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The establishment and operation of a BID in Wales is governed by the Business Improvement District Regulations (Wales) 2005.
FOR Cardiff is the trading name of Cardiff BID Ltd, which operates as a not-for-profit company limited by guarantee.
The company is governed by a board of directors who serve in a voluntary capacity. The BID Board is responsible for the strategic and financial management of the BID and meets on a quarterly basis as a minimum.
The board will have no fewer than 12 and no more than 15 positions. Directors will be drawn from BID levy paying businesses and he board may co-opt up to two members from outside of the pool of levy payers, if they deem that there is a strategic requirement for an external skillset or point of view.
The split of representation on the board will reflect the sector breakdown of the BID levy paying businesses. Any levy paying business will be eligible to submit a candidate to stand for election to the board. The positions of Chair and Vice Chair will be held by directors from the private or voluntary sectors. Individuals currently employed by the BID company are ineligible for a position on the board of directors.
The board may establish subcommittees as it sees fit. Any subcommittee will have at least one director in their membership and any necessary budget will be agreed at board level, in line with the company’s financial protocols. The formation and membership of these groups will vary according to business need – up to date information on the groups including terms of reference, any delegated powers and membership will be available to any levy paying business on request.
Annual accounts will be produced alongside an annual review and these will be made available to levy paying businesses.
Cardiff BID has entered into legal agreements with Cardiff Council as follows:
Baseline agreement – sets out the minimum service standards to be delivered by Cardiff Council, along with any additional agreed discretionary services within the BID area
Operating agreement – this defines the contractual arrangements for the collection and enforcement of the BID levy
These agreements are available to any levy paying business on request.
None of the levy rules or governance practices of the BID can be amended without a full alteration ballot. The BID board may decide to vary the delivery of BID projects and the BID budget without a full alteration ballot, provided the variation falls within the spirit of the original BID proposal.