It’s the first budget hike for the Downtown Renfrew BIA in a decade, but it does come with a catch.
Renfrew’s Economic Development Committee agreed on an $80,000 budget for the BIA next year as part of a motion that would also expand the BIA boundaries to reflect the Downtown Commercial designation, modify the BIA’s board to consist of 5 BIA members and 2 councillors, forgive a current loan for upgraded coach lights, garbage cans, bicycle racks, and benches, and more.
It’s not exactly the $95,000 the Downtown Renfrew BIA proposed, but it is a raise that Chief Administrative Officer Rob Tremblay says was sorely needed.
The catch is that the town needs to increase the tax levy on member businesses by an estimated 27% to make the budget work, something that had committee members worried about the potential shock to smaller businesses in the downtown core.
Tremblay would explain that there are ways to spread the burden out, like establishing minimum and maximum limits on how much a BIA business needs to pay, which would be part of the upcoming budget discussion.
One thing that he was clear on is that the current maximum, which three larger businesses each pay annually, is not the answer.
The committee approved the motion, which will now head to the council for consideration at their next meeting.
The BIA’s annual budget of $65,000 has not been adjusted since 2012 and had been $60,000 a year prior to that since at least 2006.
(written by Kasey Egan)
