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Business Improvement Areas can exploit opportunities and solve problems. In a nutshell, BIAs link the owners of two or more private properties or businesses, enabling them to share the costs of solving common problems, or realizing economic opportunities associated with their area.
BIAs represent systems of cooperation in which business representatives agree to a formula for cost sharing and for managing the implementation of plans they have helped shape. This sustainable funding system enables predictable, dependable multi-year budgets.
Sustainability requires that a BIA levy be compulsory, multi-year, and applied to all benefiting properties or businesses. It is enforced with the power of government to collect the assessments.
Oversight is the responsibility of a board of directors whose membership reflects both the interests of property owners and commercial interests - those that are paying the assessments.
While governments have limited authorizing and oversight responsibilities, the onus for planning, financing and managing BIAs resides with the private sector. BIAs are not 'privatization' of government functions. They are better described as 'cooperative capitalism'.
BIAs are active all across North America. We are part of the Business Improvement Association of British Columbia (BIABC), an organization formed in 1991 to facilitate networking among BIA members. There are currently 52 BIAs operating in British Columbia, with 25 more in the process of formation. The existing BIA areas represent over 40,000 businesses with over $16.5 billion in land value. Their combined budgets exceed 10 million dollars. In Vancouver alone there are 18 active associations.
Each BIA reflects the needs and wants of the individual areas. BIAs range in size, budget and focus depending on the needs of the community. BIAs are for every community - from downtowns to entire towns, and from industrial parks to neighbourhood shopping areas.
The South Granville Business Improvement Association (SGBIA) obtains its revenue from a levy that is collected on our behalf by the City of Vancouver. Our mandate runs in 5-year terms and each year the SGBIA membership approves an annual budget. The budget then gets divided amongst the BIA properties based on their assessed property value. The City of Vancouver collects these funds together with standard property taxes and then turns this money over to the Association to administer on a semi-annual basis. For most tenants, the levy is included in the property tax total portion of the triple net costs of their lease. In actuality, the BIA portion of a tenant's property tax is about 4.3%.
Where is the South Granville BIA?
The SGBIA was established in 1999 for the following express purposes:
- to develop, encourage and promote business in the South Granville area; and
- to represent the common interests of Business and Property owners of the South Granville Community
The physical boundaries of the SGBIA are 16th Avenue to 5th Avenue along Granville Street with an east-west boundary of the lanes on either side. The area also includes properties on the south side of Broadway between Granville and Fir Street. The South Granville shopping district has been a part of the fabric of Vancouver for over 100 years.
2007 SGBIA Area Facts
- 108 Properties
- 90 Property owners
- 364 million dollars in total assessed property values
- 10.5 million dollars in total property taxes payable (not including Parking Tax)
- Our total budget for 2007 is $430,000.
What do we do?
We promote South Granville as a world-class destination for art, antiques, fashion, home decor, services, and restaurants. An individual merchant or business cannot accomplish what we do without seriously impacting their business, time and revenue. We are proud of the relationships we have developed with the Vancouver Sun, Guestlife and the many other publications that advertise and showcase South Granville and its diverse shopping opportunities.
In this past 8 years, the SGBIA has found its groove and is reaping the benefits of long, hard work. The need for a BIA has never been greater. City Hall has finally begun dialogue with the commercial community and the BIA's have become the voice of merchants and property owners across the city.
We work for you! The list of things the SGBIA does on your behalf is very long. We represent a united, collective voice for our business community. We are your advocates in dealing with the issues of security and vagrancy; taxation and city services; as well as beautification and promotion.
Long-term goals involve the continuation of our efforts to squeeze every bit of value out of any money that we receive. Our goals are to make sure that our tax dollars are being spent in our community, and to make South Granville the tourist shopping destination of choice for the years leading up to 2010. Our goal is also to make sure that South Granville retains its character and cache.
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