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Bylaw No. 1699-2007

Abbotsford East Downtown Business Improvement Area Bylaw

Consolidated and printed by authority of the Corporate Officer under section 139 of the Community Charter. Includes amendment bylaws 2818-2018 . Last amended August 28, 2018

Contents
 1 Citation
 2 Area designation
 3 Grant recipient and amount
 4 Annual budget
 5 Expenditure
 6 Recovery
 7 Accounting
 8 Indebtedness
 9 Insurance
 10 Term and expiry
 11 Bylaw repealed
Schedule "A"
Schedule "B"

The Council of the City of Abbotsford, in open meeting assembled, ENACTS AS FOLLOWS:

Citation

1   Bylaw No. 1699-2007 may be cited as "Abbotsford East Downtown Business Improvement Area Bylaw, 2007".

Area designation

2   Those lands located within the boundaries of the area shown boldly outlined on the map attached as "Schedule A" are designated as the "Abbotsford East Downtown Business Improvement Area".

Grant recipient and amount

3   (a) Subject to Subsections 3 (b), (c) and (d) and all other conditions and limitations of this Bylaw, an annual grant of money is hereby given to the Abbotsford Downtown Business Association in an amount equal to one fifth of one per cent (0.2 %) of the net taxable assessed value, for general purposes, of all land and improvements within the boundaries of the Abbotsford East Downtown Business Improvement Area prescribed as Class 5 and Class 6 under the Assessment Act and regulations thereto, other than land and improvements that are exempt under the Community Charter or another Act in relation to the tax.

(b) If, in any year within the first five (5) years of the term of this Bylaw, the amount of the annual grant established by Section 3 (a) equals or exceeds $300,000:

(i) the annual grant for that year and for each of the remaining years of the first five year period shall be set at $300,000; and

(ii) the annual grant beginning in the sixth year of the term of this Bylaw shall be $300,000, increasing annually thereafter by a compounded rate of 3% in each of the remaining 15 years of the term of this Bylaw.

(c) If, in any year after the first five (5) years but before the first ten (10) years of the term of this Bylaw, the amount of the annual grant established by Section 3 (a) equals or exceeds $300,000, the annual grant for that year shall be set at $300,000, increasing annually by a compounded rate of 3% in each succeeding year of the term of this Bylaw.

(d) If, in any year after the first ten (10) years of the term of this Bylaw, the amount of the annual grant established by Section 3 (a) equals or exceeds $600,000, the annual grant for that year shall be set at $600,000, increasing annually by a compounded rate of 3% in each succeeding year of the term of this Bylaw.

Annual budget

4   The Abbotsford Downtown Business Association shall, on or before the 15th day of March in each year during the term of this Bylaw, submit its annual budget to the Council for approval. Upon approval of the annual budget, the annual grant funds shall be paid to the Abbotsford Downtown Business Association on, or before the 15th day of August in each year.

Expenditure

5   The money granted under Section 3of this Bylaw shall be expended only by the Abbotsford Downtown Business Association in accordance with the conditions and limitations set out in this Bylaw and only for the following business promotion scheme:

(a) conducting studies and/or making reports relating to the Abbotsford East Downtown Business Improvement Area;

(b) improvement, beautification or maintenance of streets, sidewalks, or City owned lands, buildings or structures within the Abbotsford East Downtown Business Improvement Area;

(c) removing graffiti from buildings and other structures within the Abbotsford East Downtown Business Improvement Area;

(d) conserving heritage property within the Abbotsford East Downtown Business Improvement Area; and

(e) encouraging businesses within the Abbotsford East Downtown Business Improvement Area.

Recovery

6   All of the money granted to the Abbotsford Downtown Business Association pursuant to Section 3 of this Bylaw shall be recovered by means of a local service tax levied in the form of a property value tax under Division 3, Part 7 of the Community Charter on land and improvements located within the boundaries of the Abbotsford East Downtown Business Improvement Area and prescribed as Class 5 and Class 6 under the Assessment Act and regulations thereto.

Accounting

7   The Abbotsford Downtown Business Association shall, on or before the 28th day of February in each year during the term of this Bylaw, account for all money granted under this Bylaw during the previous year by submitting for Council's approval a financial statement, including a balance sheet and a statement of revenue and expenditure, prepared on a calendar-year basis in accordance with generally accepted accounting principles.

Indebtedness

8   The Abbotsford Downtown Business Association shall not incur any indebtedness or other financial obligations beyond its approved budget in each year.

Insurance

9   (9.1) The Abbotsford Downtown Business Association shall obtain and maintain in force during the term of this Bylaw, a policy or policies of insurance in accordance with the requirements of Schedule "B" of this Bylaw.

(9.2) A certified copy of each such policy of insurance shall be delivered to the Officer of Corporate Finance of the City of Abbotsford on or before the 15th day of April in each year.

Term and expiry

10   This Bylaw will remain in effect for a period of twenty (20) years from the date of its adoption.

Bylaw repealed

11   City of Abbotsford Bylaw No. 1313-2004, cited as "Abbotsford East Downtown Business Improvement Area Bylaw, 2004", and all amendments thereto, are repealed.

READ A FIRST TIME on November 19, 2007 READ A SECOND TIME on November 19, 2007 READ A THIRD TIME on November 19, 2007 ADOPTED on April 28, 2008

Schedule "A"

Schedule "B"

Insurance Specifications

1.   The Abbotsford Downtown Business Association shall obtain and maintain Comprehensive General Liability insurance coverage acceptable to the City of Abbotsford and subject to limits of not less than Two Million Dollars ($2,000,000), inclusive per occurrence for bodily injury, death and damage to property, including loss of use thereof. The insurance shall cover anyone employed directly or indirectly by the Abbotsford Downtown Business Association.

2.   The City of Abbotsford shall be added as an additional insured under the Comprehensive General Liability policy, which policy shall include a cross liability clause.

3.   The Comprehensive General Liability policy shall contain an endorsement to provide that the policy shall not be canceled, lapsed or materially altered without giving 30 days written notice to the City of Abbotsford.