Business Improvement Areas (BIAs) 2011 Operating Budgets - Report No. 1

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1 STAFF REPORT ACTION REQUIRED Business Improvement Areas (BIAs) 2011 Operating s - Report No. 1 Date: January 17, 2011 To: From: Wards: Reference Number: Economic Development Committee Deputy City Manager and Chief Financial Officer All P:\2011\Internal Services\FP\ed11001fp (AFS#12989) SUMMARY This report brings forward Business Improvement Area (BIA) annual operating budgets for approval by Council as required by the City of Toronto Act, Council approval is required to permit the City to collect funds through the tax levy on behalf of the BIAs. Complete budgets and supporting documentation received by November 30, have been reviewed and are reported herein; BIA Operating s received after this date will be brought forward in later reports. Of the 71 established BIAs, 36 BIA budgets are submitted for approval in this report. The recommendations reflect 2011 Operating s approved by the respective BIAs Boards of Management and have been reviewed by City staff to ensure BIA budgets reflect Council s approved policies and practices. RECOMMENDATIONS The Deputy City Manager and Chief Financial Officer recommends that: 1. the Economic Development Committee adopt and certify to City Council the 2011 recommended expenditures and levy requirements of the following Business Improvement Areas: Business Improvement Area 2011 Expenditure Estimates 2011 Levy Funds Required Staff report for action on 2011 BIA Operating s: Report No. 1 1

2 Albion-Islington 248, ,430 Bloor Annex 114, ,692 Bloor by the Park 82,500 82,500 Bloorcourt Village 157, ,076 Bloor Street 3,041,938 1,650,000 Bloor-Yorkville 1,992,895 1,814,943 Chinatown 287, ,643 Corso Italia 322, ,856 Crossroads of the Danforth 78,115 65,925 Dovercourt Village 17,578 6,778 Downtown Yonge 2,518,127 2,393,542 Gerrard India Bazaar 221, ,338 Greektown on the Danforth 1,238, ,876 Harbord Street 21,686 20,174 Kennedy Road 324, ,927 Korea Town 121,300 65,964 Lakeshore Village 75,049 60,321 Little Portugal 79,625 49,668 Mimico Village 24,213 19,780 Mirvish Village 28,299 0 Mount Pleasant 262, ,996 Pape Village 71,704 67,093 Queen Street West 235, ,975 Riverside District 163, ,026 Roncesvalles Village 367, ,199 Rosedale Main Street 381, ,849 Sheppard East Village 222,953 99,475 The Beach 257, ,893 The Danforth 336, ,455 The Eglinton Way 285, ,669 The Kingsway 428, ,930 The Waterfront 876, ,577 Toronto Entertainment District 2,109,204 1,795,304 Uptown Yonge 118, ,360 Village of Islington 177,850 95,641 Yonge-Lawrence Village 223, ,196 FINANCIAL IMPACT No City funding is required since financing of Business Improvement Area budgets is raised by a special levy on members which totals $13,027,071 in this report. All of the 2011 BIA operating budgets submitted for consideration are balanced budgets. The appeal provision surplus or appeal provision deficit for each BIA, as determined by the Revenue Services Division, has been addressed by the BIA and incorporated into Staff report for action on 2011 BIA Operating s: Report No. 1 2

3 their 2011 Operating. The BIA budgets have provisions for required capital costsharing contributions for those projects approved in or prior and carried forward into 2011, as well as new capital cost-share projects included in the 2011 Recommended Capital for Economic Development and Culture. DECISION HISTORY BIA Operating Process: The City of Toronto Municipal Code Chapter 19 and the City of Toronto Act, 2006 require that BIA operating budgets be approved by Council. General membership and Board of Management meetings at which the BIA 2011 budgets were approved are set out below: Business Improvement Area by Board of Management by Membership Albion-Islington October 24, November 10, Bloor Annex November 9, November 9, Bloor by the Park October 13, October 19, Bloorcourt Village October 12, November 8, Bloor Street September 29, November 2, Bloor-Yorkville September 29, November 2, Chinatown September 1, October 6, Corso Italia October 26, October 26, Crossroads of the Danforth October 14, October 14, Dovercourt Village October 13, October 13, Downtown Yonge September 28, November 10, Gerrard India Bazaar August 3, November 10, Greektown on the Danforth September 15, September 30, Harbord Street October 20, November 10, Kennedy Road October 20, October 27, Korea Town August 17, September 30, Lakeshore Village October 6, November 2, Little Portugal October 6, November 3, Mimico Village October 5, November 9, Mirvish Village September 7, October 16, Mount Pleasant September 21, November 1, Pape Village October 13, November 2, Queen Street West October 26, November 17, Riverside District November 3, November 25, Roncesvalles Village October 20, October 27, Rosedale Main Street September 22, October 13, Sheppard East Village September 15, October 26, The Beach September 20, October 20, The Danforth October 18, October 18, Staff report for action on 2011 BIA Operating s: Report No. 1 3

4 The Eglinton Way September 1, October 6, The Kingsway October 13, November 15, The Waterfront November 25, November 25, Toronto Entertainment District October 13, November 18, Uptown Yonge October 14, November 3, Village of Islington August 4, October 6, Yonge-Lawrence Village August 10, October 27, Appendix A includes a summary of the BIA budgets discussed in this report, including a calculation of their net levy requirements. Appendix B sets out the status of 2011 BIA operating budget submissions. Appeal Provision Review: On July 30, 2002, City Council adopted a report entitled Issues Related to Business Improvement Associations (BIA). Among other items, the Finance Department (currently the Revenue Services Division) was directed to conduct an annual review and analysis of the assessment appeal provision for each BIA, in order to determine if the provision is sufficient to meet expected revenue reductions from pending assessment appeals. The assessment appeal provision is intended to protect the cash flows and revenues required by the BIAs to meet its operating obligations in the future, rather than the BIAs directly compensating the City for assessment appeal reductions. The appeal provision provides a contingency, which is used to offset appeal reductions. The result of the assessment appeal provision review and analysis for the individual BIA as of August 3, identified either a provision surplus or provision deficit. Since the appeal provisions are held by the City, any appeal provision surpluses will be returned to the respective BIAs in 2011, and any appeal provision deficits must be funded through the respective BIA s 2011 levy. Therefore, each BIA is required to address the identified surplus or deficit amount within its respective operating budget for the following fiscal year. The recommended 2011 BIA Operating s reflect the disposition of the resultant provision surplus or deficit accordingly. BIA Capital Cost-Share Project Funding: On July 22, 2003, City Council adopted a report entitled Business Improvement Area (BIA) Capital Cost-Sharing Program Review approving the BIA Capital Cost-Sharing Program Guidelines. This program is part of the Economic Development and Culture annual Capital. The program guidelines set out eligibility criteria that BIAs must satisfy in order to participate in the BIA Capital Cost-Sharing Program, including one criteria which requires the availability of the BIA s share of funding. Prior to making a capital cost-sharing request, the BIA must have in place its share of the project funding (50 percent). If the project is to be phased-in over a period of years, the BIA must have in place 50 percent of the cost of each individual phase prior to making a capital request Staff report for action on 2011 BIA Operating s: Report No. 1 4

5 for matching funds for that phase. For the purposes of this requirement, the BIA will be allowed to include capital funding to be budgeted for the year in which the capital project is to take place. Another eligibility criteria is that the BIA must have an operating budget, adopted at a general meeting of the BIA and approved by Council, for the year the project is to be implemented. A review of each of the BIA s 2011 Operating s supporting documentation by the BIA Office and Financial Planning Division staff shows that those BIAs with capital cost-share projects approved by the City in or prior and carried forward into 2011, and new capital projects recommended in the 2011 Economic Development and Culture Capital, have all met the program eligibility criteria of having in place its 50 percent share of the project funding. This share may be reflected in the BIA s prior years accumulated surplus (cash in-hand reserved for specific capital cost-share projects) and/or shown as a capital expenditure item in the BIA s 2011 Operating. COMMENTS The Albion-Islington BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 24, and its general membership on November 10,. The increased budget reflects the BIA's priorities to continue with Phase 2 of the year round lighting capital cost-shared project, plus implement Phase 1 of the streetscape improvement Master Plan for median enhancements, and to have more year round promotional events and a bigger street festival. The balanced budget consists of $248,104 in expenditures, and the same amount in revenues comprised of a BIA levy of $184,430, anticipated sponsorships of $15,000 to offset part of the costs of the Fusion of Taste Festival, a grant of $2,000 from the City s Community Festivals and Special Events Investment Program for this event, GST/HST recoveries of $2,000 and interest income of $150. In addition, the BIA will use $37,000 of accumulated funds earmarked for capital cost-shared projects and the appeal provision surplus of $7,524 that the City is returning to the BIA. ed expenditures include $88,850 for marketing, promotion and advertising initiatives; $65,000 for the aforementioned capital cost-shared projects; $16,866 for capital maintenance; and $60,622 for general BIA administration and the services of a full-time BIA coordinator. A projected operating surplus of $12,000 from more sponsorship revenues and GST/HST recoveries will be saved for future capital cost-shared projects. It is recommended that the Albion-Islington BIA s 2011 budget of expenditures totalling $248,104 and a BIA levy of $184,430 be approved. The Bloor Annex BIA 2011 Operating was approved at meetings of the BIA s Board of Management and its general membership on November 9,. The BIA proposes a balanced budget of capital and operating expenditures totalling $114,139 that is 5.5% higher than in, which will be funded by revenues from a 4.6% increase in the levy requirement to $110,692, the appeal provision surplus of $3,147, and GST/HST recoveries of $300. The incremental levy requirement will fund higher BIA administration expenses and more BIA coordinator resource, and increased capital maintenance, for flowers and floral care for the planters. The budgets for advertising and promotion remain the same as in. Phase 2 of the clamp-on pedestrian lighting Staff report for action on 2011 BIA Operating s: Report No. 1 5

6 capital cost-shared project will be implemented in The BIA is projecting an operating deficit of $3,058 in due to increased capital maintenance costs. The operating deficit will be funded from the BIA s accumulated surplus funds. It is recommended that the Bloor Annex BIA s 2011 budget of gross expenditures totalling $114,139 and a BIA levy of $110,692 be approved. The Bloor by the Park BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 13, and its general membership on October 19,. The proposed budget of $82,500 in capital and operating expenditures will require an 18% increase in the BIA levy to $82,500. The incremental levies will be reserved for future capital cost-shared projects, while the balance will go towards funding increased capital maintenance, increase advertising and promotional initiatives and maintain ongoing general BIA administration. A projected operating surplus of $15,585 resulting from postponed advertising and promotion initiatives will be reallocated towards future capital cost-shared projects. It is recommended that the Bloor by the Park BIA s 2011 budget of expenditures totalling $82,500 and a BIA levy of $82,500 be approved. The Bloorcourt Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 12, and its general membership on November 8,. The proposed budget reflects the BIA's 2011 priorities to hire a BIA coordinator and implement the streetscape recommendations. The balanced budget with expenditures of $157,694 will be funded by revenues from a BIA levy of $140,076; the appeal provision surplus of $5,868 that the City is returning to the BIA; an anticipated grant of $5,000 from the City s Mural Program for a mural project; $6,500 in GST/HST recoveries and $250 of interest income. The proposed budget provides funding for marketing and promotional events such as the BIG on Bloor street festival; new banners and a mural; increased capital maintenance; an administrator to implement various projects and general BIA administration. An operating surplus of $13,562 is forecasted in resulting from a downsized summer festival. It is recommended that the Bloorcourt Village BIA s 2011 budget of expenditures totalling $157,694 and a BIA levy of $140,076 be approved. The Bloor Street BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 29, and its general membership on November 2,. The 2011 budget consists of a special levy of $1,650,000 on the Bloor Street BIA members for the Bloor Street Transformation Project (BSTP). As well, the Bloor- Yorkville BIA will make an annual contribution of $250,000 towards the project. From the 2011 levies, $150,000 or 10% of the BIA levy will go towards the provision for assessment appeal reductions that is held by the City, and $990,872 towards repayment of the loan and interest as per the payment schedule in the Agreement for repayment of recoverable debt and agreed financing of the BSTP signed on June 25, The Agreement also calls for an annual contribution of $30,000 to the BSTP Maintenance Reserve Fund held by the City for future repairs/replacement of the granite pavers. Other budgeted capital expenditures include ongoing design fees, project and construction management fees, and consultant fees for installation of artwork that amounts to Staff report for action on 2011 BIA Operating s: Report No. 1 6

7 $372,000 and additional granite work costing $500,000. With the installation of additional granite planters, an increased budget of $390,000 is required to complete Phases 1 and 2 of the planting program in Upon completion of the BSTP project, the BIA will be having a grand opening event estimated to cost $450,000. In order to provide a balanced budget and meet obligations, the BIA will use $1,138,938 of prior years levies on hand. These funds, together with Bloor-Yorkville BIA s contribution, will go towards funding final BSTP project details, a grand opening party, ongoing advertising, flowers and floral care for the planters, administrative expenses and address the appeal provision deficit of $54,066. It is recommended that the Bloor Street BIA s 2011 budget of expenditures of $3,041,938 and a BIA levy of $1,650,000 be approved. The Bloor-Yorkville BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 29, and its general membership on November 2,. The proposed budget reflects the BIA's focus on ongoing beautification and promotion of the Bloor-Yorkville commercial neighbourhood. The key focus of the organization is to run events and promotions to draw people to the area, as well as maintaining and improving the area, so that it is attractive and welcoming to visitors. The proposed budget of expenditures for general BIA administration, capital maintenance, marketing, advertising and promotion is similar to budget levels. Planned capital cost-shared projects to be undertaken in 2011 include the implementation of Phase 2 of the granite benches project and installation of custom bike rings. Since the Bloor-Yorkville BIA is committed to contributing $5.0 million to the Bloor Street Transformation Project (BSTP) over 20 years, included in the 2011 budget of capital expenditures is the BIA s annual contribution of $250,000 towards the BSTP. To fund the gross expenditures that total $1,992,895 and produce a balanced budget of expenses and revenues, the BIA proposes to increase the levy requirement by 5% to $1,814,943. The levy increase compensates for the smaller appeal provision surplus of $45,094 that the City is returning to the BIA in To limit the BIA levy increase to 5% and to fund the two capital cost-shared projects, the BIA will use $79,858 of prior year's surplus funds. In addition, the BIA expects other revenues including $50,000 in sponsorships of events and $3,000 of interest income. The BIA is projecting an operating surplus of $118,612 in, resulting from higher than expected sponsorship revenue and underspending in all areas. It is recommended that the Bloor-Yorkville BIA s 2011 budget of gross expenditures totalling $1,992,895 and a BIA levy of $1,814,943 be approved. The Chinatown BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 1, and its general membership on October 6,. The BIA proposes a balanced budget having capital and operating expenditures totalling $287,081 and the same amount in revenues comprised of a levy requirement of $206,643, the appeal provision surplus of $9,938 that will be returned to the BIA, Toronto Chinatown Festival sponsorships of $40,000 and other revenues of $8,000. The expenditure budget reflects the BIA's ongoing initiatives, including the Cavalcade of Lights, security, pest control and the Toronto Chinatown Festival. As well, the BIA plans to install anti-graffiti pole sleeves throughout Chinatown; this capital cost-shared project was deferred from to The 2011 budget for the Toronto Chinatown Festival is Staff report for action on 2011 BIA Operating s: Report No. 1 7

8 now broken out between festival revenue and festival expenses, to be compliant with proper accounting practices, whereas prior years' budgets and actuals showed only a net budget for the festival. An operating surplus of $21,165 is projected in, mainly resulting from the deferral of the capital project. The $22,500 in funds for this antigraffiti pole sleeves project is being carried forward into It is recommended that the Chinatown BIA s 2011 budget of expenditures totalling $287,081 and a BIA levy of $206,643 be approved. The Corso Italia BIA 2011 Operating was approved at meetings of the BIA s Board of Management and its general membership both held on October 26,. The 2011 proposed budget reflects the BIA's priorities to undertake new and continue projects that will bring shoppers back to St. Clair Corso Italia, from beautification to graffiti removal, to have seasonal events on relevant dates of the year, to embellishment of the streetscape and make it more attractive to consumers going to shop or simply walking about in the St. Clair Corso Italia area. The 2011 proposed budget of $322,548 in expenditures is $51,000 or 19% greater than in. allocations include $43,650 for general BIA administration as more BIA coordinator services will be required; $33,000 for streetscape improvement capital cost-shared projects such as banner and hanging basket hardware, flower planters and gateway features; $10,000 for new banners; $58,975 for increased capital maintenance and graffiti removal; $139,300 for marketing, increased advertising and seasonal promotional events and festivals; and $15,000 to develop a more relevant consumer oriented website. The BIA proposes to maintain the same levy as in, but use $38,000 of accumulated funds earmarked for capital costshared projects and use the appeal provision surplus of $23,692 that the City is returning to the BIA in 2011, as well as $12,000 of GST/HST recoveries. A projected operating surplus of $55,291 is expected in resulting from the receipt of a $30,000 Shop St. Clair grant from the City and discontinuing the branding project. It is recommended that the Corso Italia BIA s 2011 budget of expenditures totalling $322,548 and a BIA levy of $248,856 be approved. The Crossroads of the Danforth BIA 2011 Operating was approved at meetings of the BIA s Board of Management and its general membership both held on October 14,. The BIA proposes a balanced budget having expenditures of $78,115 and revenues from a BIA levy requirement similar to that in and the appeal provision surplus of $3,888 that the City is returning. Other revenues anticipated include $1,129 in sponsorships of the BIA's summer festival and $7,173 in GST/HST recoveries. Proposed expenditures include $34,324 for general BIA administration; an increased budget of $19,210 for flowers, winter greenery and floral care, capital maintenance and graffiti removal; and $18,588 for increased advertising, marketing and an expanded Summer Festival promotional event. The proposed operating budget reflects the BIA s priorities to improve the commercial vitality and viability of the area by expanding its existing commercial business base through organization and collaboration, identity branding and undertake new marketing initiatives and streetscape improvements. It is recommended that the Crossroads of the Danforth BIA s 2011 budget of expenditures totalling $78,115 and a BIA levy of $65,925 be approved. Staff report for action on 2011 BIA Operating s: Report No. 1 8

9 The Dovercourt Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management and its general membership both held on October 13,. The proposed budget reflects the BIA's 2011 priority to implement solar pedestrian scale lighting, a capital cost-shared project. This project is funded in part by $10,000 of funds already accumulated for this purpose. The BIA proposes to maintain a similar levy as in to fund the capital project, capital maintenance, and general BIA administration. To provide a balanced budget, the BIA will utilize the appeal provision surplus of $600 and $200 of expected interest income. An operating surplus of $1,047 is forecasted at year-end from not producing a proposed newsletter; these funds will be saved for future capital cost-shared projects. It is recommended that the Dovercourt Village BIA s 2011 budget of expenditures totalling $17,578 and a BIA levy of $6,778 be approved. The Downtown Yonge BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 28, and its general membership on November 10,. The proposed 2011 budget follows from the Board and BIA management team s Strategic Plan; the budget seeks to continue the BIA s core initiatives that focus on clean streets, safety, marketing, and streetscape improvements. At the same time, the budget also continues to focus on association management, research and information, and advocacy. The budget provides for increased investment in Downtown Yonge s signature Winter Magic events during the holiday season, a critical time for retail and hospitality. Streetscape improvement projects include continuation of the pedestrian lighting project final Phase IV; installation of trees and tree gratings, electrical service duct installations; and developing streetscape technical designs for the Victoria/Dundas Square area. Overall, the total levy of $2,393,542 represents an increase of $126,674 which is a 5.6% increase over the budget. Marketing revenues anticipated from event sponsorships and advertising, plus other income, totalling $77,536 will help offset some of the marketing and event costs. To provide a balanced budget, the BIA will utilize the appeal provision surplus of $47,049 that the City is returning in It is recommended that the Downtown Yonge BIA s 2011 budget of expenditures totalling $2,518,127 and a BIA levy of $2,393,542 be approved. The Gerrard India Bazaar BIA 2011 Operating was approved at meetings of the BIA s Board of Management on August 3, and its general membership on November 10,. The balanced budget with expenditures of $221,760 will be funded by revenues from a BIA levy that is the same as in ; the appeal provision surplus of $10,122; anticipated festival sponsorships of $70,000; and other revenues of $4,300. The proposed budget provides for marketing and numerous promotional events/festivals including the BIA's signature event, Festival of South Asia; new banners; ongoing capital maintenance and graffiti removal; and general BIA administration. It is recommended that the Gerrard India Bazaar BIA s 2011 budget of expenditures totalling $221,760 and a BIA levy of $137,338 be approved. The Greektown on the Danforth BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 15, and its general membership on September 30,. The BIA proposes to maintain the same levy as in to fund Staff report for action on 2011 BIA Operating s: Report No. 1 9

10 operating expenses in 2011, and use $350,000 of accumulated funds earmarked for capital cost-shared projects to implement Phase 1 of the Streetscape Master Plan. Planned expenditures include increased general BIA administration spending driven by the necessity for additional BIA coordinator resources; capital cost-shared projects for pedestrian lights and streetscape improvements; allocating $15,000 to a capital reserve for future capital projects; ongoing capital maintenance and poster removal/parkette cleaning; increased advertising and marketing; and holding the same number of promotional and community events as in. As recommended by the BIA s auditor, the BIA budget separates out the total estimated revenue and expenditures for the Taste of the Danforth event; the 2011 budget for this signature event reflects actual expense and revenue levels. The BIA anticipates $325,000 in sponsorships, $32,000 in federal/ provincial grants and $30,000 in festival revenue to offset the costs of the very popular Taste of the Danforth Festival. To provide a balanced budget, the BIA also expects $15,000 of interest income, $20,000 of GST/HST recoveries and the appeal provision surplus of $40,350 that the City is returning to the BIA. The pedestrian lighting capital cost-shared project has been delayed but is anticipated to start in the Fall of. It is recommended that the Greektown on the Danforth BIA s 2011 budget of expenditures totalling $1,238,226 and a BIA levy of $425,876 be approved. The Harbord Street BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 20, and its general membership on November 10,. The BIA proposes a balanced budget consisting of $21,686 in expenditures and the same amount in revenues obtained from a BIA levy of $20,174 and the appeal provision surplus of $1,512 that the City will be returning to the BIA in expenditures include $2,052 for general BIA administration; $750 for new flower pots, a non-costshared capital project; $8,450 for capital maintenance; and $8,600 for advertising, promotional events and the very popular Fall street festival The Great Harbord Street Pumpkin Festival. It is recommended that the Harbord Street BIA s 2011 budget of expenditures totalling $21,686 and a BIA levy of $20,174 be approved. The Kennedy Road BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 20, and its general membership on October 27,. The BIA proposes a balanced budget by maintaining the same levy as in to fund advertising and promotional initiatives, capital maintenance, an ongoing security program, general BIA administration, and continue with the boulevard streetscaping project. The planned capital cost-shared project deferred from to 2011 for the installation of median globe lights is funded by $50,000 already reserved for this purpose. To provide a balanced budget, the BIA expects other revenues of $9,000 from GST/HST recoveries, $7,000 of interest income, and the appeal provision surplus of $14,498 that the City is returning to the BIA. As a notation, in the Kennedy Road BIA had to draw on its accumulated surplus funds to make a $106,631 levy repayment to the City pertaining to a property that was incorrectly charged a BIA levy by the City for multiple years; this is reflected in the projected actual administration expense line. It is recommended that the Kennedy Road BIA s 2011 budget of expenditures totalling $324,425 and a BIA levy of $243,927 be approved. Staff report for action on 2011 BIA Operating s: Report No. 1 10

11 The Korea Town BIA 2011 Operating was approved at meetings of the BIA s Board of Management on August 17, and its general membership on September 30,. The proposed budget supports the BIA's 2011 priorities of improving the streetscape with floral street planters and promoting the area's businesses through the enlarged Korean Dano Spring Festival. The budget of expenditures totalling $121,300 includes $24,449 for general BIA administration; $39,504 for increased capital maintenance; $50,000 for the Korean Dano Spring Festival event; and $1,350 for marketing. In addition to a levy requirement of $65,964, the BIA expects $50,000 in sponsorships of the Spring Festival, the appeal provision surplus of $3,236 that the City is returning, and other revenues of $2,100 to provide a balanced budget. It is recommended that the Korea Town BIA s 2011 budget of expenditures totalling $121,300 and a BIA levy of $65,964 be approved. The Lakeshore Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 6, and its general membership on November 2,. The balanced budget reflects a similar levy as in to fund general BIA administration, capital maintenance, advertising and promotional expenditures. The BIA will use $9,000 of its accumulated funds reserved for future capital cost-share projects to partly fund the ongoing Community Square improvement project. Other proposed capital projects to be undertaken by the BIA in 2011 include banners, benches, solar lighting, and a mural. To balance the budget, the BIA expects $1,000 of GST/HST recoveries and utilize the appeal provision surplus of $4,728 that will be returned to them by the City. It is recommended that the Lakeshore Village BIA s 2011 budget of expenditures totalling $75,049 and a BIA levy of $60,321 be approved. The Little Portugal BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 6, and its general membership on November 3,. The proposed budget reflects the BIA's continued focus on streetscape improvement, beautification and marketing the area. The balanced budget comprises of $79,625 in expenditures and revenues from a BIA levy that is the same as in, the appeal provision surplus of $1,957 that the City is returning, and $28,000 of funds already accumulated for the streetscape improvement capital cost-shared project. ed expenditures include $3,510 for general BIA administration; $50,000 to implement Phase 2 of the infrastructure for future pedestrian lighting; $14,000 for capital maintenance and the graffiti removal program; and $7,600 for marketing and promotion of the area. It is recommended that the Little Portugal BIA s 2011 budget of expenditures totalling $79,625 and a BIA levy of $49,668 be approved. The Mimico Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 5, and its general membership on November 9,. The proposed budget reflects the expanded BIA's priority to implement the same streetscape improvements to the expanded area as in the original BIA boundary. Capital cost-shared projects to be undertaken include new flower planters and new banners for the expansion area. With increased levies from an expanded BIA and using $2,500 of accumulated funds earmarked for capital cost-shared projects and the appeal provision Staff report for action on 2011 BIA Operating s: Report No. 1 11

12 surplus of $1,733 the BIA will be able to fund the capital cost-shared projects, capital maintenance, advertising, newsletter, the annual Tulip Festival promotional event and general BIA administration expenditures. The balanced budget also assumes GST/HST recoveries of $200. It is recommended that the Mimico Village BIA s 2011 budget of expenditures totalling $24,213 and a BIA levy of $19,780 be approved. The Mirvish Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 7, and its general membership on October 16,. The BIA proposes to use $21,199 of its accumulated surplus funds to cover operating expenses instead of levying its members in 2011, since no major capital projects are planned for the near future. ed expenditures include $5,688 for general BIA administration and project coordination; $3,500 for small capital projects (banners; year-round lighting); $5,000 for a mural project; $8,411 for maintenance of the flower planter program and general maintenance in support of the City s Clean and Beautiful City initiative; and $5,700 for marketing and promotional initiatives. To provide a balanced budget, the BIA expects a grant of $5,000 from the City's Mural Program; $1,000 in GST/HST recovery; $500 of interest income; and the appeal provision surplus of $600 that the City is returning to the BIA. It is recommended that the Mirvish Village BIA s 2011 budget of expenditures totalling $28,299 and no BIA levy requirement be approved. The Mount Pleasant BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 21, and its general membership on November 1,. The BIA continues to focus its efforts on branding and street beautification by proposing an increased budget for 2011 having expenditures of $262,870 and revenues from a BIA levy similar to that in and using $96,000 of its accumulated surplus to fund capital cost-shared projects and a street festival. In addition to these revenue sources, the BIA is expecting GST/HST recoveries of $15,000 and will be receiving the appeal provision surplus of $2,874 that is held by the City. ed expenditures include $54,125 for general BIA administration including the hiring of a temporary fulltime BIA coordinator; $55,000 for banner poles which is a capital cost-shared project; $10,000 for BIA banners which are not cost-shared with the City; $26,000 for flowers and floral care for the hanging baskets and seasonal decorations; $54,200 for advertising and marketing to promote the businesses in the area; and $50,000 for a street festival in the Spring. An operating surplus of $21,584 is projected in as some proposed streetscape improvement projects could not be implemented due to Toronto Hydro and City restrictions. It is recommended that the Mount Pleasant BIA s 2011 budget of expenditures totalling $262,870 and a BIA levy of $148,996 be approved. The Pape Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 13, and its general membership on November 2,. The BIA proposes an 11% increase in the expenditure budget to $71,704 and a corresponding 11% increase in the levy requirement to $67,093 to support improved maintenance, increased promotion and advertising initiatives, undertake three streetscape improvement capital projects (new banners; custom street signage; pole wraps) and for general BIA administration. To provide a balanced budget, the BIA will utilize the Staff report for action on 2011 BIA Operating s: Report No. 1 12

13 appeal provision surplus of $1,011 that the City is returning and expects other revenues including $2,000 in festival revenue, $1,500 of GST/HST recoveries and $100 of interest income. It is recommended that the Pape Village BIA s 2011 budget of expenditures totalling $71,704 and a BIA levy of $67,093 be approved. The Queen Street West BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 26, and its general membership on November 17,. In 2011 the Queen Street West BIA will continue to focus on the beautification and promotion of the area. Projects include banner installation with the new BIA logo, a lighting streetscape plan, the creation of signature events and the continuation and expansion of successful events from. To do this, the BIA proposes a 16% larger operating budget having expenditures of $235,211 and revenues from an 18% increase in the BIA levy to $197,975, anticipated sponsorships of $30,000, estimated GST/HST recoveries of $1,200 and the appeal provision surplus of $6,036 to fund 2011 initiatives. ed expenditures include $69,323 for general BIA administration and additional work hours that will be required of the BIA coordinator in 2011; $12,450 for capital cost-shared projects for new banners and illuminated gateway features; $56,000 to be reserved for future streetscape improvement capital cost-shared projects; $26,640 for graffiti removal; $3,000 for website maintenance; $25,000 to produce the enlarged Out of Site event that is held in conjunction with Nuit Blanche; and $24,800 to develop new promotional events to promote the new BIA. The proposed operating budget reflects the BIA s priorities to undertake the aforementioned small streetscape improvement projects to enhance the appearance of the area, to promote the businesses in the area and capitalize upon the area s profile as a tourist destination through participation in City-wide events. It is recommended that the Queen Street West BIA s 2011 budget of expenditures totalling $235,211 and a BIA levy of $197,975 be approved. The Riverside District BIA 2011 Operating was approved at meetings of the BIA s Board of Management on November 3, and its general membership on November 25,. The balanced budget of $163,420 in expenditures and revenues reflects the BIA's priorities to continue with beautification of the neighbourhood and expand its two annual events/festivals. The BIA proposes to maintain the same levy as in and use $10,000 of accumulated funds reserved for capital cost-shared projects. Other revenues expected include $5,000 in event sponsorships, $1,000 of interest income and the appeal provision surplus of $10,394 that the City is returning. ed expenditures include $57,563 for general BIA administration and a permanent BIA coordinator; $10,000 for tree grates, a capital cost-shared project; $42,200 for capital maintenance and graffiti removal; and $41,200 for marketing and promotion. It is recommended that the Riverside District BIA s 2011 budget of expenditures totalling $163,420 and a BIA levy of $137,026 be approved. The Roncesvalles Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 20, and its general membership on October 27,. The BIA s key priorities in 2011 are to complete the streetscape improvements in conjunction with the City's sidewalk reconstruction and then to promote Staff report for action on 2011 BIA Operating s: Report No. 1 13

14 the Roncesvalles area through various marketing and promotional initiatives. Two-thirds or $234,700 of the 2011 expenditure budget of $367,460 will be spent on marketing, advertising and promotional events including a proposed fall festival. The remaining budget of expenditures includes $40,000 for streetscape improvement capital cost-shared projects; $35,431 for capital maintenance, flowers and floral care, and graffiti removal; and $42,129 for general BIA administration. The BIA plans to maintain the levy requirement at the same level as in and use $40,000 of funds already accumulated for the streetscape improvement project. To balance the budget and cover costs, the BIA expects other revenues including $50,000 from the provincial government for the proposed fall festival; $50,000 in sponsorships of events; $32,096 in festival revenue from booth rentals; and $14,500 in GST/HST recoveries, grants and interest income. In addition, the BIA will be receiving the appeal provision surplus of $13,665 back from the City. It is recommended that the Roncesvalles Village BIA s 2011 budget of expenditures totalling $367,460 and a BIA levy of $167,199 be approved. The Rosedale Main Street BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 22, and its general membership on October 13,. In 2011, the BIA will be focussing predominantly on promoting its member businesses through the implementation of its marketing plan. This is reflected in the expenditure budget by the allocation of $144,000 for advertising and marketing/ promotional initiatives. The other priority is implementing the Yonge-Roxborough intersection improvements capital cost-shared project that was deferred from, with funds of $30,000 already accumulated for this purpose. Other budget provisions include $118,400 for ongoing capital maintenance and graffiti removal; and $64,210 for general BIA administration. The balanced budget assumes a 2.3% increase in the levy requirement to $276,849 in 2011, and using $60,000 of surplus funds for promotional/marketing initiatives and the appeal provision surplus of $14,829 that the City is returning to the BIA. The BIA also expects $100 of interest income to help offset operating expenses in Due to delayed implementation of the BIA's marketing plan to the 4 th quarter of, an operating surplus of $10,839 is projected in. It is recommended that the Rosedale Main Street BIA s 2011 budget of expenditures totalling $381,778 and a BIA levy of $276,849 be approved. The Sheppard East Village BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 15, and its general membership on October 26,. With construction of the Sheppard LRT line scheduled to commence in March 2011 in the Sheppard East Village BIA area, the BIA s priorities will be on increasing promotion and advocacy, as well as increase advertising and implementing a "Shop Sheppard East" initiative. To accomplish this, the BIA proposes to increase the levy by 15% to $99,475. These levies, along with the appeal provision surplus of $14,578 will fund general BIA administration, maintenance, a non-cost-shared capital project for signage, advertising, promotion and advocacy. Due to the postponement of the BIA s planned streetscape improvements, $108,900 of the BIA s unused funds along with $7,100 of the appeal provision surplus, for a total of $116,000, will be invested and reserved for future implementation of the BIA s strategic plan and streetscape master Staff report for action on 2011 BIA Operating s: Report No. 1 14

15 plan. It is recommended that the Sheppard East Village BIA s 2011 budget of expenditures totalling $222,953 and a BIA levy of $99,475 be approved. The Beach BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 20, and its general membership on October 20,. ed expenditures in 2011 are maintained at levels for general BIA administration, capital maintenance and graffiti removal, and advertising and promotional activities. The only significant changes to the budget is an additional $10,000 in spending for website development along with social media presence expansion and to raise $40,000 through the 2011 levy for a future capital cost-share project for freestanding light poles. To fund the base budget and these new initiatives, the BIA proposes to increase the levy by 27.5% or nearly $50,000 to $230,893 in In addition to the levy, the BIA will be using the appeal provision surplus of $16,080 that the City is returning. Other anticipated revenues of $5,000 and expected sponsorship revenue of $6,000 will help produce a balanced budget. It is recommended that The Beach BIA s 2011 budget of expenditures totalling $257,973 and a BIA levy of $230,893 be approved. The Danforth BIA 2011 Operating was approved at meetings of the BIA s Board of Management and its general membership both held on October 18,. The BIA proposes to increase spending by 15.5% in 2011 with an expenditure budget of $336,991 to support the BIA's efforts in these key areas: new business development; Danforth Experience events; and street beautification. The proposed budget allocates $84,860 for general BIA administration; $50,000 towards capital cost-shared projects; $85,346 for ongoing capital maintenance and graffiti removal; and $91,925 for marketing and promotional/special events such as the Danforth Experience Event Series and to complete the BIA's business development plan. Planned streetscape improvement capital costshared projects include up-lighting for trees; anti-graffiti pole sleeves; new planter test project; and bridge lighting support materials. To fund all these activities and provide a balanced budget, the BIA proposes to increase the levy requirement by 9.3% to $273,455; use $25,000 of funds accumulated for capital cost-share projects; and use the appeal provision surplus of $11,536 that the City is returning. Other revenues anticipated include $12,000 of sponsorships and $15,000 from GST/HST recoveries. An operating surplus of $13,882 is projected in as a result of deferring various proposed capital projects to It is recommended that The Danforth BIA s 2011 budget of expenditures totalling $336,991 and a BIA levy of $273,455 be approved. The Eglinton Way BIA 2011 Operating was approved at meetings of the BIA s Board of Management on September 1, and its general membership on October 6,. The BIA proposes a balanced budget of $285,533 in expenditures and the same amount in revenues obtained from a BIA levy of $251,669 that is 4% higher than in ; interest income of $1,000; GST/HST recoveries of $12,000 and the appeal provision surplus of $20,864 that the City is returning to the BIA. ed expenditures include $66,040 for general BIA administration; $73,000 for capital maintenance and street cleaning; and $82,750 for increased advertising, marketing and promotion; and allocate $40,864 towards future capital cost-share projects for year round decorative lighting and gateway arch lighting. An operating surplus of $29,156 is projected in Staff report for action on 2011 BIA Operating s: Report No. 1 15

16 resulting from savings in snow clearing and deferral of the year round lighting capital project; these unused funds will be reserved for the aforementioned capital cost-shared lighting projects. It is recommended that The Eglinton Way BIA s 2011 budget of expenditures totalling $285,533 and a BIA levy of $251,669 be approved. The Kingsway BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 13, and its general membership on November 15,. With a larger appeal provision surplus of $34,113 being returned to the BIA in 2011, the BIA proposes to decrease the levy requirement by 2% to $360,930, while funding general BIA administration; streetscape improvement capital projects; ongoing capital maintenance and graffiti removal; and marketing and promotional events including the popular Taste of the Kingsway Festival. The BIA will use $20,958 of funds already accumulated for future capital projects towards the Montgomery Bloor Parkette renovation, a cost-shared capital project with the City. To produce a balanced budget, the BIA expects other revenues of $12,750 from GST/HST recovery. The proposed budget reflects the BIA's priorities to improve the streetscape, enhance the BIA's signature Taste of the Kingsway Festival, and increase marketing and promotion of the area businesses. An operating surplus of $18,132 is expected in resulting from a GST rebate that was not budgeted for and from delays or deferral of various capital projects. These surplus funds will be saved for future capital cost-shared projects. It is recommended that The Kingsway BIA s 2011 budget of expenditures totalling $428,751 and a BIA levy of $360,930 be approved. The Waterfront BIA 2011 Operating was approved at meetings of the BIA's Board of Management and its general membership both held on November 25,. After a very ambitious, with the production of a $1.5 million festival called The Redpath Toronto Waterfront Festival, an international tall ships event that created $138 million in economic impact for the area, The Waterfront BIA will now focus its efforts in 2011 on marketing and promotion of the area, sponsorship development and raising funds of $100,000 through the BIA levy for a future streetscape improvement capital project. The BIA proposes to maintain a similar levy as in to fund general BIA administration, purchase office furniture and equipment, undertake a non-cost-shared capital project for winter lights enhancement, capital maintenance, marketing and advertising, and seasonal promotional events. As well, the 2011 BIA levies will go towards funding an appeal provision deficit of $72,908 and a forecasted cumulative operating deficit of $54,889 by year-end. In addition to the levy requirement, the BIA expects other revenues to offset expenses, including $170,000 in event sponsorships and bus shuttle sponsor investments; $15,000 of GST/HST recoveries; and $1,000 of interest income. It is recommended that The Waterfront BIA's 2011 budget of expenditures totalling $876,577 and a BIA levy of $690,577 be approved. The Toronto Entertainment District BIA 2011 Operating was approved at meetings of the BIA s Board of Management on October 13, and its general membership on November 18,. The proposed budget reflects the BIA s priorities and initiatives identified in the Master Plan. The BIA will start Phase 1 of the Master Plan with technical design drawings for streetscape improvements to John Street and Staff report for action on 2011 BIA Operating s: Report No. 1 16