The Stony Plain Road and Area BIA
A Business Improvement Area (BIA) is a unique opportunity for businesses to work together to accomplish mutual goals. Customers want safe, interesting and attractive places to shop, dine and conduct business. To attract these customers, a BIA can enhance an area through:
Joint Promotions & Festivals
BIA Business Association
Though set up and governed by a combination of provincial legislations and City policy, a BIA is initiated at the request of a business community. When a BIA is created, City Council establishes a business association, sets the BIA boundary, and approves a Board of Directors and annual budget. The budgeted amount is collected through a special tax levy of BIA members. Once established, City Council annually approves the BIA’s budget, Board of Directors, and special tax levy. All monies collected by the City are returned to the Business Association in quarterly instalments to fund the BIA’s initiatives.
A business association must meet several requirements each year:
- Produce an audited financial statement and annual report
- Conduct an annual general meeting for its members
- Nominate a Board of Directors
- Draft an annual budget
Many of Edmonton’s current BIAs have hired an Executive Director to ensure that these requirements are met and to advance the association’s initiatives.
Civic Coordinating Function
The Planning and Development Department provides the civic coordinating function for Edmonton’s BIAs. Staff provide consultative and planning services related to the establishment and ongoing operation of BIAs. Staff also prepare BIA reports and bylaws for City Council’s consideration.