Let’s Talk Money2018-10-14T12:16:20+00:00

LET’S TALK MONEY

Comparative BIA Levies and Levy Rates 2018-2019

Properties Taxable Property Value Budget/Levy % of Tax Rate Per $1000
Business Improvement Area (BIA)
Cambie Village 80 $892,716,535 $352,000 3.63% $0.39
Chinatown 202 $617,426,534 $418,760 6.25% $0.68
Collingwood 155 $385,456,899 $214,303 5.12% $0.56
Commercial Drive 266 $732,263,433 $524,567 6.60% $0.72
Downtown Vancouver 3166 $22,201,319,608 $3,017,626 1.25% $0.14
Dunbar Village 115 $426,260,197 $155,250 3.36% $0.36
Fraser Street 91 $291,216,600 $125,000 3.95% $0.43
Gastown 128 $782,762,347 $614,000 7.23% $0.78
Hastings Crossing 208 $715,767,667 $206,000 2.65% $0.29
Hastings North 303 $914,224,869 $367,850 3.65% $0.40
Hastings North Expansion 92 $380,888,030 $153,470 3.71% $0.40
Kerrisdale 156 $642,981,500 $359,000 5.14% $0.56
Marpole 87 $355,960,675 $182,452 4.72% $0.51
Mount Pleasant 218 $805,483,860 $395,000 4.52% $0.49
Mount Pleasant Expansion 24 $228,624,600 $83,544 3.37% $0.37
Point Grey Village 78 $405,537,633 $225,000 5.11% $0.55
Robson Street 55 $1,170,681,400 $617,816 4.86% $0.53
South Granville 114 $998,954,534 $673,500 6.21% $0.67
Strathcona 413 $1,285,399,460 $900,200 6.45% $0.70
Victoria Drive 205 $411,325,667 $192,000 4.30% $0.47
West 4th 154 $762,948,632 $420,000 5.07% $0.55
West Broadway 149 $825,897,761 $275,000 3.07% $0.33
West End 197 $1,983,159,165 $869,514 4.04% $0.44
Yaletown 539 $1,676,391,069 $995,000 5.47% $0.59
Total 7,195 $39,893,648,675 $12,331,351
Average 300 $513,806 4.57% $0.50
Average (without DVBIA) 175 $404,945 4.72% $0.51

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Proposed 5 Year Funding Cap

Provincial and Municipal BIA legislation requires that every BIA organization establish fixed terms for their existence as declare a maximum level of funding that they will apply for during that fixed term. The current five-year term of the South Granville Business Improvement Association ends March 31, 2019.

To continue operating, support for the organization by its members and City Council must be expressed through the passage of new by-law of the City of Vancouver.

An approval for a maximum funding cap does not replace the need for the approval of an annual budget which is presented and ratified at each and every AGM. The proposed annual budget can be any amount as long as the expenditures over 5 years do not exceed the cap amount.

The proposed funding cap reflects anticipated inflation (2.5%), an increase in minimum wage and a modest contingency.

The SGBIA requests that the maximum funding cap/ceiling for the term 2019-2024 be $5,000,000.00.

Proposed 2019-2020 Budget

PROMOTION / MARKETING
To include initiatives such as: Digital Marketing; Website/Blog; Social Media; Street Events; Christmas Promotion; Category Promotions; Tourism brochures, maps & advertising; Associated Staffing Costs

______________________________________

$195,000

NEIGHBOURHOOD BEAUTIFICATION
To include initiatives such as: Graffiti Abatement Program; Banner Design/Installation; Lighting; Street Projects; Street Custodial Team; Flower baskets & Planters; Murals; Associated Staffing Costs

______________________________________

$150,000

SAFETY & SECURITY
To include initiatives such as: Concierge Team services; Street infrastructure audits, Loss Prevention Teams; Merchant awareness campaigns; Associated Staffing Costs

______________________________________

$195,000

ADVOCACY & MEMBER COMMUNICATIONS
To include initiatives such as: Newsletters; AGM materials; Networking events; Vancouver Fair Tax Coalition; Associated Staffing Costs

______________________________________

$60,000

ADMINISTRATION
To include costs such as: office equipment; Audit & Bookkeeping, Insurance, AGM expenses; Board Meetings; Conference/ Membership fees; Office Expenses (rent, phone, WiFi etc); Associated Staffing Costs

______________________________________

$100,000

Proposed Levy Allocation 700,000
Approved 2018/2019 Levy 673,500

For a more detailed budget, please contact the BIA office.

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How does the BIA levy financially impact your business?

Type of business Square feet Total annual property taxes Total annual BIA contribution / levy
Office Tenant 712 sq. ft. $5,062.32 $325.97
Spa and Salon 3,822 sq. ft. $53,749.94 $3,338.66
Fashion store 2,160 sq. ft. $44,523.90 $2,765.59
Home Décor 1,675 sq. ft. $22,164.25 $1,376.73
Art Gallery 4,845 sq. ft. $53,254.99 $3,307.92

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South Granville