All businesses in the Downtown BIA area see benefits from the improved local atmosphere and ambience that a successful BIA helps to create.
BIA initiated improvements and activities may lead to increased property values and help to create and sustain a more vibrant economic environment in the Downtown area. This attracts both commercial and service sectors to the area, in turn leading to an increased demand for retail and office space, and a subsequent increase in property values.
BIA initiatives help to create a more prosperous community which attracts more visitors and retains more local customers for all types of services (dining, entertainment, professional services).
SECURE SOURCE OF FUNDING
Once the Board of the BIA has prepared a budget, discussed it with membership, and has it approved by the municipality, the municipality collects money as a special levy on all industrial and commercial properties in the area. Funds are then transferred to the BIA organization to carry out work.
- Increasing community interest and pride in the business area.
- Ensuring ongoing cooperation among the members of the business community.
- Improving lines of communications between the business community and municipal Council and staff.
- Advocating membership interest and concerns through effective communication with both the municipality and other levels of government.
- Increasing cost savings to the membership through improved integration of capital funding and promotional activities.