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RESOLUTION NO. 2020-58 <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 />2020 TO JUNE 30, 2021, 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 pursuant to the Parking and Business Improvement Area Law of <br />1989, California Streets and Highways Code, Sections 36500 et seq., (1989 Law"), which <br />requires an annual report to be filed and approved by the City Council 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 2019-2020 fiscal year which is on file in the City Clerk's <br />Office ("CdM BID Annual Report"); and <br />WHEREAS, on June 9, 2020, the CdM BID Annual Report was filed with and <br />approved by 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, 2020 to June 30, 2021, pursuant to the 1989 Law. <br />Section 2: The City Council hereby declares its intention to levy assessments <br />for the CdM BID for the fiscal year July 1, 2020 to June 30, 2021, pursuant to the 1989 <br />Law. 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 />