The Knightsbridge and Brompton Road BID is a company limited by guarantee and the legal entity that runs the activities of the business improvement district. The BID will has two categories of membership:
– BID Levy payers – commercial occupiers liable to pay the BID levy
– Voluntary members – businesses / organisations that are not BID levy payers approved by the BID Board
The nomination of voluntary members is supported by either an annual financial contribution (cash or in-kind) or their strategic importance to the delivery of the BID’s business objectives. Key groups include property owners, smaller businesses that fall below the threshold of rateable value and businesses outside of the BID’s geographic boundary.
The Board of Directors leads and guides the work of the BID. The Board has a balance of skills, experience, independence and knowledge to enable them to discharge their respective duties and responsibilities effectively. It aims to be diverse with a representative mix of its membership, the property sector and wider community.
The Board meets quarterly and drives the set aims and objectives of the BID, as well as maintaining good governance, overseeing the budget and monitoring performance. The Board currently has 12 -16 non-Executive Directors including the Chair. Directors are appointed by the Board subject to ratification by the BID members at annual meetings of the company.
*Further details available in the Company Articles of Association
Observers can be appointed to the Board subject to ratification by BID members at annual meetings of the company. Key groups may include the public authorities, the Police and the residential community.
The BID seeks to embrace its members and the wider community within a programme of work which meet its stated aims and objectives. To help guide the BID in this pursuit Board sub-groups may be set up to encourage participation and help to add value to the decision making of the BID. Areas of focus include Finance & Governance.
The delivery of the BID’s business plan is led by Chief Executive Steve Medway and his team, who are accountable to the Chairman and Board. He works closely with the Board and sub-group members, partners and specialist service providers to ensure the effective implementation of the agreed annual action plan.