City Council approved the first reading of two bylaws that aim to support downtown businesses during the COVID-19 pandemic.
Readings of Bylaw 6219, the 2020 Downtown Business Improvement Area (DBIA) Tax Bylaw, and Bylaw 6220, 2020 Downtown Business Improvement Area Tax Rate Bylaw, were both approved unanimously.
Bylaw 6219 authorizes City Council to impose a 2020 tax on all businesses operating in the DBIA and directs the City Assessor to prepare 2020 business assessments. Bylaw 6220 will raise the tax revenue included in the 2020 DBIA budget as approved by City Council at the March 23 meeting.
"Ensuring we have a stable economy and being good financial stewards for our city are a top priority of City Council," says Mayor Chris Spearman. "With today's readings, we are showing that we are continuing to show support for our business community."
"We want to continue working for our downtown businesses," says Councillor and Heart of Our City Committee member, Mark Campbell. "Now more than ever with the onset of the COVID-19 pandemic, they need to know we are here for them."
City Council must pass both Bylaws before May 1, pursuant to section 20 of the Business Improvement Area Regulation. Second and third readings will occur at the April 20 council meeting.
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