We have benefitted greatly from the services that the BID provides as a result of our voluntary membership, particularly training courses and the savings programme.
Chief Operating Officer, LDG
Business Improvement Districts provide effective organisational models which bring together the business community, both occupiers and owners, and public authorities, to work together for the benefit of defined locations.
The West Fitzrovia BID will have two categories of membership:
The nomination of voluntary members will be supported by either a financial contribution of a fixed annual sum (cash or in-kind) or their strategic importance to the delivery of the BID’s business objectives. Key groups might include smaller businesses that choose to join The Fitzrovia Partnership on a voluntary basis and property owners.
The BID is established as a not-for-profit, limited by guaranteed company, overseen by a BID Management Team and governed by a Board of Directors, to achieve the things that businesses have asked for and have been identified within the business plan.
The BID is established as a not-for-profit, limited guarantee company, overseen by a BID Management Team and governed by a Board of Directors, to achieve the things that businesses have asked for and have been identified within the business plan.
The West Fitzrovia BID and The Fitzrovia Partnership BID will form a single Board, comprising equal numbers of businesses from both areas. The Board of Directors, which is chosen from the businesses that form the constituency of both organisations, will lead, and guide the work of both the West Fitzrovia BID and The Fitzrovia Partnership Camden BID. The Board will have the appropriate balance of skills, experience, independence, and knowledge to enable them to discharge their respective duties and responsibilities effectively. It will also seek diversity and ensure a representative mix of its membership.
Reporting to this Board will be separate operational sub-boards, one for West Fitzrovia and one for The Fitzrovia Partnership Camden BID that will oversee the delivery of projects in their respective areas and recommend the setting of the annual budget to the overarching Board.
The Board drives our stated aims and objectives and maintains good governance, overseeing the budget and monitoring performance. The BID Board and operational sub-boards will meet quarterly and drive the set aims and objectives of the company. The Board will consist of between 12-18 non-Executive Directors including the Chair. Directors will be appointed by the Board subject to ratification by the BID members at annual meetings of the company. Observers can be appointed by the Board subject to ratification by BID members at annual meetings of the company.
The delivery of both the West Fitzrovia BID and The Fitzrovia Partnership BID will be led by the Management team, accountable to the Chairman and Board and operational sub-boards. The team will work with the Board and sub-group members, partners and specialist service providers to ensure the effective implementation of the agreed annual action plan.
A key relationship will exist between the BID and the Council. The Council is the main determining authority in respect of the streets and properties in the area of the BID. Two important legal agreements will exist between the BID and the Council:
Businesses of all sizes will be important to the West Fitzrovia BID. The BID will maintain a voluntary membership scheme for businesses falling beneath the BID levy threshold or outside of the BID’s geographical area. This will give smaller businesses the opportunity to engage with, and benefit from, the BID, while not being compelled to contribute a mandatory levy. By enabling businesses with a rateable value of less than £160,000 to provide a voluntary levy, we will be able to enhance the level of the annual budget. Membership fees will be based on the same methodology as BID levy members.
Property owners in the area will be encouraged to join the BID on a voluntary basis that will help inform the more long-term objectives of the organisation. Moving forward a more formal arrangement for property owners will be explored and a property forum established to represent owners in Fitzrovia. As set out in the membership criteria, membership will be on the basis of a financial contribution towards the overall management of the BID or towards specific projects the BID seeks to advance.
The Business Improvement District is a voice for business interests in the district. But any ambition can only be achieved with the support of partners in the local community. The BID will communicate and work with the local community and provide an opportunity for wider views to be embraced within the BID’s decision-making.
There is a significant and eclectic residential community within Fitzrovia; a community proud of the area’s heritage and status and keen to protect its future wellbeing. A key part of the community is the designated Fitzrovia West Neighbourhood Forum whose prime purpose is to produce a neighbourhood plan for the area that is used by the Council to determine planning applications. We share the Forum’s vision for the area and will work closely with them.
Engaging with the wider community, those that work, live, visit, and stay in the area will continue to be an important part of the organisation’s work plan to help deliver an improved sense of place for all to enjoy and benefit from.
Throughout, the BID will work closely with local residents to ensure that they input into both the strategic direction and specific projects to ensure that they play a part in the future development for Fitzrovia.
08. WHY SUPPORT THE FITZROVIA PARTNERSHIP?