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220111 Economic Development Advisory Committee AgendaThe Corporation of the Town of Tillsonburg Economic Development Advisory Committee January 11th, 2022 7:30 a.m. Electronic 1.Call to Order 2.Adoption of Agenda Proposed Resolution #1 Moved by: Seconded by: AGENDA THAT the Agenda as prepared for the Economic Development Advisory Committee meeting of December 14, 2021, be adopted. 3.Minutes of the Previous Meeting (ATTACHED) December 14, 2021 Proposed Resolution #2 Moved by: Seconded by: THAT the Minutes as prepared for the Economic Development Advisory Committee meeting of December 14, 2021 be adopted. 4.Disclosures of Pecuniary Interest and the General Nature Thereof 5.General Business and Reports 5.1 Monthly Activity Update- EDM 5.2 Economic Development Strategy Proposed Implementation Schedule 5.3 Planning Items Circulation o Site Plan – 61 Townline Rd (ATTACHED) (ATTACHED) (ATTACHED) o Site Plan – 116 Simcoe St 6.Community Strategic Plan 6.1 Town Hall Task Force 6.2 Affordable & Attainable Housing Committee 6.3 Boundary Adjustment Committee 6.4 Physician Recruitment & Retention Committee 7.Community Organization Updates 7.1. Downtown Business Improvement Association 7.2. Tillsonburg District Chamber of Commerce 7.3. Tillsonburg District Real Estate Board 8.Round Table 9.Next meeting February 8th, 2022 10.Adjournment Proposed Resolution #2 Moved by: Seconded by: THAT the January 11, 2022 Economic Development Advisory Committee meeting be adjourned at a.m. (ATTACHED) (ATTACHED) (ATTACHED) Page 1 of 5 The Corporation of the Town of Tillsonburg Economic Development Advisory Committee December 14, 2021 7:30 a.m. Electronic MINUTES Present: Deb Gilvesy, Jesse Goossens (Chair), Collette Takacs, Dane Willson, Mayor Stephen Molnar, Steve Spanjers, Lisa Gilvesy, Suzanne Renken, Randy Thornton, Kirby Heckford, Cedric Tomico Staff Present: Cephas Panschow, Development Commissioner Kyle Pratt, Chief Administrative Officer Kennedy Atkinson, Active Executive Assistant 1.Call to Order The meeting was called to order at 7:35 a.m. 2.Adoption of Agenda Resolution #1 Moved by: Cedric Tomico Seconded by: Collette Takacs THAT the Agenda as prepared for Economic Development Advisory Committee meeting of December 14, 2021, be adopted. CARRIED 3.Minutes of the Previous Meeting Page 2 of 5 Resolution # 2 Moved by: Cedric Tomico Seconded by: Dane Willson THAT the minutes of the Economic Development Advisory Committee meetings of November 9, 2021, be adopted. CARRIED 4.Disclosures of Pecuniary Interest and the General Nature Thereof There were no disclosures of pecuniary interest declared 5.General Business and Reports 5.1 Monthly Activity Report – the Development Commissioner provided an update in regards to the ongoing projects currently underway in the Town of Tillsonburg such as Van Norman Innovation Park, The Town Hall project, Way finding signage and future industrial growth. In regards to the building standards of 2 Simcoe Street, the wordage “the issue” came into question. It is advised that this should be adjusted to “property standards issue”. 5.2 VIP Available Acreage – the Development Commissioner reviewed the land in the Tillsonburg Business Park that has been sold and the reserved access to the plots. It was also discussed current interest in available acreage. 5.3 Outdoor Patio Program Guidelines -The Economic Development Advisory Committee organized to make a motion by the end of this meeting to make changes this document 5. 4. RFP – Real Estate Services - The Economic Development Advisory Committee was satisfied with the document. The next step would be to remove the red line and send to purchasing to put into their RFP template. It was questioned that after these changes are completed if this document has to go back to Council. 6. Closed Session 8:09 am Resolution #3 Page 3 of 5 Moved by: Cedric Tomico Seconded by: Mayor Stephen Molnar THAT the Economic Development Advisory Committee move into closed session to discuss Potential Acquisition or Disposition of Lands CARRIED 7.Community Strategic Plan 7.1 Town Hall Task Force – the CAO discussed the three options for the Town Hall. It is requested a meeting with Town Hall Steering Committee be organized in January. It was noted that Council will be presented with all the options of the Town Hall 7.2 Affordable & Attainable Housing Committee 7.2.1 Nomination of new Committee member Resolution #4 Mover: Cedric Tomico Seconder: Kirby Heckford THAT The Economic Development Advisory Committee is recommending Dane Willson to sit on the Affordable and Attainable Housing Advisory Committee. CARRIED 7.3 Boundary Adjustment Committee – The Boundary Adjustment Committee had a presentation from Eric Gilbert from Oxford County. 7.4 Physician Recruitment & Retention Committee –The draft budget or $70,000 will be presented to Council $70,000 8. Community Organization Updates 8.1. Downtown Business Improvement Association - No additional information 8.2. Tillsonburg District Chamber of Commerce – Will be presenting to ministry the afternoon of 210607. It was discussed how the SWPH restrictions have affected them. Page 4 of 5 AGM - nominate someone you think would would be on the board. So far 12,000 rapid COVID-19 tests have been distributed through the chamber of Commerce Oxford evolve project is currently underway. Christmas Crinch – to be coming. 8.3. Tillsonburg District Real Estate Board – nothing to add 8.3.1. MLS Activity Report 8.3.2 Residential Market Report 8.3.3. Current listings 9. Round Table The Construction on the Starbucks location is due to start in March or April 2022 The Economic Development Advisory Committee Discussed the Green People Development on Vienna Road. The Town of Tillsonburg addressed that they are proud of the treatment they provided Green People. The Development Commissioner addressed the fact that Industrial properties are moving forward. Resolution #5 Mover: Deb Gilvesy Seconder: Cedric Tomico THAT The Economic Development Advisory Committee has reviewed the document titled Outdoor Patios/Encroachment on Municipal Property AND wish to inform Council that the operational date does not allow for year round patios, that a liquor license controls the requirement for non-alcoholic drink requirements, That the reference to 2 metres physical distance needs clarification in relation to being a temporary or permanent restriction, and question if an alley would be considered as an intersection. CARRIED 10. Next Meeting Next Economic Development Advisory Committee meeting will be held on January 11th 2022 Page 5 of 5 11. Adjournment Resolution #6 Moved by: Kirby Heckford Seconded by: Collette Takacs THAT the December 14, 2021 Economic Development Advisory Committee meeting be adjourned at 9:13 a.m. CARRIED Monthly Activity Update – (January 2022) Prepared for the Economic Development Advisory Committee Project Name/Reference Status Downtown Business Development BIA Staff leading recruitment efforts. Town staff to prepare a marketing profile based on data from the retail study to support retail recruitment efforts. Deferred until major projects complete. Economic Development Strategy Update Bring forward after review of 2022 business plan with proposed implementation schedule. Future Industrial Growth Council approved resolution regarding listing the VIP lands. Draft RFP considered by committee on Dec 14 with report going to Council on Jan 10, 2022 High Tech Manufacturing Sub- cluster Action Plan Implementation plan and model being updated. Kick-off event being planned with preparation work, including webpage, launch video, etc, continuing. Exploring collaboration with Burlington based MTech Hub (www.mtechhub.ca). Cluster webpage creation underway. Pandemic Recovery Town application for Community Activator funding deferred as was not for 2021 expenditures. Application was resubmitted on January 5, 2022. Awaiting information on rent and utility relief program announced Dec 22 as this will be crucial for the businesses most affected by the (Stage 2 modified) shutdown. Post-Secondary Education Enhancements Working on supporting increased engagement between high school and local businesses through enhancements to Career Studies courses. Debriefing re past year held. Seeking speakers for in various occupations as requested by students. Town Hall Project Space Needs Design and IT Modernization work underway with draft of conceptual plans on three sites being finalized, Site Feasibility Analysis underway and IT Modernization report draft expected shortly. Van Norman Innovation Park Servicing contract achieved substantial completion on September 9. Absolute Title plan has been reviewed and accepted by the Land Registry Office (LRO). Plan of Subdivision sent to LRO for checking on Dec 22. Wayfinding Signage Update Concrete footings for the wayfinding posts to be poured shortly. Signage installation is less weather dependent and will roll out starting in early 2022. 2 Simcoe St Staff reviewed this property standards issue with Building Department and with various options being considered. Will bring forward. Discover Tillsonburg Fall magazine has published and circulated. January 11, 2022 Economic Development Strategy Proposed Implementation Schedule Presented to the Economic Development Advisory Committee 2 Outline •Background •Proposed Implementation Schedule •Action Item Summary •Proposed Resolution •Next Steps 3 Background •Committee members asked to rank 31 action items with responses scored on an inverse scale (5 to 1) and then ranked •Action items than compared to approved Community Strategic Plan (CSP) Themes, Strategic Directions and Priority Projects resulting in the action items being reduced to 15 key ones •15 key action items are proposed to be implemented as follows 4 Proposed Implementation Schedule Economic Development Strategy Action Items Start Date Status/Comments Continue to position and promote the Van Norman Innovation Park to secure investment in the advanced manufacturing, information technology and food processing sectors 2022 Marketing efforts will focus on 16 acre parcel Ontario site certification and Phase 2 planning in Business Plan (BP) Support local businesses to build online/e-commerce capability and capacity TBD Survey existing businesses in 2022 to determine capabilities post- pandemic and then consider for future 5 Proposed Implementation Schedule Economic Development Strategy Action Items Start Date Status/Comments Explore the expansion and resourcing of the Town’s CIP program to support residential development (particularly rental accommodation), the targeting of key sector investment including tourism and the continued revitalization of the downtown 2022 Not in BP, but can be undertaken in conjunction with Planning Undertake a housing needs study to address perceived gaps in inventory, affordability, and demand, in the short- term (remote workers) and long term (permanent residents) TBD Other Can this be led by County or other agency? 6 Proposed Implementation Schedule Economic Development Strategy Action Items Start Date Status/Comments Support investment in the manufacturing sector by adopting the recommendations in the High-Tech Manufacturing Sub- Cluster Action Plan 2022 Multi-year plan to support local mfgrs with investments in technology and equipment Pursue opportunities to develop workforce training programs and tailored curriculum offerings that support on-the- job training that prepares local students for employment in the town’s high- priority industries 2023?Based on outcome of High-Tech Action Plan start-up Already working with high school Career Studies class to highlight local opportunities 7 Proposed Implementation Schedule Economic Development Strategy Action Items Implementation Date Status/Comments Adopt the recommendations of the 2019 Retail Gap Analysis, including the “Invest in Tillsonburg Downtown” digital and/or online marketing piece 2022 Consider refreshing data first Advocate for tourism priorities, showcasing Tillsonburg’s authentic tourism experiences and promoting these experiences to local and regional accommodation providers and tour operators 2023 Per Business Plan, will explore Airport “Fly-in Tours” in 2022 Identify and advocate for the use of existing vacant buildings and/or storefronts as temporary artist space 2024 May consider initiative with BIA and mall owner 8 Proposed Implementation Schedule (TBD) Economic Development Strategy Action Items Implementation Date Status/Comments Conduct a service delivery audit to determine the opportunities to reduce operating costs for the town and the associated reduction in development approval/permitting costs TBD Other A number of CSP Projects support service delivery enhancements including a potential new Town Hall Continue to improve online-access to and assistance of the town’s development approvals and permitting process TBD Other Review in conjunction with Operations & Development Dept Operate an innovation hub that offers on-one business in-person and virtual consultations, business plan reviews, networking events, access to online learning and seminars/workshops TBD 2025? Budget for “Pop-up” Community Futures office in TB included in 2022 BP 9 Proposed Implementation Schedule (Others) Economic Development Strategy Action Items Implementation Date Status/Comments Advocate for the provision of regional transit service and related infrastructure to support economic growth and workforce mobility TBD Other Future of Shortline Rail initiative led by Town/SCOR as per Business Plan Higher level efforts led by Southwestern Ontario Transportation Task Force, SCOR EDC and Town advocacy Fast track the Airport Site Master Plan to understand the benefits to the town and shared service agreement requirements with the neighbouring community TBD Other Being led by Operations and Development Dept Work with local developers to ensure the integration of fibre in all new development TBD Request information on known developments from Operations and Development Dept 10 Action Item Summary Implementation by Year Number Action Items for Completion in 2022 4 Action Items for Completion in 2023 2 Action Items for Completion in 2024 1 Action Items for Completion -TBD*3 Action Items for Completion -TBD Other* 5 TOTAL 15 *Note: TBD (To Be Determined) Items may result in future Business Plan items 11 Proposed Resolution for Consideration “That the Economic Development Advisory Committee recommends to Council that the Updated Economic Development Strategy be adopted in principal with the 31 Action Items reduced to 15 based on the review of Community Strategic Plan priorities” 12 Next Steps •Begin implementation of items already in 2022 Business Plan (once approved) with other items subject to Council “approval in principal” of Economic Development Strategy November 8 2021 Qualified Acoustical Consultant Board of Management Report – ECDEV01-01-21 To: EDAC (Economic Development Advisory Committee) From: Cedric Tomico, Chair – Board of Management DTBIA Date: January 4th, 2022 Subject: January ECDEV Report from the BIA __________________________________________________________________ The 2021 fiscal year closed out with the continued challenges of the pandemic and the associated uncertainties for our membership. This report highlights the activities and tactics to ensure we remain a member-driven organization and ready for the challenges that may present themselves. 2022 Budget and Business Plans As discussed in the December report, the approved plans will be implemented. The ED will be closely monitoring the pandemic impacts and will make adjustments as necessary to ensure prudent spending and controls. To this end, the casual labour schedule for January 2022 has been pared back to one 3-hour shift per day, for a full 7- day cycle. The team is aware of the challenges and will make on-the-fly adjustment to be respectful of the membership. The EMC is now full-time and you will see a significant increase in the work output and programming as well as marketing-related communications. Membership driven organization The DTBIA continues to be proactive with meeting member needs and to triage requests for support and assistance. The ED and EMC spend a significant amount of time working closely with members on their challenges and issues. This has proven to be a successful tactic in the development of res iliency in our downtown business community. We will actively seek out feedback and welcome suggestions to improve the effectiveness of our programs, services and the delivery of our commitment in the Town of Tillsonburg MOU. Business update There continues to be strong interest in the downtown core area with a number of open files on businesses wishing to locate in the downtown core area. Included in this list are the following: - Northern Warrior Strong – strength training equipment (Made in Tillsonburg) looking to open a showcase training facility downtown - No Dice Games has re-branded and moved from a basement unit on Broadway to 16 Oxford Street and is now called “REALM WALKER GAMES” – this move allows for larger scale activities and events. The ED worked with the ownership team on the business plan and provided feedback and coaching. - Sew-U-Can – the ED has been actively working with Anna and her team on a relocation to larger premises to facilitate the introduction of sewing classes and to have a larger retail showroom. The ED is facilitating discussions with Strathallen on a potential relocation to the Tillsonburg Town Centre mall. - Hotel/Conference Centre development – the ED has reached our and is discussing opportunities for the development of a branded hotel facility with meeting and conference facilities with an interested partner who owns several hotels elsewhere in Ontario. This hospitality group also own several higher-end restaurants/bars/cafes. - Enchanted Eats Café will be closed for the month of January to reopen on or about February 5th. Barb is taking a much needed break. - Nectar has introduced a food truck with fish and chips along with an extension of their menu offerings. - DoorDash – many of our downtown eateries are now featured on DoorDash. The ED has received anecdotal feedback that this has helped some members sales by upwards of 10%. Tillsonburg Town Centre Mall We continue to work very closely with the Strathallen local and head office teams with implementation of their strategic objectives. There is a head office marketing contact, Roselyn D’Ascanio who is in regular contact with the EMC. The EMC and ED are currently working with Strathallen on implementation of their national strategies – there is an attachment to this report outlining the specifics of that approach which was piloted at their Southland Mall location in Regina, Saskatchewan. Following this successful pilot project; the concept is being selectively introduced at Strathallen properties across the country including Tillsonburg. The ED and EMC met via teleconference with the Strathallen team on January 6th., We are discussing a partnership to deliver these new concepts here at the Tillsonburg Town Centre Mall. Strathallen is now being led by a CEO who spent many years with Cadillac-Fairview. Cadillac-Fairview is the leading retail, shopping and office developer in Canada. They have spent millions redeveloping their portfolio. It is very apparent that Cathal O’Connor is repositioning the Strathallen asset base to be more refined, upscale and community-oriented. The BIA supports these initiatives as they align perfectly with the BIA mission in the development more traffic in the downtown core area. Construction is underway for the new restaurants however there are supply chain and contractor availability issues which are preventing speedy completion. As discussed in previous reports, building permits have been issued and there are no approval issues for any of these projects. Governance The ED and EMC have been actively recruiting new members for addition to the Board of Management. Three new members represen ting downtown businesses will be appointed by Town Council in the coming weeks. There have also been a couple of issues with board eligibility and meeting attendance. These issues are being resolved as per the DTBIA constitution and Town of Tillsonburg Code of Conduct/Town of Tillsonburg Personnel Policies. Being a local board, the DTBIA is subject to the approved policies established by the Town of Tillsonburg. All DTBIA Board of Management meetings will be held virtually until further notice. A copy of the 2022 meeting calendar is attached for your benefit. Events and Marketing The primary strategic imperative at present is the promotion of “Buy Local” given the lockdown which will last through the end of January. There will be an emphasis on communicating a message to buy gift certificates, order food for take-out and delivery and promotion of curbside pick-up where offered. The community MITTEN TREE was a huge success. Our new co-working tenant, Tuan The Barber, was inspired to do a drive for the DASO facility in Woodstock which also was very successful. The EMC has created a detailed marketing campaign for 2022. Turtlefest The Turtlefest Executive Committee continues to meet about the resurrection of the event. Given the uncertainties of the pandemic; no final decision on a 2022 event has been made. One of the key challenges is the revenue attainment given the supports necessary from the business community. Rogers Media appears to be committed to the event for 2022 if it is a “go”. The DTBIA is supportive of holding the event and will allocate resources when it goes ahead. Façade Improvement Program Progress against the approved projects continues to be slow due to factors beyond control of the membership and FIP committee. You will note significant progress on the Verne’s Carpet One location at present. Other projects are in a holding pattern or will resume when the building season and better weather comes in the spring of 2022. Business outlook The downtown traffic continues to be very strong and healthy through December. There are continuing challenges with some supply chain issues affecting sector sales and profit performance. The DTBIA has active interest from more than 10 parties looking to open, expand or relocate to the core area. Vacancy rates continue to be low. There are further details elsewhere in this report regarding business interest and enquiries. The January 21-day lockdown will undoubtedly cause further financial distress and damage in the community. We all need to be mindful, again, of supporting local and ensuring that we all do our best to support our businesses. Real estate/demand There has been little movement as of late. There is strong demand for downtown business space including additional sectors wishing to operate in our co-working space which is now fully occupied. Advocacy The DTBIA continues to work with all community partners to address issues, concerns and challenges. There has been a pause on the homeless task force due to issues of direction and lack of support from some of the partners. This is extremely disappointing to say the least given we have an issue with homelessness which is becoming more acute. There needs to be a proper shelter in Tillsonburg with the support systems in place. The DTBIA Board of Management wrote to the CEO and Medical Officer of Health for the Southwestern Public Health Unit to express concerns with the unilateral imposition of 50% capacity limits on certain sectors of the business community. There was no response from either the MPP or MP. The SWPH leadership team did respond however the concerns were not specifically addressed. The ED will be working closely with the TDCC – CEO Suzanne Renken and other key stakeholder/partners to highlight the urgent need for business financial assistance. You cannot expect businesses to comply with lockdown orders when they don’t have the fiscal capacity to do so. The DTBIA clearly understands the predicament our membership is in. The ED has also reached out to the Human Services Department at the County of Oxford for supports and to highlight the need for shelter space in the Town of Tillsonburg forthwith. Every big city problem is now in Tillsonburg, and we need all hands-on deck to ensure that these challenges are managed effectively before they permanently damage the efficacy of our efforts. Degradation of the downtown cannot and will not be tolerated. General The ED continues to focus on critical issues affecting the membership. There has been a marked increase in homeless/transient traffic in the downtown core area . The areas of concern which have been identified are Library Lane and the parking garage beneath the Walmart store. The Library Lane area is targeted for the removal of all non-ground level vegetation so as to help improve the site vista and to improve safety and security. Statistics Canada has updated the population estimates for Tillsonburg based upon early data compilation from the 2021 Census in addition to the updates on building activity provided by the town. The population estimate for Tillsonburg was revised as at July 1st, 2020 to 17,484. This does not include the 400 +/- housing units completed between July 2nd, 2020 to December 31, 2021. The current metric for population per household is 2.19 for the Town of Tillsonburg. Extrapolating these completed housing units to population adds an additional 935 people to the aggregate count resulting in a December 31st, 2021 year-end population of 18,409. This population increase is a key driver of traffic and revenue for our downtown businesses. In recent discussions with the town’s Chief Building Official, it is understood that 2022 calendar year will see an additional 400+ housing units being constructed. This is very positive for the DTBIA going forward. Appreciation The DTBIA team would like to acknowledge and thank the Tillsonburg OPP, the Police Services Board, Town of Tillsonburg staff and our ambassador team for their efforts at keeping the downtown clean, safe and enjoyable for all. We also want to thank our sponsors and stakeholders for their continued support and commitment to our mission. We couldn’t do it without their support and financial assistance. We are happy to report that all of our 2021 sponsors have renewed and are on board for 2022 at this early juncture. Summary We continue to be in the midst of challenging and uncertain times. Our job is to be a beacon of positivity and to advocate for the supports necessary to create the conditions that are conducive for business growth and prosperity. Even with these challenges, the DTBIA continues to perform at a high level relative to our peers throughout the region and province. These efforts should not be taken for granted. What we are doing is not only working, it is creating a resilience that is the envy of others. We will pivot our focus and energies as the pandemic and business conditions dictate. We will have a successful 2022. Thank you for your support! As always, we welcome your feedback, comments and suggestions. ENCL. [2] The Community Hub Southland Mall, Regina, Saskatchewan Toronto – November 15th, 2021 – Strathallen is excited to introduce The Community Hub, a national Strathallen concept focused on facilitating community engagement at our shopping centres. The Hub’s first location was launched at Southland Mall, our enclosed shopping centre in Regina, Saskatchewan, on August 1st, 2021. The concept comprises three areas: The Spot – Our dedicated, complimentary community room offered to non- profit organizations and groups. The Pop Shop – Our dedicated pop-up space inviting local businesses to gain exposure to our dynamic market of customers. The Park – Our indoor play space for children who are visiting the shopping centre. Following the launch, we are excited to see the excellent traction that the Community Hub has gained in the Regina market. The Spot has been utilized by the likes of Flatland Swimming for a Swimming Lesson Certification workshop, Bell Media/YWCA for their Tampon Tuesday charitable campaign, as well as Summer Bash for a Halloween Heritage Fair. At The Pop Shop, local businesses such as XStacey Bath Products have occupied the dedicated unit. Our team continues to work on bringing new, unique and exciting activations to each of these spaces. With this, we look forward to the growth of the Community Hub at other Strathallen owned and managed centres in the coming months. Our tenants and the communities in which we serve are the core of our business, and we recognize that our company forms an essential part of the community. We have the ability and responsibility to enable positive change and facilitate growth and connection between communities and tenants, and the Community Hub is a prime example of how we plan for and execute on this responsibility. Founded in 2003, Strathallen is a leading real estate investment manager focused on delivering superior risk-adjusted returns to its investor partners. Strathallen is led by a team of executives with a proven track record of over 250 years of collective real estate experience. Our organization ranks in the top quartile of performance managers operating in the commercial real estate space. Leasing Inquiries: 1.866.792.5553 Downtown Tillsonburg BIA - 2022 Meeting Schedule Month Meeting date/time Place Type of meeting January Tuesday, January 25 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular February Tuesday, February 22 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular March Tuesday, March 22 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular April Tuesday, April 19 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular May Tuesday, May 17 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular June Tuesday, June 21 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular July Tuesday, July 19 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular August NO MEETING N/A N/A September Tuesday, September 20 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Budget Meeting October Tuesday, October 25 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Budget Meeting November Tuesday, November 22 7:00 am breakfast/7:30 am meeting Carriage Hall 25 Brock St. W. Regular November AGM Wednesday, November 23 5:30 pm social 6:00 pm dinner 7:00 pm AGM meeting Tillsonburg Legion 25 Durham Street Annual General Meeting (2023 budget & Year in Review) December NO MEETING N/A N/A YEAR TO DATE MONTHLY 2021 2020 % Difference 2021 2020 % Difference $ value of Total Units Sold $1,242,397,709 $855,105,706 45.29%$93,894,270 $72,892,970 28.81% $ value of Residential Units Sold $1,037,757,919 $736,185,755 40.96%$68,203,470 $59,848,270 13.96% $ value of Other Units Sold $204,639,790 $118,919,951 $25,690,800 $13,044,700 Total # of Units Sold 1926 1771 8.75%119 141 -15.60% # of Residential Units Sold 1676 1559 7.50%102 123 -17.07% # of Other Units Sold 250 212 17 18 Total # of New Listings 2368 2208 7.25%76 104 -26.92% Total # of New Residential Listings 1984 1850 7.24%65 86 -24.42% Total # of Other New Listings 384 358 11 18 Total # Currently on Market See Monthly Numbers 122 # of Residential Currently on Market See Monthly Numbers 58 # of Other Listings Currently on Mkt See Monthly Numbers 64 RESIDENTIAL SALES Accum.Accum.Month Reporting Month Reporting BY PRICE CATEGORY 2021 TTL 2020 TTL 2021 2020 AVERAGE RESIDENTIAL SALE PRICE $ - $300,000 50 172 0 7 $300,000 - $499,999 492 861 26 75 $500,000 - $599,999 397 236 25 17 2021 2020 % Difference $600,000 - $699,999 271 137 14 10 MONTH $668,661 $486,571 37.42% $700,000 - $799,999 174 72 11 8 YTD $619,187 $472,217 31.12% $800,000 - $899,999 119 39 14 2 $900,000 - $999,999 63 17 4 0 $1,000,000 - 1,099,999 28 5 0 1 $1,100,000 - 1,199,999 28 8 4 1 Over - $1,200,000 54 12 4 2 for “Tillsonburg District” definition see Region & Municipality below. MLS® ACTIVITY FOR THE MONTH ENDING DECEMBER, 2021 TILLSONBURG DISTRICT REAL ESTATE BOARD All YTD Totals may not match the month to month cumulative total due to continuous, live updates of data combined with permitted timing of entry. The information only represents MLS® listings sold and reported through ITSO. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, the Tillsonburg District Real Estate Board does not assume any responsibility or liability. Municipality: Tillsonburg, Norwich Twp, SW Oxford, Bayham, Charlotteville, Delhi, Houghton, Middleton, N Walsingham, S Walsingham, Port Rowan, Town of Simcoe, Windham Region: Elgin, Oxford, Norfolk Tillsonburg District Real Estate Board 1 Library Lane, Unit 202 Tillsonburg, ON N4G 4W3 Phone: 519-842-9361 Source: The Canadian Real Estate Association and the Tillsonburg District Real Estate Board MLS® System. REALTOR® is a trademark, which identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and to a strict Code of Ethics. TOWN OF TILLSONBURG’S REAL ESTATE MARKET REPORT FOR DECEMBER 2021 ** It is important to note that the percentage of difference compared to December 2020 was significantly impacted by the newly implemented restrictions related to COVID-19 and may not accurately reflect a real percentage of change for that time. The number of homes sold through the MLS® System of the Tillsonburg District Real Estate Board totalled 22 units in December 2021. This was a decrease of 31.3% from December 2020. On a year-to-date basis, home sales totalled a record 405 units over the first twelve months of the year. This decreased by 1.0% from the same period in 2020. The overall MLS® Home Price Index (HPI) composite/single-family benchmark price was $612,600 in December 2021, a substantial gain of 33.8% compared to December 2020. The average price of homes sold in December 2021 was $639,354, increasing by 50.0% from December 2020. The more comprehensive year-to-date average price was $575,902, rising 30.6% from the first twelve months of 2020. The number of new listings saw a decrease of 51.6% from December 2020. There were 15 new residential listings in December 2021. Active residential listings numbered 7 units on the market at the end of December down by 68.2% from the end of December 2020. Months of inventory numbered 0.6 at the end of December 2021, down from the 1.4 months recorded at the end of December 2020. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. CONTACT: TDREB PRESIDENT David Bennett davidb@royallepage.ca 519-842-8418 TDREB GR CHAIR Dane Willson dane@danewillson.ca 519-842-8418 TDREB EXECUTIVE OFFICER Linda Van Hooren tburgreb@bellnet.ca 519-842-9361 Source: The Canadian Real Estate Association & the Tillsonburg District Real Estate Board MLS® System. The trademark MLS®, Multiple Listing Service and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. TOWN OF TILLSONBURG Year to Date Housing Market Update for December 2021* *Based on residential data from the Tillsonburg District Real Estate Board MLS® System. All percentage changes are year over year comparisons. Home Sales down 1.0% Home Sales numbered 405 units December 2021 YTD, down 1.0% compared to the 409 units sold December 2020 YTD. Inventory down 57.1% **December 2021 YTD had 0.6 months of inventory, down from 1.4 months at the end of December 2020. New listings up 0.9% There were 442 new listings December 2021 YTD, up 0.9% compared to 438 new listings December 2020 YTD. Benchmark price up 33.8% The benchmark price was $612,600 December 2021 YTD, up 33.8% from December 2020 YTD. **The year-to-date months of inventory figure is calculated as average active listings from January to current month/average sales from Jan uary to current month. Property Client Thumbnail Client Thumbnail 169 BROADWAY Tillsonburg MLS® #: 40094274 Active / Commercial Sale Price: $915,000.00 MLS®#:40094274 Region:Oxford Bldg Area Total:3,400 Municipality Area:Tillsonburg Lot Size Area:8,557.00 Neighbourhd/SubDist:Tillsonburg Lot Front:50.79 Property Sub Type:Building and Land Lot Depth: Business Type:Tax Amount:$12,910 Waterfront Y/N:No Tax Year:2020 OPPORTUNITY! A rare opportunity to own one of the premier buildings in Tillsonburgs' bustling downtown core. Building was previously the Strand Cinema and was demolished and rebuilt by a Tier One Financial institution saving the architectural character of the building which now sits in one of the prime locations in the downtown core. Featuring rare private parking, marquee signboard, new roof and two street facing units (1620 square feet and 1800 square feet)with partial and fully finished basement. One unit is presently tenanted to a long term tenant the other recently underwent extensive renovations for an office user and is presently for lease. Here is your chance to own your own destiny or take advantage of an attractive cap rate on a rare find. Client Thumbnail 593 BROADWAY St Tillsonburg MLS® #: 40182387 Active / Commercial Lease Price: $43.80/Sq Ft Net MLS®#:40182387 Region:Oxford Bldg Area Total:1,920 Municipality Area:Tillsonburg Lot Size Area:15,000.00 Neighbourhd/SubDist:Tillsonburg Lot Front:100.00 Property Sub Type:Building and Land Lot Depth:150.00 Business Type:Tax Amount:$14,546 Waterfront Y/N:No Tax Year:2021 MODERN COMMERCIAL OIL AND AUTO SERVICE BUILDING FOR LEASE. Located in the high traffic, high visibility Northern gateway to Tillsonburg on Highway 19. Constructed in 2012 and neighbouring franchise retailers Tim Horton's, Burger King and A & W. Suitable for a franchise looking to service Tillsonburg's growing population. All measurements are approximate. Client Thumbnail 239 BROADWAY St Tillsonburg MLS® #: 40139267 Active / Commercial Lease Price: $35.00/Sq Ft Net MLS®#:40139267 Region:Oxford Bldg Area Total:6,955 Municipality Area:Tillsonburg Lot Size Area:0.16 Neighbourhd/SubDist:Tillsonburg Lot Front:67.18 Property Sub Type:Building Only Lot Depth:101.87 Business Type:Tax Amount: Waterfront Y/N:No Tax Year: This build-to-suit opportunity is located in a very high traffic area! Situated on the corner of Broadway St. and Bridge St. - have your new and improved location designed to suit your exacting wants and needs. Site is surrounded by many national chains including, but not limited to: Metro, Pita Pit, Canadian Tire, Medpoint Healthcare, Walmart, Kelsey's Restaurant, LCBO. Site is zoned CC (Central Commercial) which provides for a number of retail and commercial allowances. The landlord is willing to build to a maximum footprint of approx. 6955 sq. ft. on the site - all subject to municipal conformity and town by-law allowances. Client Thumbnail 169 BROADWAY St Tillsonburg MLS® #: 40027662 Active / Commercial Lease Price: $16.00/Sq Ft Net MLS®#:40027662 Region:Oxford Bldg Area Total:1,600 Municipality Area:Tillsonburg Lot Size Area:8,557.00 Neighbourhd/SubDist:Tillsonburg Lot Front:50.79 Property Sub Type:Building Only Lot Depth: Business Type:Tax Amount:$1 Waterfront Y/N:No Tax Year:2020 Excellent High Visibility Downtown Location!! Unit available in one of Tillsonburgs premier locations. Immaculately kept building already fitted out with high end upgrades. Large reception area, three private offices, two bathrooms, lunch room and storage area. Rear entrance leads to parking lot with three exclusive spots for tenant parking! Protected by copyright. All use of MLS® System data is at your own risk. Information is deemed reliable but Information Technology Systems Ontario makes no warranties or representations regarding the MLS® System data.