AMPBID Board meeting December 8th at 5 PM

More information about tax benefits for businesses in Enterprise Zones

Meeps has new owners - Welcome Party - December 6

Update on Champlain Street sewer collapse repair

Holiday Arts and Gift Market - December 17

AMPBID Board meeting - December 8th at 5 PM

The next AMPBID Board meeting will be Thursday December 8th, 2011 at 5 PM at the MPD Third District Headquarters in the Snyder Conference Room at 1620 V Street, NW.

Hope you can join us!

Board members: Please call or email Kristen at 202-997-0783 or

kbarden@adamsmorganonline.org if you are unable to attend otherwise we will assume you are attending. Thanks. Meeting materials will be sent early next week.

More information about tax benefits for businesses in Enterprise Zones

Enterprise Zones provide federal tax benefits to businesses that operate in areas with a high poverty rate. Because the zones have not changed since the 1990 census, many neighborhoods in DC that you might not expect are eligible - like Adams Morgan.

Here is a summary of several key benefits that are available to businesses in the zones. Kristen Barden has a copy of Publication 954 (32 page booklet) issued by the IRS called: Tax Incentives for Distressed Communities if anyone would like a copy please let her know by calling 202-997-0783 or emailing her at: kbarden@adamsmorganonline.org

Employee Tax Credits

Depending on your zone (they are divided into primary and secondary), you could be eligible for a federal tax credit up to $3,000 or up to $1,500 annually per DC resident you employ. There is no certification process required; you simply claim this benefit on your federal tax return. The IRS form is available at this link: http://www.irs.gov/pub/irs-pdf/f8844.pdf

Increased expending allowance

Section 179 of the Internal Revenue Code allows you to deduct all or part of certain qualifying property in the year you put it into service. You can choose to do this rather than taking depreciation deductions over a specified recovery period. This deduction is limited, but in an enterprise zone the limit is higher. If you made major real property, equipment, or other depreciable assets this year, you should discuss this option with your accountant.

Federal capital gains tax exemption

If your business derives 80% of its gross revenue within the zone, you are eligible for exclusion of federal capital gains taxes on the sale of stock, partnership interests, or property. The investment must be held for a minimum of five years.

Tax exempt bond financing

Qualified enterprise zone businesses are eligible for below market rate loans up to $15 million. Loans can be used for the purchase, construction, or renovation of a building, equipment acquisition, and tenant improvements. Because the cost of securing and issuing the bonds is so high, this financing method is only recommended for investments of at least $2 million.

Meeps has new owners - Welcome Party - December 6th

Today, December 1st, owners of Treasury Vintage, Cathy Chung & Katerina Herodotou took over the Adams Morgan vintage boutique, Meeps. The name and location will stay, with a promised new energy and focus. Since its days as a petite hideaway for the city’s hippest hunters to its welcome expansion in Adams Morgan, Meeps has held a special place in the hearts and history of DC’s vintage retail community. Meeps’ reputation as the go-to vintage clothing spot has only grown as the shop represented distinctive expertise in local and national media.

After four years of participating in the thriving vintage scene in Washington D.C., first with pioneering pop-up shop Listopad in 2007 and then, since 2009, with their acclaimed 14th Street vintage boutique Treasury, Cathy Chung and Katerina Herodotou are thrilled to carry on the Meeps legacy. Having been avid shoppers of Meeps, they are excited to add their own contemporary curatorial touch to the newly envisioned space.

Meeps will continue to offer the freshest selection of the best affordable casual vint

Starting in early 2012, Meeps will begin a Buy-Sell-Trade system that will enable a rotating selection of gently used items from current designers and popular retailers. The new Meeps will expand its fashionable reach by offering hand-picked current and vintage items side-by-side. Local designers will still be represented in-shop, and, new artists and designers are encouraged to get in touch. Plans for a shop redesign are in place for 2012. Next year will mark Meeps’ second decade in the District and Chung and Herodotou are so happy to be able to continue the Meeps legacy for many years to come.

Please come celebrate this new era of Meeps next Tuesday, December 6! The launch party will feature DJs Baby Alcatraz (Smashing Time) and Sara (Kicks!, Pow Wow), sparkling drinks and snacks from 5 PM to 9 PM.

They will be offering a tremendous sale of current and inventoried stock to make room for our new offerings – FILL A BAG for $20!

WHAT: MEEPS Welcome Party
WHEN: Tuesday, December 6, 2011, 5PM – 9PM
WHERE: 2104 18th Street NW

For more information, please visit www.shoptreasury.com , www.meepsdc.com or contact Cathy Chung at cathy@shoptreasury.com or (202) 506-6908. Meeps is located at 2104 18th St, NW Washington, DC 20009.

Update on Champlain Street sewer collapse repairs

Holiday Arts and Gift Market - December 17th

Henson Arts In Learning  (HAIL) a 501(c) 3 non-profit organization based in Adams Morgan will hold its first annual Holiday Arts and Gift Market at the First Church of Christ Scientist, 1770 Euclid Street, NW Washington, DC 20009 (on the corner of Euclid and Champlain St) Saturday December 17th 2011, from 9 am -5 pm.

This fundraising event will support HAIL’s weekend and summer youth arts programs. The event will host twenty-five local artists, craftspeople and vendors. Come and shop for fine arts, kente weavings, jewelry, baked goods, gift baskets and more.

The event is done in coordination with Quintessential Consulting. Vendors are still being accepted. To register for a table contact askewa@gmail.com or JoAnne Henson at: henson1221@juno.com . Deadline for registration is December 6, 2011.  Make checks or money order to Henson Arts In Learning. There is a small fee for each vendor.

You can support HAIL with in kind services of gift baskets, coupons, bags, tissue paper, samples, printing services and framed work. Donated items will be raffled during the event. All donations are tax deductible and sponsors will be listed on the HAIL website and fliers.

www.hensonartsinlearning.org