Oakville Council approves 2015 Budgets for Business Improvement Areas

by

At a Special Council Meeting today, Oakville Council unanimously approved the 2015 Budgets for the town’s three business improvements areas (BIAs) – the Downtown Oakville BIA, the Bronte Village BIA and the Kerr Village BIA. The funding will go towards promoting and improving their respective business districts through business promotion, tourism, events and street beautification.

Oakville's BIAs play vital roles in each of their communities. Their contributions are critical to the successful promotion and enhancement of the economic, historic and cultural vitality of their business and shopping districts.

The 2015 budget of $871,285 for the Downtown Oakville Business Improvement Area has increased by only 1 per cent from 2014, and will go towards beautification projects such as improvements to Christmas lighting, flowers and winter hanging baskets, as well as marketing and advertising expenditures including an enhanced website and social interaction technologies.

The 2015 budget of $334,750 for the Bronte Village Business Improvement Area has increased by 2.9 per cent will go towards marketing and advertising, beautification and event spending including new GFI light poles, new flags/banners, and a vacant space façade mural, as well as a second full-time employee.

The 2015 budget of $373,874 for the Kerr Village Business Improvement Area has increased by 2 per cent from 2014 and will go towards administration costs, event and promotion expenditures and other beautification expenses.

Business Improvement Areas (BIAs) are specially funded business districts and are local boards of the municipality. The BIA Boards of Management provide for the promotion of the areas as business or shopping areas and for improvement, beautification, and maintenance beyond that provided at the expense of the municipality.

Under the Municipal Act, Council is required each year to adopt estimates of all sums required during the year for its own purposes and those of its local boards. Funding for the BIAs comes from a special tax levy. The 2015 budgets were adopted by the boards and membership of the Downtown Oakville, Bronte Village and Kerr Village BIA’s before going to Town Council for approval.

For more details read the staff report on oakville.ca.