Adams Morgan Partnership Business Improvement District (AMPBID) will hold a Special Membership Meeting on Tuesday, April 10, 2018 at 5pm in the Festival Center conference room at 1640 Columbia Road, NW.
At the March 13, regularly scheduled monthly AMPBID Board of Directors meeting the board voted affirmatively (12 yes, 1 no and 2 abstentions)
to approve a reduction to the AMPBID tax rate
. There was a quorum present at the meeting.
The proposed reduced tax rate will be a two-tiered BID tax rate structure as follows:
-
$.19 per $100 of the total assessed value for all non-exempt commercial properties in the BID boundaries, and
-
$.175 per $100 of the total assessed value for all hotels with 100 or more rooms to allow for other hotel properties.
The proposed lower AMPBID tax rate must be affirmed by the AMPBID membership at a meeting called for that purpose.
To meet those obligations, we will hold a Special Meeting on Tuesday, April 10, 2018 at 5 PM to ratify the reduced tax rate. Business and property owners will be recieving this information through the mail.
The voting procedure is further described here:
AMPBID Special Meeting Voting Process
Quorum
In order for the voting to proceed, there must be a quorum established. A quorum requires the presence in person or by proxy, of the Members holding 25% or more of the outstanding votes in the Corporation, with the majority being property owners and representing 10% of all commercial properties (at least 21 properties) and 10% of all commercial tenants (at least 25 commercial tenants).
Voting
At the beginning of the meeting, each BID member will be offered a ballot (or ballots) based on what “class” of member they are (either a business owner or a property owner or both). Someone who is both a property owner and a business owner will be offered two ballots. Each ballot will include the resolution passed on March 13.
Each ballot will specify the amount of votes each member is allocated. For business owner members, this is based on the number of leases that they hold (i.e. a member with one business will get one vote, a member with two businesses two votes, etc.). For property owners, this is based on the amount of BID tax that property is assessed (regardless of who actually pays the tax). For each $500 of taxes due, a property owner receives one vote. For example, a property with an annual BID tax of $1350 would generate 2.5 votes.
Per the by-laws, any properties for which BID taxes are over 60 days delinquent, may not vote at this special meeting.
For each class of member, the ballot will include the resolution and members will vote in support of or against the proposed BID tax rate reduction.
Proxies
Pursuant to the BID bylaws, those interested in voting in the special meeting by proxy can either use the attached form or can develop their own form, as long as it includes:
•
the date of the meeting at which it is applicable (April 10, 2018)
•
full names, addresses and the dated signatures of both the individual issuing the proxy and the individual who received it
•
the signature of the witness(es) to the signatures that also lists the full name and address of the witness
All proxy forms must meet all these criteria to be accepted.
To request additional proxy forms or if you have any questions on this process please call Kristen at the BID office 202-997-0783 or email her at:
Kbarden@adamsmorganonline.org
.
Toys 'R' Us: It all started right here in Adams Morgan
Residents and community organizations are invited to attend the
