Following a successful start-up bid, the BIA sponsor holds an annual general meeting (AGM)
where Directors are elected, and the first year's budget is approved by both property owners
and tenants. In the first year, and in all subsequent years, the Municipality releases funds to
the BIA organization only after the property and business owners have approved the annual

budget at the AGM.

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As part of the start-up process, we will determine an appropriate budget and boundaries for
the proposed BIA - based on the objectives of the business community, and subject to support

from property owners.

The Next Steps
With Council's support, our next steps are as follows:

1. Articulate our vision and objectives for Downtown Port Coquitlam.

2. Prepare and distribute an information brochure and other written materials to describe
the BIA mechanism and the BIA proposal for Port Coquitlam.

Hold meetings with property owners and tenants to inform them about the proposed
BIA, and to secure their support.

Work with City Staff to ensure that Municipal requirements re: the Council Initiative
Process and BLA. Bylaw are fulfilled,

Assistance to Business Associations

The BIA start-up process requires considerable energy, time and resources, As a BIA
sponsoring agency, our task is to develop a promotional plan for our business area, and to
educate property owners and tenants about the BIA mechanism and the proposed Port
Coquitlam BIA. Our association is aware that other business communities in B.C. have
received Provincial funding assistance through the Ministry of Municipal Affairs, Recreation
and Housing's Downtown Revitalization Program.