All businesses in the area, whether professional, dining, entertainment, finance, or retail, may benefit from the improved local atmosphere and ambience that a successful BIA helps to create. It is the responsibility of each business to build upon the activities of the BIA and ensure that the customer receives best value in an efficient and courteous manner. An expanded customer base depends on the successful partnership between the activities of the association and individual businesses. The ultimate goal of the BIA is to provide an environment that supports the role of the area as a place for shopping,dining, entertainment and financial and professional services. BIA initiated improvements and activities may lead to an increase in property values.
Improvements help to create and sustain a more vibrant economic environment within the local area.
This attracts both commercial and service sector businesses to the area which, in turn, may lead to an increased demand for retail and office space and a subsequent increase in property values. Once the board of the BIA has prepared a budget and it has been approved, the municipality collects the money as a special levy on all industrial and commercial properties in the area. Funds are then transferred to the BIA organization to carry out its work. The BIA is managed by a board of management which is composed of property owners and business operators and at least one member of council. The board is appointed by council for a three-year term.