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RESOLUTION NO. 2018-28 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />NEWPORT BEACH, CALIFORNIA, DECLARING ITS <br />INTENTION TO RENEW THE CORONA DEL MAR <br />BUSINESS IMPROVEMENT DISTRICT AND LEVY <br />ASSESSMENTS FOR THE FISCAL YEAR OF JULY 1, 2018 <br />TO JUNE 30, 2019, AND FIX THE TIME AND PLACE OF A <br />PUBLIC HEARING <br />WHEREAS, the Corona del Mar Business Improvement District ("CdM BID") was <br />established in 1997 pursuant to the Parking and Business Improvement Area Law of <br />1989, California Streets and Highways Code, Sections 36500 etseq., ("1989 Law"), which <br />requires an annual report to be filed and approved by the City Council of the City of <br />Newport Beach ("City") for each fiscal year, <br />WHEREAS, the advisory board, known as the CdM BID Board of Directors, has <br />prepared an annual report for the 2017-2018 fiscal year which is on file in the City Clerk's <br />Office ("Annual Report"), and <br />WHEREAS, on June 12, 2018, the Annual Report was filed with and approved by <br />the City Council. <br />NOW, THEREFORE, the City Council of the City of Newport Beach resolves as <br />follows: <br />Section 1: The City Council hereby declares its intention to renew the CdM BID <br />for fiscal year July 1, 2018 to June 30, 2019, pursuant to the 1989 Law. <br />Section 2: The City Council hereby declares its intention to levy assessments for <br />the CdM BID for the fiscal year July 1, 2018 to June 30, 2019, pursuant to the 1989 Law. <br />Such benefit assessment shall be as follows: <br />A. Banks and financial institutions that are exempt from City business license <br />regulations shall be assessed Five Hundred Dollars ($500) per year. <br />B. Insurance agencies that are exempt from City business license regulations <br />shall be assessed Two Hundred Fifty Dollars ($250) per year. <br />C. Persons operating one of the following types of businesses as an <br />independent contractor in an establishment owned by another person shall <br />be exempt from this assessment.- <br />1. <br />ssessment: <br />1. Hair stylists <br />2. Nail technicians <br />3. Real estate agents. <br />D. The assessment for all other businesses within the CdM BID shall be one <br />hundred fifty percent (150%) of the annual business license tax as <br />established pursuant to Newport Beach Municipal Code ("NBMC") Chapter <br />5.08. <br />