The boundaries were chosen in order to accommodate the greatest number of businesses within a similar streetscape. There is a natural geographic border north of Hendon St. and the Streetscape changes in this area. We encourage the businesses in the outlying areas to look into forming a BIA that can better serve the businesses and communities in those areas.
This is the second most common question asked regarding BIAs. Here we have provided information to help clarify the levies that businesses will be providing to the BIA, once it is established. It is important to state that a BIA’s levy is not in any way associated with taxes. Rather, the levy of a BIA is based on the assessment carried out by MPAC for each commercial property and is utilized by the BIA Board of Management, made up of local business owners and leaders, to directly support the businesses within the BIA’s boundaries.
We are proposing a levy rate of 0.03 to 0.04 percent per $100 of assessed property value. This will be one the lowest levies by any of the other 83 BIA’s in Toronto. Here are three examples of a levy for businesses of various property values on Yonge Street in the Willowdale area:
Example #1: $400,000 MPAC assessment – Average Office Condo
The average office condo in the area is assessed for $400,000.
Therefore, with a levy of 0.03% to 0.04%, would contribute approximately $120 to $160 per year.
Example #2: $2,000,000 MPAC assessment – Average Yonge St. Storefront
The average Yonge street store frontage is valued at about $2,000,000 and has a few business tenants, among whom the levy will likely be distributed.
A commercial property valued at $2M with a levy of 0.03% to 0.04% would contribute approximately $600 to $800 per year.
Example #3: $50,000,000 MPAC assessment – Large High-rise Commercial Properties
Among the almost 2,000 businesses along Yonge Street in Willowdale only a handful of properties are valued at $50M or more. Properties of this size tend to have dozens of business tenants, among whom the levy will likely be shared.
A commercial property valued at $50M with a levy of 0.03% to 0.04% would pay to the BIA approximately $15,000 to $20,000 per year.
There are 13 properties in the proposed BIA area in this category and combined they will contribute over 60% percent to the total budget.
The proposed dates of lane closures are from May through October 2021 (targeted dates subject to external conditions).
February 26 – March 26 2021
Period 1 Registration for CafeTO
March 27 – May 2021
Period 2 Registration for CafeTO
*Note: The expected date of curb lane closures by the City for Period 1 is May and for Period 2 is June, and will go until October 2021. In order to take full advantage of the patio season, we recommend registering as soon as possible in order to secure curb lane cafes.
One of our main goals is to help businesses get the resources they need to ensure their summer patio is a success. In addition to resources used towards the beautification of the curb lane patios, the BIA will be able to help restaurants gain access to other resources they may need.
For curbside pick-up orders, the plan is to designate side streets for curbside pick-up parking.
When there is limited impact on residential properties, it is considered to be included in the CafeTO plan.
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