BOMA Calgary News

from Business in Calgary - September 2022

by Business in Calgary

In Good Times and Bad Canadian Energy a Vital Global Product

NEWS

FALL 2022

By Lloyd Suchet, Executive Director, BOMA Calgary

Reinvigorated with a Contagious Vibrancy

As we look back on the summer of 2022, one can’t help but recognize the excitement and optimism apparent across our community. What would have once been considered somewhat ordinary felt extraordinary as we saw our city – and particularly downtown, Beltline and Victoria Park – reinvigorated with a contagious vibrancy thanks to the long-awaited return of summer staples like Folk Fest, Stampede, and high streets full of people. The excitement that all these once ordinary things elicit isn’t so much a celebration of a “return to normalcy” as a recognition of what is possible for our city and our industry as we set the ground for what comes next.

While the industry remains laser focused on providing the spaces and services to enable businesses to grow and attract the workforce of the future, here at BOMA we remain committed to ensuring all levels of government provide a stable and competitive environment. The number one issue I hear from our members and from Calgarians is that we must take additional While the industry remains laser focused on providing the spaces and services to enable businesses to grow and attract the workforce of the future, here at BOMA we remain committed to ensuring all levels of government provide a stable and competitive environment.

BOMA Calgary News

BOMA Calgary News is a co-publication of BOMA Calgary and Business in Calgary.

Business in Calgary

1025, 101 - 6 Ave. SW, Calgary, AB T2P 3P4 Tel: 403.264.3270 • Fax: 403.264.3276 info@businessincalgary.com www.businessincalgary.com

BOMA Calgary

Suite 225, 550 11th Avenue SW, Calgary AB, T2R 1M7 Email: info@boma.ca • Web: www.boma.ca Tel: 403.237.0559 • Fax: 403.266.5876

Executive Officers

CHAIR Rob Blackwell, Aspen Properties CHAIR- ELECT Candace Clark, Triovest Realty Advisors TREASURER Tanya Befus, Cadillac Fairview PAST CHAIR Richard Morden, QuadReal Property Group

Directors

Aaron Pratt, Allied Properties REIT Art Skow Colin Norris, Insignia Asset Management Blair Carbert, Carbert Waite LLP Carla Fedele, Choice Properties Dan Lindsay, Surety Technologies Dominik Hubaczek, Oxford Properties Graham Halsall, ONE Properties Kevin Morgans, Avison Young Laurel Edwards, Avison Young

The Building Owners and Managers Association of Calgary publishes BOMA Calgary News quarterly. For advertising rates and information contact Business in Calgary. Publication of advertising should not be deemed as endorsement by BOMA Calgary. The publisher reserves the right in its sole and absolute discretion to reject any advertising at any time submitted by any party. Material contained herein does not necessarily reflect the opinion of BOMA Calgary, its members or its staff.

steps to ensure that workers feel safe returning to offices downtown. This challenge has a number of root causes, including an opioid crisis, and while BOMA has been at the table supporting immediate improvements like an increased Calgary Police Services and Bylaw officer presence along transit lines, as well as Safety Hubs on Stephen Avenue and East Village, we know that law enforcement alone cannot solve the problem. An enduring and compassionate solution to the safety challenge must involve government, the private sector and Calgarians working together to ensure the vulnerable population has access to mental health- and recovery-oriented services. BOMA is committed to being a part of this solution and has senior level working groups dedicated to real action.

The other key area BOMA is engaged with government is tax competitiveness and ensuring that the property tax burden in Calgary is equitably shared between households and businesses. The past seven years have exposed a fundamental inequity where businesses pay 3.81 times more property tax than a household on the same assessed value. This is making it harder to attract and retain business, increases the likelihood of business failure, and has required an unsustainable use of municipal reserve funds to mitigate the burden. That is why BOMA and our partners are proposing a phased in reduction to the non-residential tax burden from 3.81 to 2.80 times higher than the residential rate.

While these two topics are at the top of our advocacy agenda, we remain active on a number of other issues impacting the industry, including a +15 maintenance and structural repair initiative from the City, monitoring operation and ensuring the appropriate removal of the 3rd Avenue cycling detour. We are also working with the Province to develop a standard method of collecting energy utility data for industrial and multi-residential sites, as well as work with the Safety Codes Council on escalator maintenance and safety.

All of this work has a tangible impact to the sector, providing value to both people and assets. By leveraging our strong relationships with key decision makers, we are able to represent the industry and its interests, allowing you to focus on your core business of providing exceptional spaces and experiences.