Business Improvement Areas (BIAs) - 2025 Operating Budgets - Report 2

The Business Improvement Area is an association, independently managed from the City and operated by local businesses and property owners, joining together to organize, finance, and deliver capital streetscape improvements, and to promote economic development in a district with its own governance structure as set out in Chapter 19 of the Toronto Municipal Code and the City of Toronto Act, 2006. There are currently 85 established Business Improvement Areas in the City of Toronto. City Council previously approved the 2025 Operating Budgets for 65 Business Improvement Areas through Report 1 at its meeting on February 5, 2025 (Item 2025.CC26.1). Included in this Report 2 is the 2025 Operating Budgets for the 17 Business Improvement Areas for City Council approval. One Business Improvement Area, Historic Queen East, is inactive. The 2025 Operating Budgets for the remaining 2 BIAs will be presented to Council once the board-adopted budgets are available. No City funding is required since the financing of individual Business Improvement Area Operating Budgets is raised by a special levy on the rateable commercial and industrial properties within the respective Business Improvement Area boundaries. Under current Chapter 19 of the Toronto Municipal Code, the Business Improvement Areas By-law does not have specific provision requiring a Business Improvement Area maintain a certain amount in their accumulated surplus. Should a Business Improvement Area find itself in a deficit, be dissolved or becomes inactive, City Council has the authority to collect funds required and liabilities including interests, through the Business Improvement Area levy as stipulated under the By-law. If a board is dissolved and the liabilities exceed the assets assumed by the City, Council shall recover the difference. The recommendation in this report reflects the board-adopted 2025 Operating Budgets by the respective Business Improvement Areas' Boards of Management and General Membership. Complete budgets and supporting documentation have been reviewed by City staff to ensure that the 2025 Operating Budgets for Business Improvement Areas reflect Council's approved policies and practices.

Emery Village 3,274,791 2,198,151 Harbord Street 35,962 22,120 Marketo District 157,188 111,000 Mount Dennis 175,395 40,406 Oakwood Village 73,345 44,237 Ossington Avenue 186,018 82,841 Queen Street West 624,426 338,173 Regal Heights Village 139,527 50,497 Sheppard East Village 253,176 202,172 Trinity Bellwoods 176,966 57,574 Village of Islington 226,311 179,170 Weston Village 254,814 152,814 Wilson Village 387,704 356,193 Total 7,272,410 4,634,525 2. City Council elect to have the subclasses for the commercial and industrial property classes apply for 2025, and to apply the respective Business Improvement Area special levy rate reductions to the subclasses, all as set out in Appendix C.