The decision to start a BIA can only be made by the local business people and property owners. Starting a new BIA involves a three-step process:
Step 1: Establish a steering committee
Local businesses and commercial/industrial property owners must lead the BIA formation initiative. A steering committee of local stakeholders is required to define the geographic area of the BIA and ensure inclusiveness by consulting with all local business tenants and property owners. The City will provide assistance with the public consultation process.
Step 2: Determine community interest
Prior to a formal public meeting the steering committee will be res
Step 3: Hold a public meeting
The steering committee, in association with the City, is required to hold a formal public meeting to determine if there is sufficient interest in submitting a formal request to the City to form a new BIA. If the meeting determines that sufficient area businesses and property owners (as determined by City staff) support the formation of a BIA, a formal request is sent to the City outlining the steps that were taken to inform the members and the rationale for the proposed BIA boundary.
The City will then mail an official "Notice of Intention to Designate" a new BIA to all commercial and industrial property owners within the proposed boundary. If one or more people object to the formation of the BIA within 30 days of the mailing, the matter is automatically referred to the Ontario Municipal Board. If the total number of objections received within 60 days exceed one third of those entitled to be notified who also account for at least one third of the area's property tax, the City will not proceed with the formation of the BIA.
Find out more:
Contact Toronto Economic Development Office