Oak Bay Business improvement area up for renewal

Oak Bay plans to renew its Business Improvement Area Bylaw at its Nov. 10 council meeting.

Oak Bay plans to renew its Business Improvement Area Bylaw at its Nov. 10 council meeting.

The bylaw designates the Business Improvement Area and 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. In a revisers petition 50 per cent of the assessed value land owners would be required to oppose the bylaw.

Any property owner opposing the bylaw must submit a counter-petition to the municipal clerk by Oct. 27.

View the bylaw at municipal hall, 2167 Oak Bay Ave. between 8:30 a.m. and 4:30 p.m. Monday through Friday until Oct. 27.