13 th Annual General Meeting November 30, 2017 WBIA AGM 2017 - 2 - PowerPoint PPT Presentation

13 th Annual General Meeting November 30, 2017

WBIA AGM 2017 - 2 Opening Remarks Kevin Currie Chairman Board of Management, The Waterfront BIA This meeting is being recorded. Your questions and comments will be repeated by the presenter for our minutes.

WBIA AGM 2017 - 3 Welcome to our 13 th Annual General Meeting Since 2004, The Waterfront BIA has worked in partnership with the City to create a thriving, competitive, and safe business area that attracts shoppers, diners, tourists, and new businesses. By working collectively, local businesses have the organizational and funding capacity to be catalysts for civic improvement, enhancing the quality of life in their local neighbourhood and the City as a whole. Toronto now boasts 82 BIAs – the largest number in North America - representing more than 40,000 businesses. The world's first BIA was started in Toronto in 1970. Since then, this innovative public-private partnership model has been copied internationally. Focusing on street/sidewalk beautification, marketing and promotional campaigns, street festivals, clean street/graffiti-removal campaigns, and crime prevention strategies, BIAs also act as a unified voice to address issues on behalf of their membership. By working collectively, local businesses and property owners have the organizational and funding capacity to be catalysts for civic improvement, enhancing the quality of life in their local neighbourhood and the City as a whole. BIA members employ more than 400,000 people in full-time and part-time positions. Over 7 million people attend the more than 160 community events and street festivals supported and produced by BIAs throughout the year. ~ Source: City of Toronto www.toronto.ca

WBIA AGM 2017 - 4 Introductions - Board of Management and Staff Chairman of the Board - Founder Directors Craig Somers Kevin Currie City Sightseeing Toronto Shey Clark Wheel Excitement Great Lakes Schooner Philip Yan Vice-Chair GenesisXD Chris Hutchinson Cindi Vanden Heuvel Harbourfront Centre Mariposa Cruises Staff Treasurer Carol Jolly Stuart Jolliffe Ana Carreira Executive Director Westin Harbour Castle Brookfield Properties Nathalie Lalonde Emily Crema Secretary Radisson Admiral Operations Manager Rosie Middleton Briarlane Property Management Alison Pitfield Katherine Hebb Scotiabank Marketing Manager City Councillors Joe Cressy Jost Rittershaus Anna Sebert Councillor, Ward 20 FAB Concepts Member Services Manager Lucy Troisi Councillor, Ward 28 Udo Schliemann Angela Senis Entro Communications Administrative Assistant Henry Byres BIA Advisor, Economic Development

WBIA AGM 2017 - 5 Approval of 2016 Annual General Meeting Minutes Kevin Currie Chairman Board of Management, The Waterfront BIA Motion: A motion to approve the 2016 AGM Minutes.

WBIA AGM 2017 - 6 2016 Auditor’s Report Rafiq Dosani Auditor The Waterfront BIA

WBIA AGM 2017 - 7 2016 Auditor’s Report INDEPENDENT AUDITOR’S REPORT To the Council of the Corporation of the City of Toronto and the Board of Management for the Waterfront Business Improvement Area, I have audited the accompanying financial statements of Waterfront Business Improvement Area, which comprise the statement of financial position as at December 31, 2016 and the statement of operations and accumulated surplus, statement of changes in net financial assets and statement of cash flows for the year then ended, and the related notes which comprises a summary of significant accounting policies and other explanatory information. Opinion In my opinion, these financial statements present fairly in all material respects, the financial position of The Waterfront Business Improvement Area as at December 31, 2016 and the results of its operations and cash flows for the year then ended in accordance with Canadian accounting standards for local governments as prescribed by the Public Sector Accounting Board (PSAB). Toronto, Ontario Chartered Professional Accountant April 27, 2017 Licensed Public Accountant

WBIA AGM 2017 - 8 2016 Auditor’s Report 2016 2015 Statement of Financial Position $ $ As At December 31, 2016 FINANCIAL ASSETS Cash 252,218 116,857 Short-term investment (Note 3) 5,294 115,916 Accounts receivable City of Toronto - Special charges (Note 4) 406,420 467,858 Prepaid Expenses 79,297 3,893 Other 3,843 17,675 747,072 722,199 LIABILITIES Accounts payable and accrued liabilities City of Toronto - 13,975 Other 28,103 57,927 28,103 71,902 NET FINANCIAL ASSETS 718,969 650,297 NON-FINANCIAL ASSETS Tangible Capital Assets (Note 5) 35,622 46,313 ACCUMULATED SURPLUS 754,591 696,610

WBIA AGM 2017 - 9 2016 Auditor’s Report 2016 2016 2015 Statement of Operations and Accumulated Surplus Budget Actual Actual For the Year Ended December 31, 2016 (Note 10) REVENUE CITY OF TORONTO – SPECIAL CHARGES 704,100 742,712 1,075,795 Grants, sponsorships, interest and other 50,700 98,266 75,649 754,800 840,978 1,151,444 EXPENSES Administration 330,827 329,808 340,287 Promotion and advertising 357,000 315,022 484,834 Maintenance 20,500 18,377 10,193 Capital (Note 8) 125,000 1,435 533 Amortization 14,832 14,037 - Provision for uncollected special charges (Note 4) 3,473 103,523 37,469 836,800 782,997 887,353 SURPLUS (DEFICIT) FOR THE YEAR (82,000) 57,981 264,091 ACCUMULATED SURPLUS, BEGINNING OF YEAR 696,610 696,610 432,519 ACCUMULATED SURPLUS, END OF YEAR 614,610 754,591 696,610

WBIA AGM 2017 - 10 2017 Appointment of Auditor Kevin Currie Chairman Board of Management, The Waterfront BIA Motion: A motion to adopt the audited Financial Statements as presented. Motion: A motion to appoint Rafiq Dosani as the Auditor for the 2017 Financial Statements.

WBIA AGM 2017 - 11 2017 Highlights Carol Jolly Executive Director The Waterfront BIA

WBIA AGM 2017 - 12 2017 Strategic Framework & Tactical Plan We recently completed a Strategic Framework & Tactical Plan , authored by Live Work Learn Play (LWLP). The plan is the culmination of a 5-month process undertaken by LWLP, between February and June 2017, in collaboration with the WBIA and major stakeholders. It provides an overview assessment – from a real estate, planning and economic development perspective – of our challenges and opportunities , as well as a strategic framework incorporating implementable tactics to guide our future initiatives.

WBIA AGM 2017 - 13 2017 Strategic Framework & Tactical Plan Two overarching goals are considered most crucial to the successful evolution of The Waterfront BIA and the Central Waterfront, which guided the strategies developed in this plan: GOAL 1: Drive increased GOAL 2: Evolve Toronto footfall, visitation and overall from being a “city with a economic activity within waterfront” into a WBIA boundaries year-round , globally-competitive creating a thriving, and “Waterfront City”. attractive city destination.

WBIA AGM 2017 - 14 2017 Strategic Framework & Tactical Plan Following extensive outreach with key stakeholders and analysis of geographic and physical conditions, policy context, and current market realities, LWLP highlighted what is and is not working, as it relates to achieving our two stated goals. WHAT IS WORKING 1. The Water’s Edge: Our primary differentiator and driver of visitation and economy. 2. Proximity to Downtown Attractions: The massive number of tourists nearby is an untapped opportunity. 3. Significant Summer Visitation: The existing pool of potential customers can generate greater economic uplift and year-round footfall, if they are given compelling reasons to come to the area. 4. Some Successful Local Anchors: Certain commercial concepts generate consistent all-day, year-round traffic. 5. Beautified Public Realm: Significant public investment has transformed the area into highly attractive pedestrian space.

WBIA AGM 2017 - 15 2017 Strategic Framework & Tactical Plan WHAT IS NOT WORKING 1. Physical and Psychological Barriers to the Waterfront: Entering the area on foot is not always an enjoyable experience and can deter visitation. 2. Disconnected Pedestrian Environment: Several factors make it difficult for people walking through the area. 3. Lack of Reasons to Linger on the Street: Many visitors come to Queens Quay for a single purpose (e.g. Harbourfront Centre, the Island Ferry and Airport) and do not have other reasons to stay. 4. Lack of Winter Programming: Visitation and economy suffer in the winter as visitors lack reasons to come and are deterred by the cold weather. 5. Low Awareness of Activities: Current WBIA activities must be better communicated and promoted. 6. Many Stakeholders – One Waterfront: General lack of alignment of goals among Waterfront organizations.

WBIA AGM 2017 - 16 2017 Strategic Framework & Tactical Plan CORE STRATEGIES The Strategic Framework & Tactical Plan is underpinned by the following six strategies: Short & Medium-Term Strategies 1. Create a unified area of distinct places. 2. Create reasons to come year-round. 3. Improve north-south connections. 4. Evolve the role & scope of the WBIA. Longer-Term Strategies 5. Animate & use the water. 6. Celebrate & evolve the Islands.