Uptown Waterloo BIA reduces levies to help businesses hit hard by LRT construction

Businesses in uptown Waterloo will see a reduction in their levies of between 28 and 52 per cent this year to help them cope after LRT construction negatively impacted them in 2016.

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"It has been a difficult two years for businesses and while the BIA cannot give financial support directly to the businesses, the reduction of levies allows us to make a meaningful contribution to their ongoing success," a release from BIA executive director Patti Brooks and chairman Jeff Zavitz said.

Property owners in uptown Waterloo pay a levy to the BIA (Business Improvement Area) alongside their property taxes. The money is used to fund the BIA, which in turn promotes the area, co-ordinates beautification projects, hosts events and allows businesses and property owners to have an open forum to discuss issues specific to the area.

Levy decrease will help uptown remain 'vibrant'

Brooks and Zavitz said the BIA will continue with increased marketing, robust community programs and ongoing advocacy "to help our core remain the vibrant community it has become."

• LRT construction closes King Street in Waterloo for 3 weeks

The move comes after uptown businesses said they were preparing to take legal action against the Region of Waterloo over LRT construction.

Shane Rayman, a Toronto-based lawyer representing a number of the businesses, told CBC News many business owners felt they were seriously impacted by the construction.

"They have to suffer the burden of the works and the interference that it's causing," Rayman said. "There's been what owners believe to be substantial business losses where they are paying more than their fair share for the cost of the work."