The Downtown Improvement Reserve Fund Policy is:
a) to establish a reserve that is used exclusively for the Prince Albert Downtown Business Improvement District for projects or programs as approved by City Council; and,
b) to assist the Prince Albert Downtown Business Improvement District in their mission to facilitate the continuing development of a vibrant and prosperous downtown.
Each year $40,000 to added the PADBID Reserve Fund. The funds are the proceeds from parking meters fees.
Through the years funds have been used in a variety of ways for the benefit of the Downtown. Here are a few of the projects from 2019:
The Prince Albert Downtown Business Improvement District (PADBID) was established in 2003.
Starting in June 2002, over a six month process, workshops were held with stakeholders and focus groups to determine a shared vision for downtown Prince Albert.
The evaluation agreed that the focus should be primarily on smaller-scale development and incremental projects that emphasize the rehabilitation and renovation of existing space and building upon downtown’s strengths and assets. These include the following:
Downtown region map
How is the PADBID funded?
The PADBID receives it's funding from a 5.8% levy on businesses in the downtown region, which annually equals $78,000. The City of Prince Albert adds $22,000 in lieu of taxes on their downtown properties. Currently, the PADBID annual budget totals $100,000.
Prior to 2018 the PADBID also received $18,000 from the Province in lieu of taxes on their downtown properties but that was withdrawn with budget cuts.
Annually the PADBID receives $40,000 towards a Reserve Fund that receives it's funding from proceeds from parking meters.
The Downtown Improvement Reserve Policy is:
Our next blog post will go into further details about what projects the Reserve fund has been used for over the years.
Where are we in 2020? A new strategic plan in the fall of 2019 has provided these priorities:
Prince Albert has a lot to celebrate in our Downtown.
With it's diversity in locally owned shops, various organizations and office buildings, over 4,000 people work in the downtown. Developers have been renovating residential suites to a high standard and young professionals are enjoying living the downtown vibe.
The University of Saskatchewan has purchased the Forestry Building, which has brought a lot of support to the downtown. Due to their commitment to our City and specifically our historic Downtown we have seen an increase in new business and one of the lowest commercial vacancy rates in years.
The Arts community has been growing and developing and making their home in the downtown, with thanks to the Municipal Culture Action Plan through the City of Prince Albert. The talent of local artists in Prince Albert and surrounding area is world class.
The addition of the new Indigenous People of Prince Albert and Area Interpretative signage along the Rotary Trail on the riverbank you can begin to understand the history and the story Prince Albert has to tell.
There are a lot more stories to tell and information to be shared. Please follow along on our social on Facebook and Instagram.
Today we are starting a series of blog posts that will introduce you to downtown Prince Albert.
Over the past few months I have seen a lot of posts on social media based on ignorance regarding the downtown. Ignorance comes from a lack of knowledge or information. I will accept the responsibility for the of lack of information regarding all of the positive things that are happening in the downtown. In order to correct this, I am starting a series of blog posts that will introduce you to and education you on all things downtown Prince Albert.
The area is rich in history and culture and the community atmosphere among the local business owners and local shoppers is unique and welcoming.
I have been the Executive Director for just over two years. It is a pleasure to serve the downtown community. The improvements and growth that I have seen in just two years is encouraging and more advanced than the majority of downtown's across Canada. As a member of the International Downtown Association and the Canadian chapter I am able to see what other communities are struggling with. Prince Albert is not only on the right track but ahead of the curve.
I have been able to participate in many walking tours of the downtown with Fred Payton and representatives of the Historical Museum. I have lived in Prince Albert for over 20 years and I was unaware of the amazing history and settlements that took place here that have helped shape Western Canada.
Over the next few weeks I will be featuring blog posts that will help introduce you to what you can find downtown, the uniqueness of Prince Albert that will hopefully encourage you to explore Downtown Prince Albert and have pride in your hometown.
We will also be showing features on our Instagram page and you can share along with us by using #princealbertdowntown
Downtown the cultural heart of our City. Locally produced, this video features a new song by Prince Albert's LJ Tyson and takes us through some of the well-known spaces that we all grew up with and even some that you may have never noticed before.
How many can you list? Leave a comment for us and see if you can name them all!