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Dear Friends & Colleagues,
I am excited to share our latest BID Bulletin with you. I believe that highlighting trends and innovations within the BID industry, as well as developments within the broader sphere of destination management, has never been more important.
Our Bulletins follow on from our hugely successful February Masterclass, which spotlighted Sydney Harbour and CityCo in Manchester to an audience exceeding 150 practitioners – today, we announce the date and line-up for the second in the series.
I am thrilled that the Locus team is now the preferred partner for so many of you. As our portfolio continues to develop, we will not compromise on our core values of working in extraordinary places, on innovative projects, and with amazing people.
So, whether you want technical advice, need support during development and ballot, or are about to start executive recruitment, please contact us, we would be delighted to hear from you.
Please, enjoy the Bulletin.
Paul Clement
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Ballot Timetable Confusions
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At Locus, we’ve recently spotted a trend in which BIDs have been miscalculating aspects of their Ballot timetables.
To clarify, the minimum Ballot period is 28-days, but some BIDs have been calculating the final day (Ballot Day) as ‘Day Zero’, meaning that they are ending up with unintended 29-day Ballots.
Ballot timelines are confusing as, elsewhere in the Regulations and for other purposes, Ballot Day is considered Day Zero. But, to make sure you aren’t balloting for longer than you need, pick your Ballot Day and call that ‘Day 1’, the Day before is ‘Day 2’……and so on until you reach ‘Day 28’ which is the first day of Ballot.
Two other tips are that, unlike some other timelines within the Regulations, the Ballot Days include weekends and bank holidays (though the Ballot Day must be a working day) and Ballot papers can go out and be returned prior to the first day.
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For any BID approaching a ballot over the next 2-years, the planning should be starting now. Typically, it takes 12-months to develop full BID Proposals that will be future-proofed and so last the course for 5-years.
Our ‘Build A BID’ service will give you all the tools you will need throughout the development and ballot phases - from how to interpret the Regulations, to what you mustn’t forget to include in your BID Proposal; from how to develop a ballot timeline, to what it takes to win in the end. It is an exciting product that aims to contain all the tools and guidance a BID approaching ballot could possibly need, all in one place, available to you at all times, as much and as often as you need.
Please have a look at www.buildabid.co.uk, or contact us at info@locusms.com for a free demo.
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When things go wrong in a BID, it can often be due to governance. The so-called Nolan Principles, devised by Lord Nolan in 1995 to guide the conduct of Directors and Trustees in public life, can be useful when voluntarily adopted by BIDs to explain how all Board members must conduct themselves. The 7 Principles are:
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How does your organisation measure up?
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In our first Masterclass, Jace Tyrell, CEO of New Sydney Waterfront, proposed that the typology of BIDs around the world might become confusing and the inclusion of ‘Business’ a restricting factor. He suggested that the fact that BIDs received their funding primarily from businesses should not be a reason to exclude wider stakeholders (e.g. residents) from their work.
Jace suggested that the model is best referred to simply as an ‘Improvement District’ and we are noticing that the concept is already catching on.
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Recently, Locus have partnered with a number of BID Boards in developing comprehensive Candidates’ Packs to attract top talent into senior roles. We leverage our knowledge of the BID community & undertake extensive discussions with the BID board to pinpoint exactly what each of our partners needs from the position. We are delighted to have helped Cambridge BID and Herefordshire County BID to recruit new CEO's, and we look forward to the fantastic work they will do.
We are now working with MyMiltonKeynes to recruit their new CEO. The MK BID has income of circa £1 million a year, making it one of the largest outside London. The BID covers the city centre area including the main shopping schemes of Centre:MK (including M&S and John Lewis) and Midsummer Place (with Zara, New Look and Sports Direct). Also included is Xscape, one of the largest leisure complexes in the UK, and a host of large corporate headquarters such as Network Rail and Santandar.
If you have a senior leadership background and operational expertise, this could be the one for you.
To download the Candidates’ Pack, visit this link.
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Following the success of our first ‘BIDs, National Trends and Implications on Ballot’ Masterclass in February, the concept is back, bigger and even better!
On Wednesday 27th September (10:00 AM - 11:00 AM BST) our next Masterclass will continue the theme by visiting the main hubs for BIDs in America (New York) and the UK (London). When the Tony Blair government was considering introducing BIDs, it looked to New York for lessons and inspiration. Now, more than 20-years later, we explore how the two global cities compared and what trends are emerging amongst their BIDs?
From the East Coast, we will be joined by the President of the Bryant Park Corporation, Dan Biederman who has been involved with some of the New York’s most high-profile BIDs including Grand Central which covers 70 Blocks in the heart of Midtown, close to the famous Central Park.
Meanwhile, from the London perspective will be Ros Morgan, Chief Executive of Heart of London Business Alliance which operates four BIDs collectively shaping the West-End including some of our most iconic destinations such as Piccadilly Circus and Leicester Square.
You won’t want to miss this global showcase so secure your place now by heading to this link.
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