Downtown Oakville Business Improvement Area 2017 Annual General Meeting Tuesday March 21, 2017 8:00 – 10:00 am The Oakville Centre for the Performing A rts
Welcome and Call to Order Thank you for coming – your input is important… Call to Order Declaration of quorum Conflict of interest Introductions: BIA Board • Nicholas Bourikas (Canadian Sound), Chair • Tim Danter (DriveWise), Vice-Chair • May Natour (CIBC), Treasurer • Anna Cammarata (Avante Boutique), Member • Kevin Yates (Aardvark Inc), Member • Julia Hanna (Ristorante Julia), Member • Mayor Rob Burton, Council Representative BIA Staff • Susan Johnston, Executive Director (Interim for Sharlene Plewman) • Brittany Goettler, Marketing Manager • Adina Ingram, Membership Coordinator • Paige Grasby, Events Coordinator
Approvals Approval of the 2017 AGM Agenda • Additions to Agenda? If yes, table and discuss as New Business item Approval of the 2016 AGM Minutes Approval/Confirmation of 2017 Auditor • The BIA is satisfied with the work of KPMG for the 2015 FINAL and 2016 DRAFT financial audits and recommends KPMG as 2017 auditor • Floor open for motions to confirm KPMG as the 2017 auditor
2016 Financial Review DRAFT Audited financial DOWNTOWN BIA 2016 FINANCIAL REVIEW - UNAUDITED statements same as AGM/Budget Meeting: March 21, 2017 unaudited statements: 2016 2016 2016 to 2016 • Revenue and Expense = Approved Prelim Actuals to Budget BUDGET ACTUALS % Change $ Change $1,021,160 • Expense includes $7,109 surplus to REVENUES: be transferred to reserve Tax Levy Town of Oakville 888,712 888,713 0.0% 1 Property Tax Write-Offs -40,000 -35,121 -12.2% 4,879 • 2016 ending reserve = $64,646 Total Tax Revenue $848,712 $853,592 0.6% 4,880 Financial statements to be Grants 25,140 27,313 8.6% 2,173 approved by Board in April Event Revenue 139,483 118,694 -14.9% -20,789 Other Revenue 14,000 21,561 54.0% 7,561 and posted to website. Transfer from Reserves 10,620 0 -100.0% -10,620 TOTAL REVENUES: $1,037,955 $1,021,160 -1.6% -$16,795 Floor open for motions to approve DRAFT audited EXPENSES: financial statements. Administration 355,761 351,341 -1.2% -4,420 Marketing and Advertising 302,467 288,290 -4.7% -14,177 Beautification 154,910 132,287 -14.6% -22,623 Events and Promotions 222,317 224,322 0.9% 2,005 Other Expense 2,500 17,810 612.4% 15,310 Transfer to Reserves (Surplus/Deficit) 0 7,109 7,109 TOTAL EXPENSES: $1,037,955 $1,021,160 -1.6% -$16,795 Budget vs. Actuals: • Actual event revenue lower – majority due to no ice rink in Dec ’16, therefore no event sponsorship revenue • Managed expense actuals to reflect lower revenue, through under spending and expense deferral to 2017
2016 Marketing Review Modified marketing channel strategy • Moving towards digital marketing – targeted display ads, social media – and away from traditional print advertising Positive improvements to date: • Video views > 100,000 views on Facebook, YouTube • Facebook – avg. monthly impressions at 45,000 up from 5,000, likes up 45% from Jan to 6,500 • Instagram followers >2,500, up from 333 in Jan • Increasing website traffic - +66,000 visits July - Dec While we are able to measure and see improvements in our digital efforts, we do not know how this impacts pedestrian traffic • In 2017, we will be testing technology to measure pedestrian traffic
2016 Beautification Review Continued with successful programs • Seasonal hanging baskets and summer barrels • Seasonal décor added – fall cornstalk décor well received, spring décor received mixed feedback • Daily sweeper program in spring/summer • Towne Square lawn replaced by the Town • Ongoing maintenance of lights in trees and on poles, considering modifications to address maintenance challenges • 45 ft. Christmas tree, decorated at no cost by Khachi • Banners require creative alignment, will be redesigned in 2017
2016 Events Review Events were added and enhanced without budget increase: Rolled out Summer series • 12 week, multi day, small scale events • Thurs night movie, Fri night music, Sat yoga + George St. farmers market, Sun giant games Enhanced Autumn Harvest series • Increased member participation in Towne Square and in- store Added Harvest Halton event • Halton Region sponsored, one day, culinary event Midnight Madness • Added more roaming entertainment Tree Lighting • Increased attendance required partial street closure • Added member pop up market on George St.
2016 Events -Images
2017 Marketing Create content • Engages the community in an up close and personal view of the businesses and owners in Downtown Oakville • Informs the community of the unique features of Downtown Oakville Target audience is Oakville • Focus on increased visit frequency from the Oakville community Communication channels • Focus on digital channels plus traditional outdoor/indoor channels within Oakville Develop graphic standards • Consistent look and feel to marketing communications across all channels Develop best practices paper on Marketing during Streetscape projects • Consult with other BIAs
2017 Beautification Interactive Beautification • Trend continues for photo based communication • Test small, frequently changing picture worthy elements that stand alone or are part of events Banners • Design new banners – spring/summer, fall, winter Record BIA Instagram post for Winter Chill with hundreds of likes. • For 2017 only – swap in Canada150 banners Community snapped many of their own pics too. New BIA area • Addition of hanging baskets/banners • Proposed addition of wrought iron planters on Randall St. railing Existing BIA area • Continue to maintain tree lights • Modify execution of pole lighting • Barrels/baskets similar to last summer • Discussing gateway feature for Streetscape project
2017 Events Event schedule modified to: • Spread budget more evenly throughout the year • Continue to add and expand on smaller series and segment focused events • Reduce spend allocated to single events and reallocate Most significant change is to the Jazz Festival: • TD Songs of Summer is the new event to replace the Jazz Festival • Includes all music genres plus visual and performing arts • All day, full street closure, family event ***************************************************************************** Objective of all BIA initiatives: INCREASE pedestrian traffic • Evaluating technology options for measuring pedestrian traffic • Retrofit in short term, build into Streetscape project • Measure throughout the year and during events PYRO-Box pedestrian counter (Brant St., Downtown Burlington)
2017 Event funding strategy Sponsorship and grant applications execution moved in house • Previously delivered through a third party, BIA Executive Director will execute Rationale for change • Develop direct and stronger relationships with sponsors • Reduction in cost associated with third party execution • BIA fully staffed, ED able to work on strategic projects Early results are positive • Secured +$50,000 in sponsorship of $119,409 goal • Recently awarded $25 K Celebrate Ontario grant Thank you to our 2017 sponsors to date:
2017 Budget Proposal 2017 Budget Proposal = $1,222,694 Increase of $201,534 vs. 2016 actuals • Existing BIA area tax levy budget increased by 2% to $906,500 • Remainder of proposed increase from expanded BIA area • Incremental budget: Approximately 75% to fund additional Marketing • Remainder to fund primarily start up Beautification costs in the new BIA • area Impact per $100,000 of assessed value $7.36 or 2.17% decrease • With average assessment of $1.8 million Current BIA levy = $6,180, Revised BIA levy = $6,046 •
2017 Budget Proposal Floor open for motions to approve proposed 2017 Budget Reserve fund balance year end 2016 is noted incorrectly. Actual is $64,646 as previously noted, not $54,026 as above.
Update – Expanded BIA area BIA boundary expansion request approved by Council in December 2016 Landlord notifications mailings completed by the Town in January In person delivery of Welcome Packages completed by the BIA in early February, further onboarding in progress May property tax statement will reflect 2017 BIA tax levy
Plans 2018 to 2020 and Beyond 2018 • Develop plans for marketing, beautification and events during Streetscape project • Continue to work with the Town on Streetscape Mitigation strategy • Continue to allocate higher portion of budget to Marketing, to ensure community is frequenting and engaged in Downtown Oakville 2019 – 2020 • Deliver modified execution plan for marketing, beautification and events based on construction plan • Introduction of new streetscape end of 2020 Questions on BIA update?
Town of Oakville Update Please welcome: • Dorothy St. George – Director, Economic Development • Paul Allen – Manager, Design and Construction Updates on: • Downtown Oakville Projects: 2016 Review, 2017 – 2021 plans • 2019/2020 Streetscape Project • Streetscape Mitigation framework
New/Other Business • Any new agenda items tabled for discussion Adjournment • Floor open for motions to adjourn meeting. Thank you
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