A Business Revitalization Zone (BRZ) is established by businesses in an area to jointly raise and administer funds to improve and promote their businesses.
Each BRZ board of directors annually establishes a budget to fund their activities. A tax rate is established for each BRZ to raise the required revenue to meet their budget requirements. City Council approves the establishment of BRZs, their annual budgets, and the annual tax rates.
Business revitalization zone levy
A BRZ levy is calculated as follows:
BRZ levy = Business assessment x BRZ tax rate
| Business revitalization zone |
Businesses |
Budget ($) |
2012 BRZ rate |
|---|
| Bowness |
59 |
45,100 |
0.02230 |
| Downtown Association |
3,050 |
1,473,437 |
0.00173 |
| Fourth Street South West |
214 |
204,500 |
0.01580 |
| Inglewood |
190 |
180,000 |
0.02550 |
| International Avenue |
390 |
236,400 |
0.01470 |
| Kensington/Louise Crossing |
261 |
175,520 |
0.01410 |
| Marda Loop |
123 |
152,142 |
0.02950 |
| Montgomery |
113 |
70,000 |
0.01610 |
| Uptown 17 |
379 |
396,500 |
0.02010 |
| Victoria Crossing |
285 |
*318,496 |
0.00660 |
First Street Improvement Area
(*part of Victoria Crossing BRZ) |
18 |
included in Victoria Crossing budget |
0.00730 |
