SUMMERSIDE –Downtown Summerside, a non-profit organization of local business owners, landlords, tenants and stakeholders formed to promote, develop and enhance Summerside's downtown core, is receiving some financial backing from the city.
© Downtown Summerside Inc.
Deputy Mayor Bruce MacDougall, chairman of the city’s financial services committee, said Downtown Summerside will receive $73,000, including $25,000 in one-time funding, to supplement their Business Improvement Levy for the Business Improvement Area (BIA).
Traditionally, the BIA's budget is made up of a property assessment levy on the membership of 18 cents per $100 of assessment and a grant of $48,000 from the city totaling about $120,000.
Reasha Walsh, president of Downtown Summerside said now that the funding has been secured, the board of directors of the group will be meeting to see how these funds can be used to improve the core shopping district of the city.
“We’re thankful that the city took the time to meet with us and work with us,” Walsh said following Monday night’s budget address. “They’ve come forward with an offer for us. We do have to convene as a full board and discuss our next move. We’re optimistic about what Downtown Summerside can accomplish. We know that every successful city has a vibrant and thriving downtown and that’s what we aim to achieve. Hopefully, with the support of the city, we can do that.”
Walsh said there have been discussions between Downtown Summerside and the city over how then two can work together to improve the downtown core.
“With the budget coming through and they’re trying to balance it we put together pitch for them and they’ve come back and we’re going to discuss it as a full board at the end of the week and see what we’re going to do with it.”