Any negatives as well?
There are as many negative as positive effect of a successful BIA.. The assessment was based on a per sq. foot. and hence the problem. Our two BIA failed, as they did not have the support of the required number of landlords owning the majority of the available space, a lot who were absentee. The BIA would have increased property taxes, which would have filtered down to the tenants. Most of the businesses were small and felt they could not afford an increase in their rents. The landlord loses when he has an empty space and increased taxes to pay. The larger business, looses, such as a lumber yard, when they have no tenants to offset the increase.
