Item - 2017.ED22.10

The Economic Development Committee recommends that:

1.  City Council approve the amended Business Improvement Area (BIA) Capital Cost-Sharing Program Guidelines described in the report and as set out in Attachment 1 to the report (May 23, 2017) from the General Manager, Economic Development and Culture and the Executive Director, Financial Planning.

2. City Council establish a new project in the 2018-2027 Capital Plan for Economic Development and Culture entitled ”BIA Streetscape Master Plan Funding Program" with annual cash flow of $0.100 million, based upon the program guidelines set out in the report and in Attachment 2 to the report (May 23, 2017) from the General Manager, Economic Development and Culture and the Executive Director, Financial Planning, by reallocating funding from the BIA Equal Share Funding Program, and authorize the General Manager of Economic Development and Culture to enter into agreements with BIAs under the Program.

3. City Council direct the General Manager, Transportation Services, the Executive Director, Engineering and Construction Services, and the General Manager, Economic Development and Culture to undertake a review of project administration charges applied to Business Improvement Area (BIA) capital projects and the priority assigned to BIA projects with regard to permits and approvals.

4.  City Council direct the General Manager of Economic Development and Culture to report annually to Economic Development Committee on the allocation of Business Improvement Area (BIA) Capital Cost-Share Funding, the requests for funding from BIA Cost-Share Programs, and trends in BIA net financial assets, detailed by size of BIA, as reported in BIA Audited Financial Statements.

The BIA Capital Cost-Sharing Program represents a successful and long-standing partnership with the City's Business Improvement Areas (BIAs).  Through this program the City has cost-shared $39.3 million in streetscape improvements over the past 10 years to beautify, enhance and improve city streets and public spaces.  BIAs pay for 50 percent or more of the cost of projects funded under this Program and 100 percent of the long-term maintenance.

In response to a presentation by the Toronto Association of BIAs (TABIA) to Economic Development Committee on November 24, 2015, this report provides the results of a review of the Program looking at ways to maximize the amount of funding leveraged from BIAs and support long-term, cost-effective BIA streetscape improvements.

The report concludes that there are opportunities to leverage additional funding from BIAs without increasing City debt targets by amending the Cost-Share Guidelines to provide more consistency and flexibility, introducing a Streetscape Master Plan Funding Program to encourage BIAs to undertake long-term streetscape planning, and pursuing a further review of the policies affecting BIA cost-shared projects with other City divisions.