Bedminster Business Improvement District. See www.bedminster.org.uk.
BID projects and services are selected by business for businesses. Typically they are additional cleansing and security to marketing and collective purchasing and working closely with local partners to achieve the improvements that businesses desire for an area. The benefits of BIDs cited by businesses are wide-ranging and include:
BID legislation was passed in 2003 in England and Wales, (and amended in 2004/5) and sets out:
An operating agreement is entered into between a BID and their local authority governing how the BID levy monies are collected and administered and passed over to the BID. Central to this are 'baseline agreements' – with the local authority and other service providers which guarantee the level of service provision in the area. These ensure that any services the BID provides are truly additional. These are legally binding once a ballot has been won and becomes the framework within which the BID will operate.
BIDs in operation
Governance and management – most BIDs are not-for-profit companies limited by guarantee and set out how they will be governed in their BID Proposal and Company Articles of Association and are governed by a board drawn from businesses in the BID area. BID management teams vary with the size and focus of each BID are generally kept small and focus on project delivery and administration. Performance measurement is important to demonstrate tangibly the improvements to an area and most BIDs commit to specific Key Performance Indicators (KPIs).
BIDs run for a maximum of five years and are renewed through a further ballot process. Evidence suggests that once a BID has been set up the vast majority will continuously renew.Case studies - see Camden Town, Paddington.