For Sale Property Details $5,999,000 Property Address 101 MCINTYRE ST W North Bay, Ontario P1B2Y5 Type Office Land Size 131.57 x 132.43 FT Description Acquire A Unique Professional Office W/ Loyal Triple Net Lease Tenants: Assante Wealth Management, Bdo, Cannamm & Optometry North Bay. Excellent & Stable Net-Income! Nearby Amenities: Canada Post Office, North Bay City Hall & Library, Banks, Restaurants, Shops, Hotels, Tourist Attractions & Lake Nipissing Waterfront. Offers A Total Of 63 Parking Spaces Both On-Site & Off-Site. Features Visual exposure, Park/reserve Amenities Park, Public Transit This property is located within the boundaries of the Downtown Improvement Area known as Downtown North Bay and Waterfront. The building owner and any businesses that lease space within the boundaries are automatically part of the Downtown North Bay and Waterfront membership; a Business Improvement Area (BIA), and as such are subject to a special tax levy. Calculation of this levy is based on the proportionate value of each property’s commercial and/or industrial assessment. What is a BIA? A Business Improvement Area (BIA) is an association of commercial property owners and tenants within a defined area who work in partnership with the City to create thriving, competitive, and safe business areas that attract shoppers, diners, tourists, and new businesses. By working collectively as a BIA, local businesses have the organizational and funding capacity to be catalysts for civic improvement, enhancing the quality of life in their local neighbourhood and the City as a whole. What Can a BIA Do? Local businesses, working collectively as a BIA, become catalysts for civic improvements, ultimately enhancing the business climate and quality of life of the neighbourhood. As a legal organization mandated by provincial legislation, BIAs are able to develop a budget for improvements and, through the city, collect a levy from businesses in the area to raise the necessary funds. BIAs improve their local economies through activities such as: Street and sidewalk maintenance and capital improvements Promotion of the BIA as a business, employment, tourist or shopping area (business directories, festivals, advertising) Hosting neighbourhood festivals and events Safety, security and crime prevention initiatives Graffiti and poster removal services respecting building facades visible from the street Strategic plans for business recruitment, market studies and capital improvements Advocate on behalf of their membership as a unified voice How Does it Work? A BIA is run by a volunteer Board of Management elected from its members. The Board is nominated at an Annual General Meeting and, once approved by City Council, serves a four-year term concurrent with the term of Council. The Board works on behalf of its BIA and meets regularly to develop budgets, set priorities, implement capital improvements, plan festivals, and promote its business area. How is a BIA Funded? Once the BIA members approve the budget and City Council ratifies it, funds are raised through a levy on all commercial and industrial properties within the BIA’s boundary. Calculation of this levy is based on the proportionate value of each property’s commercial and/or industrial assessment. Once the City collects the levy, it returns the funds to the BIA to manage.