What is the PADBID?
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to 2018 the PADBID also received $18,000 from the Province in lieu of taxes on their downtown properties but that was withdrawn with budget cuts.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 Cultural 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.
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