford Heights |
724,729 |
254,448 |
Wychwood Heights |
114,783 |
21,661 |
Yonge Lawrence Village |
280,201 |
247,209 |
Yonge North York |
1,258,655 |
1,003,664 |
York-Eglinton |
734,344 |
127,773 |
Total |
43,038,006 |
30,038,096 |
2. City Council elect to have the subclasses for the commercial and industrial property classes apply for 2024, and to apply the respective Business Improvement Area special levy rate reductions to the subclasses, all as set out in Appendix C to the report (December 21, 2023) from the Chief Financial Officer and Treasurer.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241678.pdf
Appendix A - Summary of 2024 Operating Budget by Business Improvement Area
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241680.pdf
Appendix B - Status of Business Improvement Area 2024 Operating Budget Approvals
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241681.pdf
Appendix C - 2024 BIA Special Levy Rate Reductions for Subclasses
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241682.pdf
EC9.2 - Business Improvement Areas - 2024 Operating Budgets - Report 1
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- 1 - Etobicoke North, 2 - Etobicoke Centre, 3 - Etobicoke - Lakeshore, 4 - Parkdale - High Park, 5 - York South - Weston, 8 - Eglinton - Lawrence, 9 - Davenport, 10 - Spadina - Fort York, 11 - University - Rosedale, 12 - Toronto - St. Paul's, 13 - Toronto Centre, 14 - Toronto - Danforth, 15 - Don Valley West, 18 - Willowdale, 19 - Beaches - East York, 21 - Scarborough Centre, 22 - Scarborough - Agincourt
Committee Recommendations
The Economic and Community Development Committee recommends that:
1. City Council adopt and certify the 2024 recommended Operating Budgets and Levy requirements of the following Business Improvement Areas:
Business Improvement Area |
2024 Operating Budget ($) |
2024 Levy Funds Required ($) |
Albion Islington Square |
352,230 |
187,415 |
Baby Point Gates |
72,461 |
59,918 |
Bayview Leaside |
235,321 |
202,321 |
Bloor Annex |
391,063 |
292,916 |
Bloor by the Park |
84,208 |
79,283 |
Bloor West Village |
652,755 |
436,888 |
Bloor-Yorkville |
5,695,925 |
4,571,938 |
Broadview Danforth |
398,616 |
323,811 |
Cabbagetown |
709,038 |
426,867 |
Chinatown |
974,269 |
595,566 |
Church-Wellesley Village |
395,203 |
297,262 |
CityPlace and Fort York |
598,541 |
447,298 |
College Promenade |
268,908 |
234,252 |
Corso Italia |
334,298 |
252,674 |
Danforth Mosaic |
486,575 |
365,883 |
Downtown Yonge |
3,752,179 |
3,040,255 |
Dupont by the Castle |
187,405 |
147,134 |
Eglinton Hill |
112,028 |
29,662 |
Fairbank Village |
591,421 |
314,172 |
Financial District |
2,013,328 |
1,305,554 |
Forest Hill Village |
254,643 |
196,857 |
Gerrard India Bazaar |
320,980 |
151,822 |
Greektown on the Danforth |
1,385,862 |
433,190 |
Harbord Street |
36,557 |
21,432 |
Hillcrest Village |
283,743 |
229,514 |
Kennedy Road |
266,177 |
256,945 |
Kensington Market |
247,060 |
206,608 |
Korea Town |
259,029 |
77,163 |
Lakeshore Village |
156,781 |
110,736 |
Lawrence Ingram Keele |
242,300 |
190,002 |
Liberty Village |
581,400 |
422,657 |
Little Italy |
739,764 |
402,269 |
Little Portugal Toronto |
775,557 |
414,690 |
Midtown Yonge |
307,588 |
189,874 |
Mimico by the Lake |
71,178 |
55,394 |
Mimico Village |
52,970 |
37,137 |
Mirvish Village |
179,108 |
86,302 |
Mount Pleasant Village |
339,679 |
250,039 |
Parkdale Village |
333,959 |
234,150 |
Regal Heights Village |
144,784 |
47,193 |
Riverside District |
490,244 |
257,822 |
Rogers Road |
90,815 |
41,196 |
Roncesvalles Village |
788,973 |
346,508 |
Rosedale Main Street |
372,434 |
239,726 |
St. Clair Gardens |
137,852 |
100,844 |
St. Lawrence Market Neighbourhood |
1,940,121 |
1,552,321 |
The Eglinton Way |
736,328 |
290,037 |
The Junction |
440,536 |
376,586 |
The Kingsway |
611,647 |
274,113 |
The Waterfront |
2,448,477 |
2,140,958 |
Toronto Downtown West |
5,249,826 |
4,192,240 |
Uptown Yonge |
416,110 |
268,610 |
Village of Islington |
253,268 |
169,028 |
West Queen West |
390,906 |
359,946 |
Weston Village |
272,866 |
148,363 |
Wexford Heights |
724,729 |
254,448 |
Wychwood Heights |
114,783 |
21,661 |
Yonge Lawrence Village |
280,201 |
247,209 |
Yonge North York |
1,258,655 |
1,003,664 |
York-Eglinton |
734,344 |
127,773 |
Total |
43,038,006 |
30,038,096 |
2. City Council elect to have the subclasses for the commercial and industrial property classes apply for 2024, and to apply the respective Business Improvement Area special levy rate reductions to the subclasses, all as set out in Appendix C to the report (December 21, 2023) from the Chief Financial Officer and Treasurer.
Origin
Summary
This report brings forward Business Improvement Area annual Operating Budget for approval by City Council as required by the City of Toronto Act, 2006. City Council approval is required to permit the City to collect funds through a special levy on the rateable commercial and industrial properties within the respective Business Improvement Area boundaries. Special levy rate reductions for the subclasses have been set out in Appendix C, for properties in the subclasses of the commercial and industrial property classes.
The Business Improvement Area is an association, independently managed from the City and operated by local businesses and property owners, joining together to organize, finance, and deliver capital streetscape improvements, and to promote economic development in a district with its own governance structure as set out in Chapter 19 of the Toronto Municipal Code and the City of Toronto Act, 2006.
There are currently 84 established Business Improvement Areas in the City of Toronto, of which 60 BIAs 2024 Operating Budgets are submitted for City Council approval through this report. No City funding is required since the financing of individual Business Improvement Area Operating Budgets is raised by a special levy on the rateable commercial and industrial properties within the respective Business Improvement Area boundaries.
Under current Chapter 19 of the Toronto Municipal Code, the Business Improvement Areas By-law does not have specific provision requiring a BIA maintain a certain amount in their accumulated surplus. Should a Business Improvement Area find itself in a deficit, be dissolved or becomes inactive, City Council has the authority to collect funds required and liabilities including interests, through the Business Improvement Area levy as stipulated under the By-law. If a board is dissolved and the liabilities exceed the assets assumed by the City, Council shall recover the difference. As directed by City Council at its meeting on July 19, 2022, the General Manager, Economic Development and Culture will conduct additional review and consultation on other issues impacting Business Improvement Areas. To ensure prudent stewardship of public resources and further strengthen financial management and oversight, the issue of maintaining a minimum balance requirement in the Business Improvement Area accumulated surplus reserves will be part of the By-law review. Based on the outcome of the review, City staff will present recommendations including the potential for amendment to the current Chapter 19 of the Toronto Municipal Code, and report back to Council by the second quarter of 2024.
The recommendation in this report reflects the board-adopted 2024 Operating Budgets by the respective Business Improvement Areas’ Boards of Management and General Membership. Complete budgets and supporting documentation have been reviewed by City staff to ensure that the 2024 Operating Budgets for Business Improvement Areas reflect Council’s approved policies and practices.
Background Information
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241678.pdf
Appendix A - Summary of 2024 Operating Budget by Business Improvement Area
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241680.pdf
Appendix B - Status of Business Improvement Area 2024 Operating Budget Approvals
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241681.pdf
Appendix C - 2024 BIA Special Levy Rate Reductions for Subclasses
https://www.toronto.ca/legdocs/mmis/2024/ec/bgrd/backgroundfile-241682.pdf