Council for the City of Mission intends, on behalf of the Mission Downtown Business Association, to create a Business Improvement Area in downtown Mission, pursuant to section 215 of the Community Charter.
A Business Improvement Area is a local service area established by a municipal council where business property owners finance activities to promote business. For property owners and businesses, a business improvement area is a way to improve business success by organizing and financing support programs and activities. The benefit for the City as a whole is to provide a means for the Mission Downtown Business Association to help improve local economic development and encourage the vitality of the downtown core.
The cost of a Business Improvement Area program is paid for entirely by the benefitting property owners by way of a local area tax (see details below). The City collects the tax and pays 100% of the amount collected directly to the Mission Downtown Business Association to implement a Business Promotion Scheme that consists of the following activities:
- encouraging business,
- street beautification,
- insurance, licences, accounting fees and dues,
- office expense, rent and administration support,
- downtown revitalization, maintenance and beautification, and
- business training and conferences.
The location of the proposed Business Improvement Area that will benefit from the Business Promotion Scheme is shown on the following map:
The estimated annual cost of the Business Promotion Scheme to be paid for by the benefitting property owners in the area shown on the map is:
|
2024 - $ 122,600 2025 - $ 131,200 2026 - $ 140,400 |
2027 - $ 150,300 2028 - $ 160,900 |
The annual cost to be charged to each of the benefiting property owners is estimated to be $0.89029 per $1,000 of taxable assessed value on both land and improvements in assessment classes 5 (light industry) and 6 (business). This rate is based on 2024 completed roll assessments and in 2025 and thereafter, this rate may be adjusted either up or down to raise the above amounts from the Business Improvement Area properties each year. The charges will be imposed for a period of 5 years, from 2024 to 2028.
Council may proceed with establishing the Business Improvement Area service program unless the owners of at least 50% of the 115 subject properties, representing at least 50% of the total assessed value of all the subject properties ($137,707,300), submit to the Corporate Officer a petition against the service no later than 4:30 pm on Monday, March 4, 2024.
The required response form has been mailed to the owners of the subject properties within the proposed Business Improvement Area. Additional forms can be obtained from the Corporate Officer if required.
Corporate Officer
604-820-3700