Nottingham Leisure BID
Raising the standards
for customers and business

Managing the BID

Managing the BID

A BID is an investment by you as local businesses in the management of our trading environment. The investment is therefore controlled by the businesses through a formal BID company, created specifically for the purpose.

• The Nottingham (Leisure) BID Limited* will be a new independent ‘not-for-profit’ company, limited by guarantee.
• The Board members will be nominated by you and directly accountable only to you as the voting businesses.
• Nottingham (Leisure) BID Limited* will deliver the agreed programmes efficiently and effectively, monitoring and controlling the process to the best of its considerable ability.
• The Board will have a private sector chairperson and consist of 17 members, including 11 elected Board members representing the different sectors of the levy payers in the BID area.

• The BID Manager will be an ex-officio member of the Board also.
• The Board will meet at least quarterly in the first year.
• There will be four working groups established, each led by a different Board director, one for each major project area (Access, Safety, Promotion and Business Services). These teams will review project progress, expenditure and success and feed into the Board meetings.
• In the first year of operation, the Board will be drawn from the members of the Nottingham Leisure BID Shadow Board under its current independent chairmen. In subsequent years, the members will be determined by secret ballot of the voters with a proportion of the Board retiring each year.
• A stakeholders’ report will be issued every six months to keep you informed of progress and of course there will be regular email bulletins sent out giving you the latest BID news updates. Our website will continuously stream information both to stakeholders and of course your customers and visitors to the City Centre.
• The accounts for the company and its business plan and the delivery against it will be formally assessed by external auditors and scrutineers to ensure maximum return on investment for those paying the BID levy.
• There will be a formal Annual Report and an annual AGM when all levy payers will be invited to receive reports on the BID
  performance during the year and question the Board on the progress of the BID and the City Centre, before new Board members are elected (see later).