What is BIIP?
The Yorkton Business Improvement Incentive Program (BIIP) is the replacement to the suspended City of Yorkton eZIP program. The BIIP is a City of Yorkton led, city wide business improvement initiative "to encourage all commercial property owners in the City of Yorkton to enhance the appearance of their buildings and to help lower costs for the creation and expansion of locally-owned businesses".
Your YBID is excited that the City of Yorkton has revitalized these commercial business development and support initiatives and YBID is pleased that we could also partner with them - in a small way - to expand the offering specific to Commercial Property Site Improvements that many of our YBID members wish to undertake.
What is the difference between the old program - and the new?
There are a few new features that YBID member businesses may find of use and interest as they strive to attract more customers to their business, one being the broader coverage.
City of Yorkton Façade and Site Improvements Incentive Program.
This program encourages building facade update but also provides YBID members specifically, the opportunity to also apply to the program in support of other site improvement projects. YBID is proud to partner with the City of Yorkton in support of the broader business improvement efforts and activities of our Members.
City of Yorkon Business Creation and Expansion Program:
This new incentive and encouragement program provides incentives to applicants who are constructing a new commercial building or adding onto an existing commercial building. The goal of this program is to help expand our local businesses and invite new businesses to our City.
This program is new and launched in 2021.
City of Yorkton Vacant Building Tax Abatement Incentive Program:
This City of Yorkon program provides incentives for vacant buildings or vacant portions of buildings that are occupied by new locally-owned businesses. The intention is to offset the cost of bringing the building up to the National Building Code and to stimulate economic activity. The goal of this program is to make commercial areas more inviting and visually appealing to visitors and residents, increase property values and build civic pride.
This program is new and launched in 2021.
For more detailed program summary information, or to apply for these initiatives offered by the City of Yorkton, or to review other Province of Saskatchewan business development initiatives - please follow the City of Yorkton Link below!
The new City of Yorkton BIIP
The 2021 BIIP hit the ground running and was heavily applied for. YBID in conjunction with the City of Yorkton consulted with its business members and encouraged business owners and managers to participate on the committee to help make the program easy to use, find and get results quickly.
For YBID members, the Façade and Site improvement Incentive is where the YBID allocated 50,000 dollars to each year for District businesses to apply for in a 1/3, 1/3, 1/3 sharing of their proposed Façade and Site improvement costs. The maximum any one business can apply for in a funding cycle is $30,000 which would mean 1/3 from the City, 1/3 from YBID and 1/3 to be paid by the business for the approved façade and site improvement applications.
The online program was a huge success for 2021 and on November 2, 2021, 3 of the approved YBID Member applicants were awarded their funding - with more to follow.
Congratulations to: YBID District businesses Golden Mobility, RCM Training and Consulting, and Welcome Home Flowers and Gift Boutique - who received cheques from the City of Yorkton and YBID for 10,000 from each organization.
These businesses were impressed with the program stating "it was easy to use, got results and approval quickly, response time was fast" and "they got to start in the spring of 2021 with needed improvements". The program requires the business to pay up front for improvements first but to know that reimbursement of the applicable funding was secured.
Congratulations to ALL the businesses receiving the funding in this round of the City of Yorktons new BIIP Program! For the next round of applications please apply online at City Incentives - City of Yorkton
Yorkton: Where good things DO happen!