Business Improvement Areas (BIAs) - 2026 Operating Budgets - Report 2

The BIA 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 86 established BIAs in the City of Toronto. City Council previously approved the 2026 Operating Budgets for 64 BIAs through Report 1 at its meeting on February 4, 2026 ( Item 2026.CC36.5 ). Included in this Report 2 is the 2026 Operating Budgets for the 21 BIAs for City Council approval. One BIA, Historic Queen East, is inactive. Report 2 also contains a recommended technical adjustment to 2026 Levy Funds Required outlined in Recommendation 1 of Report 1, specifically pertaining to the Upper Avenue BIA. 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 BIA boundaries. Under current Chapter 19 of the Toronto Municipal Code, the Business Improvement Areas By-law does not have specific provision requiring a BIA maintain a certain amount in their accumulated surplus. Should a BIA 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 BIA 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 2026 Operating Budgets by the respective BIAs' Boards of Management and General Membership. Complete budgets and supporting documentation have been reviewed by City staff to ensure that the 2026 Operating Budgets for BIAs reflect Council's approved policies and practices.

BIA 593,489 316,540 College Promenade BIA 329,251 199,113 College West BIA 53,436 24,208 Dovercourt Village BIA 8,967 8,645 Emery Village BIA 5,182,201 2,161,162 Korea Town BIA 205,398 116,632 Marketo District BIA 166,802 113,100 Mimico by the Lake BIA 73,082 57,453 Mimico Village BIA 50,299 41,264 Mount Dennis BIA 223,080 41,448 Oakwood Village BIA 104,596 50,873 Ossington Avenue BIA 216,129 88,640 Queen Street West BIA 704,599 371,990 Regal Heights Village BIA 106,853 51,507 Business Improvement Area 2026 Operating Budget ($) 2026 Levy Funds Required ($) Sheppard East Village BIA 231,345 207,781 Shop The Queensway BIA 235,907 159,518 Trinity Bellwoods BIA 135,963 57,574 Upper Village BIA 226,166 156,988 Total 9,934,258 4,836,246 2. City Council adopt and certify the amended 2026 recommended Levy Funds requirements of the Upper Avenue BIA to $187,298. 3. City Council elect to have the subclasses for the commercial and industrial property classes apply for 2026, and to apply the respective BIA special levy rate reductions to the subclasses, all as set out in Appendix C.