Sparks Street BIA Expansion – Important Notice for Landlords and Tenants Alike
The Sparks Street BIA plans to expand its boundaries beyond the traditional pedestrian mall into a broader part of the downtown core in the new year.
Modelled after other urban centres’ more expansive downtown BIA’s landlords should have received a Notice of Intention dated October 23rd and they were to provide a copy of the Notice to their tenants who pay all or part of the annual municipal property taxes within 30 days (November 23rd).
Each building in the new catchment area would be charged a levy, which is used to fund the BIA’s annual budget. The Levy is determined by multiple factors, including the total assessment value of the entire BIA boundary, individual property assessment values, and tax ratios and rates.
To learn more about what your responsibilities are as a landlord and how it will affect your tenants, please check out the attached Sparks Street Brief which includes the Notice of Intention, FAQs from the Sparks Street BIA and how to register your opinion with the city.
