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2021-076Page 1 of 2 THE CORPORATION OF THE TOWN OF TILLSONBURG BY-LAW 2021-076 A BY-LAW to amend By-Law 2013 being a by-law to designate a certain area as an improvement area and to establish a Board of Management therefor. WHEREAS the Tillsonburg Business Improvement Area Board of Management requested that the Town of Tillsonburg set a maximum charge for certain properties; AND WHEREAS Section 208 of the Municipal Act, 2001, c. 25 allows the municipality to establish a minimum or maximum charge or both, expressed for one or more separately assessed properties or categories of separately assessed properties in a prescribed class; AND WHEREAS notice of the intention of Council to pass this by-law has been served by mail as required under section 210 of the Municipal Act, 2001, c. 25. BE IT THEREFORE ENACTED by the Council of the Corporation of the Town of Tillsonburg as follows: 1. Section 12 to be amended to add: 12.1 Despite section 12 and as provided by subsection 208(3) of the Municipal Act, the aggregate amount payable by Parcel 1, as described in Schedule “B”, shall not exceed the maximum special charge of forty-three percent (43%) of the Board’s budget in any taxation year and the aggregate amount payable by Parcel 2, as described in Schedule “B”, shall not exceed the maximum special charge of seven percent (7%) of the Board’s budget in any taxation year. 12.2 Despite section 12 and as provided by subsection 208(3) of the Municipal Act, the aggregate amount payable by Parcel 1, as described in Schedule “B”, shall not fall below the minimum special charge of forty-three percent (43%) of the Board’s budget in any taxation year and the aggregate amount payable by Parcel 2, as described in Schedule “B”, shall not fall below the minimum special charge of seven percent (7%) of the Board’s budget in any taxation year. 12.3 “Parcels” shall mean those lands identified on the assessment roll returned in 2020 for taxation in 2021 as roll numbers 3204 030 030 08000 0000, and 3204 030 030 08301 0000 for 164, 170, 200, and 248 Broadway] as being separately assessed for taxation purposes and which are more particularly outlined and By-Law 2021-076 identified on the attached Schedule "B''. If the foregoing assessment roll numbers are changed, consolidated or subdivided, Parcels shall mean those lands outlined and identified on Schedule "B". 12.4 If necessary for a fiscal year to raise the amount referred to in section 12 because the maximum charge applies to the Parcels, the municipality shall for the year adjust any charges applicable to the remaining individual properties in The Tillsonburg Downtown Improvement Area by adjusting the percentage of assessment established under section 12 for those properties in proportion to the assessed value of the real property, as provided for in paragraph 208(4)(b) of the Municipal Act. 2. That these amendments to By-Law 2013 are hereby declared to be part of that By-Law as if written therein. 3. That this by-law shall come into force and take effect on the date it is passed. ryE AND PASSED THIS 12th day of JULY, 2021. ~ R -Stephen Molnar ~ Page 2 of 2