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RESOLUTION NO. 2019-46 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF 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, <br />2019 TO JUNE 30, 2020, AND FIX THE TIME AND PLACE <br />OF A PUBLIC HEARING <br />WHEREAS, the Corona del Mar Business Improvement District ("CdM BID") was <br />established in 1997 by Ordinance No. 97-24, pursuant to the Parking and Business <br />Improvement Area Law of 1989, California Streets and Highways Code, Sections 36500 <br />et seq., ("1989 Law"), which requires an annual report to be filed and approved by the <br />City Council of the City of 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 2018-2019 fiscal year which is on file in the City Clerk's <br />Office ("Annual Report"); and <br />WHEREAS, on June 11, 2019, 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, 2019 to June 30, 2020, 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, 2019 to June 30, 2020, 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 be exempt <br />from this assessment: <br />