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Meeting Date	Motion/ Resolution	Report Number	CLT Member/ Executive Director	Action
June 5, 2017	CR348/2017	C 83/2017	City Treasurer	That City Council RECEIVE the results of the Vacancy Rebate Program review for information; and, That City Council DIRECT that Administration make application to the Ministry of Finance requesting regulatory authority to restrict the vacancy rebate as it relates to individual annual applications within the Downtown Business Improvement Area as follows: Rebate for Main Street, Ground level Commercial Properties: (non-office towers) Year One – 100% of the 30% Year Two – 50% of the 30% Year Three – 0% of the 30% That Administration BE DIRECTED to bring forward, for consideration any savings, as attributed to changes in the vacancy rebate program, as part of the 2019 Operating Budget process for discussion; and, That subject to Ministerial consent, Administration BE DIRECTED to monitor the economic impact of the change to the vacancy rebate program within the Downtown Business Improvement Area for a period of five years and bring a report back to City Council for information; and, That City Council DIRECT Administration report back in 2018 as to the feasibility and potential impacts of limitations to the city-wide vacancy rebate program including: Application within the other 8 City Business Improvement Area’s Other properties located throughout the City where there are multi-year applications
June 5, 2017	CR351/2017	C 83/2017	City Treasurer	That the specific savings from the Vacancy Rebate Program (currently within the DWBIA) BE REPORTED BACK to Council with explicit options (within the DWBIA boundaries) for projects and/or possibilities for programs that would contribute to combating the empty storefronts, such as CIP’s or other mechanisms like facade grant programs; and further, that in future years as this is rolled out in other BIA’s, that the same /or similar explicit options within the respective BIA’s, be explored and reported back to Council.

Meeting Date

Motion/ Resolution

Report Number

CLT Member/ Executive Director

Action

Status

June 5, 2017

CR348/2017

C 83/2017

City Treasurer

That City Council RECEIVE the results of the Vacancy Rebate Program review for information; and,

That City Council DIRECT that Administration make application to the Ministry of Finance requesting regulatory authority to restrict the vacancy rebate as it relates to individual annual applications within the Downtown Business Improvement Area as follows:

Rebate for Main Street, Ground level Commercial Properties: (non-office towers)

Year One – 100% of the 30%
Year Two – 50% of the 30%
Year Three – 0% of the 30%

That Administration BE DIRECTED to bring forward, for consideration any savings, as attributed to changes in the vacancy rebate program, as part of the 2019 Operating Budget process for discussion; and,

That subject to Ministerial consent, Administration BE DIRECTED to monitor the economic impact of the change to the vacancy rebate program within the Downtown Business Improvement Area for a period of five years and bring a report back to City Council for information; and,

That City Council DIRECT Administration report back in 2018 as to the feasibility and potential impacts of limitations to the city-wide vacancy rebate program including:

Application within the other 8 City Business Improvement Area’s
Other properties located throughout the City where there are multi-year applications

June 5, 2017

CR351/2017

C 83/2017

City Treasurer

That the specific savings from the Vacancy Rebate Program (currently within the DWBIA) BE REPORTED BACK to Council with explicit options (within the DWBIA boundaries) for projects and/or possibilities for programs that would contribute to combating the empty storefronts, such as CIP’s or other mechanisms like facade grant programs; and further, that in future years as this is rolled out in other BIA’s, that the same /or similar explicit options within the respective BIA’s, be explored and reported back to Council.

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