June 19, 2024
Lori Ann Farrell Harrison
City Manager
City of Costa Mesa
77 Fair Drive
Costa Mesa, CA 92627
RE
: Request for Financial Support from ARPA Local Relief Funds and Recovery Act Dear Ms. Farrell Harrison,
I am writing on behalf of the Costa Mesa Chamber of Commerce requesting financial support of $123,759 from the American Rescue Plan Act (ARPA) Local Relief Funds and Recovery Act administered by the City of Costa Mesa. This request is made in light of the significant loss of revenue the Chamber experienced during the years 2020 and 2021 due to the COVID-19 pandemic.
The Chamber’s primary revenue streams, membership dues, and events, were severely impacted during this period. Due to the financial challenges faced by many businesses, a large number of our members were unable to afford their membership fees. To support these financially challenged businesses, the Chamber provided credits, allowing them to maintain access to Chamber benefits. Consequently, the net revenue loss from membership dues was $95,142 in 2020 and $37,990 in 2021, resulting in a combined total loss of $133,131.
Additionally, the Chamber’s annual events, which are critical to our annual revenue, were highly impacted by COVID-19, and by staff reductions. Our key signature events, such as the annual golf tournament, the annual Student Achievement Awards Dinner, and the Mayor’s annual State of the City Luncheon, as well as supplementary events like the Leadership Forum and Speaker Series, were all significantly affected. The net revenue loss from these events amounted to $93,435 in 2020 and $26,005 in 2021, totaling a combined loss of $119,439.
In total, the financial impact of COVID-19 on the Costa Mesa Chamber of Commerce resulted in a loss of $252,570. The requested financial support of $123,759 from the ARPA Local Relief Funds would provide the Chamber with much-needed financial assistance to recover from these losses and ensure the Chamber's current and future growth. This funding will help us continue to support local businesses, foster economic development, and enhance the overall well-being of our community.
We deeply appreciate the City of Costa Mesa’s consideration of our request. Your support will make a significant difference in our ability to serve the business community during these challenging times.
Thank you for your attention to this matter and for your continued commitment to the prosperity of Costa Mesa.
Sincerely,
President and CEO
Attachments
1870 Harbor Blvd., Ste. 105 Costa Mesa CA Ph: (714) 885-9090 www.costamesachamber.com Yr to Yr Diff Yr to Yr Diff Combined Loss
MEMBERSHIP 2019 2020 2021 2019 - 2020 2019 - 2021 2020 & 2021 Total Revenue$215,375 $120,233 $177,385 ($95,142) ($37,990) ($133,131) Yr to Yr Diff Yr to Yr Diff Combined Loss
CHAMBER EVENTS 2019 2020 2021 2019 - 2020 2019 - 2021 2020 & 2021 Event Gross Inc $210,704 $30,899 $114,190 ($179,805) ($96,514) Tot Event Exps $99,518 $13,147 $29,008 ($86,371) ($70,510) Net $111,187 $17,752 $85,182 ($93,435) ($26,005) ($119,439) ($252,570)
Costa Mesa Chamber Lost Revenue for Calendar Yrs 2020 & 2021 Total Combined Loss