PRESENTATION TO ECONOMIC DEVELOPMENT COMMITTEE November 24, John Kiru TABIA, Executive Director
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1 ED8.1 PRESENTATION TO ECONOMIC DEVELOPMENT COMMITTEE November 24, 2015 John Kiru TABIA, Executive Director Lionel Miskin TABIA, Vice President Kennedy Road BIA, Secretary
2 TORONTO S 82 BUSINESS IMPROVEMENT AREAS An investment in our city 35,000 Businesses 400,000+ Full and Part time Jobs $1,300,000,000 in taxes generated by BIA members $35,000,000 Last year BIAs invested over 35 Million into Toronto s communities
3 SUCCESS STORIES ACROSS TORONTO
4 SUCCESS STORIES ACROSS TORONTO
5 UNFAIR TAX RATES COMMERCIAL-TO-RESIDENTIAL TAX RATES Toronto must continue to lower commercial tax ratios beyond 2020 to create a competitive environment for its businesses
6 ONTARIO BUSINESS EDUCATION TAX In 2015, Toronto businesses paid more than 905, UNFAIR TAX RATES PER $1M IN ASSESSMENT, TORONTO BUSINESSES PAY $3500 more than HALTON $1700 more than PEEL $2100 more than YORK TORONTO $900 more than DURHAM SOURCE: Found, Tomlinson, City of Toronto Property Tax Policy: A Backgrounder, February 2015
7 CONSTRUCTION IMPACTS ON TORONTO BUSINESS
8 CONSTRUCTION IMPACTS ON TORONTO BUSINESS
9 CONSTRUCTION IMPACTS ON TORONTO BUSINESS
10 CITY POLICY, PROGRAM AND REGULATION REVIEW AND DEVELOPMENT Treat BIAs as civic partners rather then just stakeholder groups or interested parties Imperative that BIAs and city BIA office be at the table during development/review stage LACK OF INPUT FROM ECONOMIC DEVELOPMENT COMMITTEE TO OTHER DEPARTMENTAL REPORTS The lack of a review thru the lens of economic impact leaves all of us very vulnerable before other city departments Need for a senior staff member dedicated to advancing BIA related interests, to track city and provincial decisions that will have cause and effect on the interests of local BIAs and businesses.
11 TRAINING FOR BIA BOARDS AND STAFF The environment within which BIAs operate has become significantly more complex, challenging and demanding BIAs and their staff must be better equipped and have the necessary skill sets and knowledge, to meet this challenge IMPROVE AWARENESS OF THE VALUE OF SMALL BUSINESS IN DECISION MAKING Promote the importance of small business and in turn BIAs to other departments in the city including the value that BIAs bring to the public realm, community building and the Economic and Social wellbeing of the neighbourhoods of the city
12 CAPITAL COST-SHARE PROGRAM COST-SHARE SUCCESS STORIES ACROSS TORONTO
13 CAPITAL COST-SHARE PROGRAM COST-SHARE SUCCESS STORIES ACROSS TORONTO
14 COST-SHARE SUCCESS STORIES ACROSS TORONTO Anti-graffiti pole wraps and paint in 15 neighbourhoods CAPITAL COST-SHARE PROGRAM BEFORE AFTER
15 UNEXPLAINED ADMIN COSTS BIAs paying higher project management costs CAPITAL COST-SHARE PROGRAM BIAs pay to the City Internal City cost Market rate 29.5% 22.5% 7.5%-12.5%
16 NUMBER OF BUSINESS IMPROVEMENT AREAS CAPITAL COST-SHARE PROGRAM BIAs Cost Share Available BIA Levy/Investment
17 AMOUNT OF COST-SHARE FUNDING AVAILABLE CAPITAL COST-SHARE PROGRAM $2.3m $1m BIAs Cost Share Available BIA Levy/Investment
18 ANNUAL BIA LEVY INVESTED BACK INTO TORONTO COMMUNITIES CAPITAL COST-SHARE PROGRAM $35m $4.2m BIAs Cost Share Available BIA Levy/Investment
19 AN OPPORTUNITY TO LEVERAGE BIA INVESTMENTS CAPITAL COST-SHARE PROGRAM 8.3x 2.5x 2x BIAs Cost Share Available BIA Levy/Investment
20 HOW YOU CAN HELP TORONTO BUSINESSES 1) EXPAND CAPITAL COST-SHARE PROGRAM Review capital cost-share program in consultation with TABIA and Toronto s 81 BIAs to identify program improvements that best leverage BIA investments and assist them in supporting long-term, cost-effective capital projects across the city. 2) IMPROVE TORONTO S BUSINESS TAX COMPETITIVENESS Continue to lower commercial-to-residential tax ratios and support us in combatting unfair provincial business education tax rates.
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Welcome to Mississauga Data This report and other related documents can be found at www.mississauga.ca/data. Mississauga Data is the official City of Mississauga website that contains urban planning related
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