The King’s Road BID will provide an effective organisational model which brings together the business community, both occupiers and owners, together with the statutory authorities and wider community, to work together for the benefit of the King’s Road.
The King’s Road Partnership will be a company limited by guarantee and the legal entity that will run the activities of the business improvement district following its establishment. The BID will have two categories of membership:Board - Terms of Reference
BID Levy papers – 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 will be 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 will include property owners, smaller businesses that fall below the threshold of rateable value and businesses outside of the BID’s geographic boundary.
A Board of Directors will lead and guide the work of the 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 seek diversity and ensure a representative mix of its membership, the property sector and wider community.BID Structure
The Board will meet quarterly and drive the set aims and objectives of the BID, as well as maintaining good governance, overseeing the budget and monitoring performance. The Board will consist of between 12 -16 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.
*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 will seek 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 will include Finance & Governance.
Articles of AssociationArticles of Association
The delivery of the BID’s business plan will be led by a Chief Executive and their team, accountable to the Chairman and Board. The role 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.King's Road Partnership BID - Business Plan
The delivery of the BID’s business plan will be led by a Chief Executive and their team, accountable to the Chairman and Board. The role 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.King's Road Partnership Board Members
The BID legislation establishes a relationship between the BID and the local authority in which it is located
The local authority must be satisfied that the Business Plan meets the necessary legal requirements and is responsible for managing the BID ballot. On behalf of the BID, it collects the BID levy through the local business rates bills.
Beyond that, a positive, ongoing working relationship between the BID and the local authority is vital for success in delivering the Business Plan.
Councillors and Officers of the Royal Borough of Kensington and Chelsea have been involved from the start of the process, many contributing to the initial Feasibility Study. They are supportive of the establishment of a BID and regard this as a positive move to promote and support the future evolution of the King’s Road district.
The BID will involve formal participation of the local authority within its governance structure but, just as important, the BID will develop a strong and constructive working partnership at all levels. Together, and with other elements of the local community, we will work to make the King’s Road a better place for everyone to work, live and visit.
A key relationship will exist between the BID and the Royal Borough of Kensington and Chelsea as the main determining authorities in respect of the streets and properties in the area of the BID.
Two important agreements will exist between the BID and the Council:
Operating Agreement with Local Authority
An Operating Agreement which outlines how the BID levy monies are collected, administered and passed over to the BIDOperating Agreement - Kings Road signed_ (002)
Baseline Agreement with Local Authority
A Baseline Agreement which specifies the level of Council led service provision in the area, ensuring that any services the BID provides are additional.Baseline Agreement with LA
Property owners in the area will be encouraged to join the BID on a voluntary basis and help inform the longer-term objectives of the organisation. 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.
Businesses of all sizes are important to the 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. In particular, this will provide 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 £50,000 to provide a voluntary levy the BID will be able to enhance the level of the annual budget.
There is a significant residential community within the proximity of the King’s Road; a community proud of the area’s heritage and status and keen to protect its future wellbeing.
Engaging with the wider community, those that work and live in the area, will be an important part of the BID’s work plan to help deliver an improved sense of place for all to enjoy and benefit from. 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.
Annual stats and BID billing information can be found on in the below leaflet.BIlling Leaflet 2022-23