BIA in business for another five years

Oak Bay renewed its Business Improvement Area Bylaw for another five-year term

Oak Bay renewed its Business Improvement Area Bylaw Nov. 10 after only a small counter petition response. Property owners opposing the bylaw were to submit a counter-petition to the municipal clerk by Oct. 27. Property owners representing less than five per cent of the assessed land filed a petition opposing the bylaw. A total of 50 per cent of the assessed value land owners would be required to oppose the bylaw that renews the mandate already existing for the BIA established in 1995 for another five-year term.

The bylaw allows the district to provide up to $400,000 over the five-year span for the Oak Bay Business Improvement Association to develop, retain and promote business in the prescribed area. That includes training programs, studies and projects to benefit businesses within the area.

Funding is through a local area levy on the commercial properties in the BIA boundaries.

 

cvanreeuwyk@oakbaynews.com