CdM BID is Approved for Fiscal Year 2020-2021
The Corona del Mar Business Improvement District was officially renewed by City Council for FY 2020-2021. Each fiscal year the BID Board of Directors submits its budget, annul report and goals to the City for renewal to operate for the upcoming fiscal year beginning July 1st thru June 30th. During this time of the Covid-19 Crisis, the City has taken into consideration the difficult times endured by our local businesses and has contributed additional funding to assist us market the CdM District and assist with Re-opening and Recovery.
Renewal Preparations Approved:
The CdM BID Advisory Board of Directors worked hard on accomplishing goals and projects in the last fiscal year ending on June 30, 2020 and presented goals for the current year to assist our businesses. With completion of the following process, the CdM BID has been approved for the following items:
- Approval of Nominated Board of Directors.
- Annual Report recapping Fiscal Year 2019-2020.
- Goals & Priorities for Fiscal Year 2020/2021
- Annual Budget
- City approved vendor contract renewals
- City Council Approval of BID renewal for FY 2020/2021
For Annual Reports, Visit Annual Reports
The Corona del Mar Business Improvement District (CDM BID) conducts business on the City’s fiscal year beginning July 1st and ending on June 30th of each year. The CDM BID is renewed by City Council each fiscal year by submitting an annual report on the prior year activities and expenditures, and submitting budgets and priorities for the upcoming fiscal year.
The CdM BID was formed pursuant to the Parking and Business Improvement Area Law of 1989, codified in Streets and Highways Code Sections 36500 et seq., for the purpose of financing physical improvements, activities and programs that benefit the businesses located and operating within the area.
The CdM BID territory encompasses the area generally located on East Coast Highway from Hazel Drive to Avocado Avenue in Corona del Mar (CdM BID boundary map).