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CLICK HERE
for up-to-date listings of which Adams Morgan businesses are open during this crisis and what their delivery/carryout/gift card options are.
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Should 18th Street be closed to motor vehicle traffic to give pedestrians more space and to help businesses?
We need your input
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There is interest from a number of businesses along 18th Street to close a portion of the street to traffic and/or expanding the sidewalk in response to the current health crisis. The idea behind the move is to give businesses the opportunity to use the sidewalks to serve customers with more social distancing while allowing pedestrians to use the roadway.
Some concerns that will need to be accommodated include deliveries to the businesses and the ability for food delivery services (and other customers) to pick up food from restaurants. In addition, three bus routes would need to be rerouted and safety and emergency access concerns would need to be addressed as well.
An ad hoc committee has been formed to work on the issue, including representatives from ANC1C, CM Brianne Nadeau's office, and neighborhood businesses and residents. Please indicate on the form if you would like to be a part of that committee (the committee has only met once so far).
It's important to be clear that this endeavor is designed to provide safety and opportunity for small businesses to resume and expand their services; not to entertain large gatherings and spirited neglect of the social distancing guidelines. It is to allow space in our small community and business corridor where inside space is too close for comfort. We are in support of our small businesses to be able to operate safely first and foremost.
We have put together a short form to collect input.
Click Here to complete the form.
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Key Takeaways from the Mayor’s Proposed Budget
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Mayor Muriel Bowser has submitted her
FY 2021 Budget Executive Summary
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She provided a
budget overview
today, joined by Chief Financial Officer Jeffery DeWitt, City Administrator Rashad Young, Office of Budget and Performance Management Director Jenny Reed and Council Chairman Phil Mendelson. Additional budget documents are expected to be transmitted by the end of the day today.
Here are some key takeaways:
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The FY 2021 budget totals $16.7 billion, including $8.542 billion in local funds (a 1.8 percent increase over the revised FY 2020 budget), and a capital budget for FY 2021-FY 2026 of $7.9 billion. The projected pandemic-related revenue shortfall for FY ‘21 is estimated at $774 million. See Budget Overview Slides 10, 13 and 16.
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Based on the high-level presentation offered today, the budget appears to include no meaningful tax increases.
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It does seek to freeze nearly all District hiring, and to forgo public employee Cost of Living Allowances in FY 2021. These decisions are projected to save the District $166 million in FY 2021. See Slide 18.
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The shortfall is filled, in part, by drawing funds from three of the four District reserve funds, including temporary seasonal withdrawals from the Cash Flow Reserve ($775 million), Contingency Cash ($236.4 million out of a $299 million total for additional COVID-19 related expenses, which must be repaid within 1-2 years), and Fiscal Stabilization ($213 million, to be repaid in FY ‘23 and FY ‘24.) A $149 million Emergency Reserve remains untouched and will only be used in the event the District experiences “a second wave of COVID19 or another unforeseen emergency.” See Slide 7.
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CFO Dewitt noted that without these reserves, cutting more than $700 million from the District’s operating budget would, hypothetically, result in the elimination of the combined local budgets for the Departments of Human Services, Disability Services and Parks and Recreation. See Slide 16.
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Additional savings were obtained by fully utilizing the FY 2019 surplus ($322 million), a reversal of the Evans Amendment, which accelerated by one year the payment of bonds issued to help finance Nationals Park ($105 million), and estimated savings from bond refinancing in FY ’21 and FY ’22 ($80 million). See Slide 17.
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Live Webinar on the Viability of Your Business Now and Post Covid-19
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Is Your Business Viable?
Join us as Grisel Saez, Harmoney Financial Literacy, will help you determine the viability of your business in this current economic environment.
The emergency shutdown has many business owners questioning how viable is their business as they figure out their next steps, and what they should be doing differently to sustain their business. Determining a feasible path forward isn't purely an emotional decision, businesses have to "run the numbers".
WHAT YOU WILL LEARN:
In this one-hour webinar,
Is Your Business Viable?
, participants will learn how having a robust, up to date and complete financial information about their business will help in either obtaining funding or making the decision to sell/close their business. Participants are encouraged to have one-page strategy prepared and a current snapshot of the financials of their business. The facilitator will discuss:
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How long can you operate your business under current economic conditions
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Do you know your numbers
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What action steps should you be taking now
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What financial tools and resources are available
Tuesday, May 26 at 11:30 AM
Register Here
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We have received some additional PPP guidance from the SBA which released its first public version of the PPP Loan Forgiveness Application.
Click here
for the application and instructions. REMINDER: Today is the deadline for you to return PPP funds, if you decided PPP is not right for you. The application provides us with much clearer guidance on what supporting documents to gather as well as draft calculation forms to show the forgiveness calculations.
The PPP Loan Forgiveness Application was not expected to codify major changes to the PPP forgiveness calculations or change the rules. These adjustments will likely be made through Congress or potentially directly from Secretary Mnuchin.
Below is a quick breakdown of what we learned from the application.
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FTE Calculation: The SBA decided the FTE calculation will be based on 40 hours per week, which is the best possible interpretation for small businesses, and you'll have to hire fewer people to get back to your FTE count.
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Alternative Payroll Covered Period: For simplicity, the SBA is allowing you to align your forgiveness request with the nearest 8-week / 56 day period after receipt of the loan that corresponds with your payroll cycle, so you won't have to run off-cycle payrolls to get your payroll counted.
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Utilities: the SBA has clarified that these will be for electricity, gas, water, transportation, telephone, and internet access.
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Owners/Partners: these individuals are not included in the FTE calculations (either before or after). The SBA has also provided clear space for guaranteed payments, etc, so owners do not need to have their pay run through a payroll system for you to be able to easily report it.
In other PPP news,
the
HEROES Act,
which
directly addresses major issues with PPP such as extending the covered period, passed the House on Friday evening. With the HEROES Act passed as a Democratic led bill, it is unlikely the Senate will take a vote on it in its current form. Senate Democratic Leader Chuck Schumer has endorsed the PPP changes and will seek to integrate them into anything moving in the Senate. We will keep you posted as we learn more.
In DC, the Council will vote tomorrow on additional Emergency Legislation.
Chairman Mendelson noted today that the legislation mostly polishes previously passed bills that provide relief measures for the residents and businesses of the District. The legislation has gone through many changes from when it was originally shared in its draft form 48 hours ago, but appears to clean up the provision of mortgage deferrals and rent repayment plans.
We will share updates and details once it is available after tomorrow’s vote.
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DSLBD Presents: #BuildBackBetterDC
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DSLBD is proud to debut
#BuildBackBetterDC
, a digital learning series for small business experts and owners to share insights and resources with the entire small business community during these unprecedented times.
Follow
@SmallBizDC
on social media and stay tuned!
#DCHOPE
Click Here to watch the video
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Last month, more than 250 members of the Business Community of the Metropolitan Washington region signed a joint letter urging members of Congress to allocate a minimum of $1.25 billion to the District of Columbia for the purposes of COVID-19 relief and to ensure adequate relief funding for the District going forward. The letter, which was organized by the Federal City Council, demonstrates support from regional businesses of all sizes and calls upon Congress to act to address this critical issue.
On Friday, the US House of Representatives passed a bill that includes this funding for the District. It is an important milestone and one that we may not have reached without the support of this community. I would like to thank each of you for helping us get to where we are today.
Of course this is just one step in the process of securing adequate funding. Next week, we will be re-sending our letter to the Senate to ensure that the business community’s support is represented as negotiations continue. Since the original delivery of the letter, we have collected more than 150 additional signatures.
Please forward this email to at least one business owner or operator who you know who may not have already signed the
letter
and ask them to please
sign it by Tuesday, May 19 at 5pm
. The goal is to collect as many signatures from as many businesses as possible to show broad support for this cause.
Sign on HERE.
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The Present And Future Of DC Restaurants
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The pandemic has been devastating to Washington’s restaurants, with 40% closing as of early April. What effects does this have on our city’s economy and culture? Join our team of reporters and local experts — including Sage Ali, co-owner of Ben's Chili Bowl — for a lunchtime discussion about our local restaurant industry.
May 21 at noon
REGISTER HERE
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Getting Transportation Back on Track
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Our economic recovery will depend on a robust, functional transportation system—and that system is currently in financial jeopardy as would-be travelers stay home. Join us for a virtual conversation with transportation leaders and experts to better understand the challenges that lie ahead and how the sector is responding.
Tom Dohrmann
, cofounder and lead of McKinsey & Company’s Public Sector Practice, will share analysis from McKinsey on national trends and then moderate a conversation with
Paul Wiedefeld
, General Manager and CEO of WMATA;
Ricky Smith
, Executive Director of BWI Thurgood Marshall Airport; and
Jack Potter
, President and CEO of the Metropolitan Washington Airports Authority (MWAA).
Tuesday, May 19, 11:30 AM - 12:30 PM
Register here
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Webinar:
Attracting customers doesn’t have to be expensive
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Small business expert Steve Strauss talks with host Julie Hyman
to share easy, affordable ways you can find new customers, even in
these challenging times.
Tuesday, May 19, 2020 at 2PM ET
Register now
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"Buy Restaurant Bonds" campaign encourages customers to support restaurants by gift card purchases
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The Adams Morgan Partnership is trying to help restaurants and bars that have forced to close or severely limit their services by encouraging customers to purchase gift cards for future dining. We are trying to make a splash with this campaign -- modeled after the
Buy War Bonds
campaigns of WWI and WWII -- to help draw attention to our 100+ restaurants and employees that are facing an uncertain future. Please join in via your own social media accounts using the hashtag
#BuyRestaurantBonds
Please tag us in your social media posts about the operating status of your business so we can pass the information along.
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SPONSORSHIP OPPORTUNITIES
Sponsor one of our community events! Partner with our community while reaching some of the city's most desirable demographics. For details, contact
Kristen Barden
at
202-997-0783.
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©
Adams Morgan Partnership
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