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Golden Triangle BID

2007 REPORT TO M E M B E R S

Executive Committee As of October 10, 2007 Carlton Diehl Board President Cafritz Company Robert Thompson Board Vice President Manulife Financial Gregory B. Meyer Board Treasurer Penzance Companies Casey Brill Board Secretary PNC Bank David Bender* Blake Real Estate Howard Riker Hines

Board of Directors As of October 1, 2007 Lynne Breaux Restaurant Association of Metropolitan Washington Hans Bruland The Hay-Adams Karla Christensen Jones Lang LaSalle Kathryn Clement Vornado/Charles E. Smith Paul Davis Carr Realty Partners, LLC Jackie S. Duke Brookfield Properties

Marianne Fierst Boston Properties Stanley J. Fineman Wilkes Artis, Chartered Carl Gewirz Past Advisory, Co-Chair, Steven Gewirz* Potomac Investment Properties James Grant ING Clarion William Grillo Cassidy & Pinkard Colliers John Hinton Lincoln Property Company

Scott Mead Lerner Corporation Shaun Pharr AOBA of Metropolitan Washington James Rich Zuckerman Gravely Management Thomas A. Spiegel CB Richard Ellis Sean Warfield Tishman Speyer *Past President

Message to Members
The year 1997 was memorable for many reasons. The first Harry Potter book was published in Great Britain. The movie Titanic, released to critical and popular acclaim, was on its way to becoming the highest-grossing movie ever made. Here in Washington, DC, the Golden Triangle Business Improvement District was chartered, marking the start of another remarkable journey. Ten years ago, the Golden Triangle—the area bounded by the White House and Dupont Circle, bisected by Connecticut Avenue and K Street—was still primarily a business center. When the workday ended, people streamed out of the city to the suburbs. The neighborhood shut down. What a difference a decade makes! Today, the Golden Triangle is a destination in its own right, a commercial center with something for every budget and every taste. It’s a place to browse in upscale shops, a place to meet for a quick drink or linger over a meal, a place to work out hard or sit back and relax. Yet even as it has changed, the Golden Triangle has retained its neighborhood feel and community spirit.

a decade of service
We are proud to have played a part in both these achievements. Shakespeare asked, “What’s in a name?” The names Hospitality and Clean Team Ambassadors do not say it all, but they do capture the essence of our mission: making the Golden Triangle a clean, safe, welcoming place—an environment conducive to growth that attracts businesses as well as people. As we celebrate the close of our first decade of service, we look ahead to renewing the charter of the Golden Triangle Business Improvement District. The following pages provide a review of the highlights of the past year—and a glimpse of where we hope to go in the years ahead.

Carlton Diehl President

Leona Agouridis Executive Director

The Golden Triangle is the central business district of our nation’s capitol— the place to be in Washington, DC. Extending from the White House to Dupont Circle, 42 blocks, the area throbs with city life that offers something for everyone: K Street power brokers, business travelers, tourists on vacation.
A nonprofit corporation, the Golden Triangle Business Improvement District (BID) was created in 1997 to make this vibrant area even more attractive. With an operating budget of $3.6 million for fiscal year 2008, the heart of our program is people helping people. Dressed in bright yellow to stand out from the crowd, our smiling Hospitality Ambassadors do everything from providing sheltering umbrellas to giving directions and answering questions—nearly 850,000 times last year alone. The activities of Clean Team Ambassadors run the gamut from scrubbing graffiti to picking up litter and pulling trash bags—more than 70,000 last year alone. Other initiatives address public safety, capital improvements, transportation, economic development, marketing and communications, and homeless outreach.

Smiling Hospitality and Clean Team

ambassadors

are the heart of our program—they do everything from providing directions to pulling trash bags.

The Board of Directors elected by the BID’s members— every commercial property owner and tenant in the Golden Triangle—oversees these programs. A full-time staff, headquartered in the area, manages day-to-day activities. Our mission: to create a clean, safe, welcoming environment that draws businesses and people to the Golden Triangle. The Golden Triangle’s highly educated, affluent population is a retailer’s dream. More than 71,000 people work in the area. On average, they earn more than $80,000 a year. This translates to a median household income of $120,000, in a region where the median household income is $74,000.

With more than 30 million square feet of commercial space, the Golden Triangle area is home to: • 25,000 parking spaces • 3,600 hotel rooms • 4,000 businesses • 600 retailers • 200 restaurants Foot and vehicle traffic is brisk. The Golden Triangle’s three Metro stations—Farragut West, Farragut North and Dupont Circle South—are among the five busiest in the region, with more than 65,000 people exiting on a typical workday. At lunchtime, nearly 5,000 people walk the single block of Connecticut Avenue bounded by K and L Streets.

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> Developed a vision for the future—a long-term positioning plan to create an urban environment that encourages people to stay and play when the workday ends.

> Organized free Sounds in the Square concerts featuring local artists at a new time, 5 to 7 p.m. Retailers and restaurants provided discounts and specials for concert-goers.

To enhance the area’s

cosmopolitan

character, the Golden Triangle BID:

> Equipped Ambassadors to be true concierges of the street with Community Emergency Response Team training and customer service training provided by the Ritz Carlton. > Regularly “mystery shopped” Hospitality Ambassadors to ensure that they provide high-quality service that enhances the area and helps build community spirit. > For the first time in years, strung festive holiday lights along Connecticut Avenue and K Street, a tradition we plan to continue and expand.

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> Developed a database with mapping capabilities—to create birds-eye views of actual and > Arranged face-to-face meetings between business leaders and heads of government agencies, including Department of Transportation Director Emeka Moneme and Metropolitan Police Chief Cathy Lanier, as part of the Central Business Perspective Series. > Coordinated roundtable discussions among groups with shared goals such as recycling, reducing traffic congestion, and
H St
,

simulated conditions—to help managers make informed decisions about services, regulations, improvements, and more.
Ham New
,

NE W

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Properties in the Golden Triangle BID Current and Planned Redevelopment
19TH ST, NW

MP

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NW

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CHURCH ST, NW

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CHURCH ST, NW

,

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CIR, NW

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P ST, NW

P ST, NW

18th St

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T AVE

HOPKINS ST, NW

,

HOPKINS ALY, NW

TWINING CT, NW

21st St

20th St

21 Dupont Circle

182 Mas 4 s

Du

p o n t C ir
,

69 13 CT 7 136 CT 3136 CT 5 136

MAS

17th St

SAC

HUS ETT S AVE , NW

,

1800-1824 Mass
1326 18th 7 CT 1324 18th 134 CT CT 1322 18th 5 1341343 1 CT 134 7 CT 4 133 131 h 1 CT 18t

O St

O ST, NW

O St

O ST, NW

O St
1333 NH

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,

19th St

1350 CT

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1307 NH

1320 19th

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NEWPORT PL, NW

Sunderland Pl

1330 CT

132 CT 18th 7 3 132 -132 1319 CT

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1301 CT

Ham

20TH ST, NW

N St

N St
Garage 1928 N 1928 N

N St

N ST, NW

1229 19th

16TH ST, NW

1200 19th: Renovations and Expansion, FY08-FY10

1245-1247 20th

,

1300-1909 19th
,

12421244 19th 1234 19th

BATAAN ST, NW

New

1300-1909 19th
,

1300 CT

,
SCOTT CIR, NW

16th St

,

Ave

,

1827 Jfsn. 1825 Jfsn. 1823 Jfsn.

, NW

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1818 N

ticut Ave

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1250 CT

1225 CT
,

WARD CT, NW
,

1233-1243 20th
NW

1220 19th

1225 19th

1821 Jfsn.

1218-1220 CT
JEFFERSON PL, NW

1223

Jefferson Pl

1215 19th 1836 Jfsn. 1834 Jfsn. 1829 M 1832 Jfsn. 1830 Jfsn. 1827 M 1828 Jfsn. 1825 M 1826 Jfsn. 1823 M 1820-22 1821 M 1819 M Jfsn. 1817 M 1818 Jfsn. 1813-1815 1816 Jfsn. M

, NW

NE W

PL

2033 M

1730 Rhode Is.

M St
1916 M

M St
1990 M 2000 M 1147 20th 1133 20th 1900-1906 M 1850 M
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M ST, NW

1711 M

1200 NH

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2025 M

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2101 L: Renovations Opening FY08
Av e hire

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2030 M
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2020 M

1730 M

1155 CT, 1756 M

18th St

1140 19th
,

1145 19th

1155 21st 2106 M 1120 20th

1136 19th 1134 19th 1132 19th

1134 - 1140 CT 1130 CT

1133 CT

1725 DeSales

1717 DeSales

1137 - 1141 19th

De Sales St

DE SALES ST, NW

1705-1707 DeSales 1130 17th Garage

1146 19th

1800 M

,

1126 16th: Roof Height Extended FY08
1125 17th
1128 16th

19th St

1133 21st

1129 20th

1120 19th 1112 - 1118 19th 1111 19th

1150 18th 1111 18th

1127 CT
,

1128 16th

1126 16th

21st St

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1112 16th

2001 L

1901 L

1899 L

1120 CT

1100 - 1108 CT

1101 CT

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2021 L

1823 L

1819 L

1111 20th

1801 L

1625 L

2055 L

1100 17th

2101 L

1707 L

1101 17th

1615 L

1106-1110 16th 1101-1102 16th
,

L St
2100 L

L ST, NW

L St
1920 L 1900 L 1828 L

L St
1050 17th 1616 L

,

2120 L
CHASE CT, NW

1026 21st

2000 L
ALEXANDER CT, NW

1050 CT 1801 K 1015 18th

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1600 L

1620 L

1001 CT

1667 K

Garage

1735 K

Garage

1725 K

Garage

1725 K

2101 K

21ST ST, NW

2131 K

2029 K

2121 K 1909 K

1825 K

2121-2115 K

1775 K

1000 CT

K ST, NW

17TH ST, NW

1845 K

1629 K

Garage

1627 K

1625 K

20332041 K

2001 K 1008 20th

1925 K

1020 19th

CONSTITUTION CT, NW

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,

1602-1614 L

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K ST, NW

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,

,

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2000 K 1990 K 1900 K

1800 K

1776 K
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1750 K 910 17th 1727 I Farragut Park

1666-1623 K

1612 K

1608 K

2100 K

2020 K
,

1700 - 1730 K

1606 K 1604 K Garage 1600 K

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lva nia 2121-2115 K: Ave New Office + Retail Opening FY08

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2099 Penn

2015 I

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919 18th 1835 I 2001-0512 Penn 900 19th 1775 I

900-910 I 1627 I 1625 I

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16th St

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1928 I 1926 I 1924 I 1922 I 1920 I 1718-1720 I

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1729 H

1717 H

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808 17th 800 17th

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801 17th
17TH ST, NW

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800 16th

,

1925 K: Demolition FY08, Will become 1999 K
21st St

,

,

H St
1750 H 1747-1755 Penn 1717 Penn 1710 Penn 1700 H 750 17th

H ST, NW

H St

Murray Murrow Park Park

1775 Penn

H ST, NW

encouraging “green” development.
G St

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1701 Penn

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Ave

801 17th: New Office and Retail Demolition Underway FY08

1801 L: Renovations Work Planned to Begin FY09
G ST, NW

1750 Penn 1730 Penn 1700 Penn

JACKSON PL, NW

1899 L: Add SP-1 Zone FY08

H St Office Space

in

19TH ST, NW

1000 CT/1925 K Demolition FY08

G St
1776-1742 G

1777 F

GTBID Properties
F ST, NW

F St

F St

New Office/Retail Bldg.
,

21st St

20th St

To help members stay

connected

,

Renovation
,

,

18TH ST, NW

18th St

Expansion/Addition

,

1777 F: New Office and Retail Opening FY08
SOUTH

17th St

,

19th St

WEST EXECUTIVE AVE, NW

800 and 808 17th - Renovations Demolition Planned to Begin FY08

,

,

Change/Update Zoning
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STATE PL, NW

VIR

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IA

AV E,

NW

Planned: Renovation No Known Development or Redevelopment

NEW

YOR

K AVE,

NW

E ST, NW

,

E ST EXPY, NW E ST EXPY, NW

the Golden Triangle BID:

> Enhanced safety and communication with monthly meetings where Safety Council members shared information and strategies to limit crime, an Emergency Preparedness Fair conducted with the DC government, e-mail alerts about street and Metro stations closings, and more. > Marked our 10th anniversary by simultaneously looking back and looking ahead—celebrating what has already been achieved while exploring new ways to be of service in the future.

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115 0 CT

1147 CT 1145 CT 1143 CT 1141 CT

1150 17th

Co nnec Av ticut e

Co nnec Av ticut e
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IVE AVE, EXECUT NW
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> Held a Transportation Fair to highlight commuter options and facilities such as bus shelters and bike racks.

> Spread the word that major tourist attractions, ranging from the Smithsonian Institution to Capitol Hill, are easily accessible from three Metro stations within the Golden

> Provided an opportunity for passengers to meet and greet Metro’s new general manager, John Catoe.

Triangle—and three more within a half-mile radius.

To build awareness that the area is

convenient

the Golden Triangle BID:

> Encouraged the use of public transportation through specially equipped Circulator buses that make cross-town connections quick, easy, and fun. > Attracted shoppers with promotional events featuring restaurant discounts, gift bags handed out by Ambassadors at Metro stations, and more. > Published a Shop Golden guide for the holiday season featuring area retailers, restaurants, hotels, and other businesses.

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> Deployed Clean Team Ambassadors six days a week—painting light poles and fire hydrants, maintaining benches and bus shelters, scrubbing graffiti, collecting flyers, and keeping nearly 100,000 square feet of sidewalk free of gum and litter.

> For the first time, involved Clean Team Ambassadors in maintaining the area’s four national parks.

> Addressed vending issues with the DC Departments of Consumer and Regulatory Affairs and Transportation.

To keep the area

clean

the Golden Triangle BID:

> Stepped-up trash pickups by Clean Team Ambassadors—from three > Extended the voluntary agreement with the area’s newspaper distributors to “clean-up days” during which they visited sites, cleared racks, and checked that agreed-upon guidelines are being followed. > Created an environment that sets the standard for neighborhood cleanliness in our nation’s capitol. to five times per day—at the height of the summer tourist season.

GOLDEN TRIANGLE BUSINESS IMPROVEMENT DISTRICT STATEMENT OF FINANCIAL POSITION 2007 ASSETS Cash and cash equivalents Investments in certificates of deposit Accounts receivable, net Interest receivable Prepaid expenses Property and equipment, net TOTAL ASSETS LIABILITIES AND NET ASSETS Liabilities Accounts payable and accrued expenses Deferred rent Deferred tax assessments TOTAL LIABILITIES Net Assets Unrestricted net assets Property and equipment, net Board designated Total Unrestricted Net Assets TOTAL LIABILITIES AND NET ASSETS STATEMENT OF ACTIVITIES SUPPORT AND REVENUE BID assessments Contracts for service Interest income TOTAL SUPPORT AND REVENUES EXPENSES Operations Ambassador Homeless Outreach Program Services Marketing & Communications Administrative Capital Improvements TOTAL EXPENSES Increase in Unrestricted Net Assets STATEMENT OF CASH FLOWS Net cash provided by operating activities Net cash used in investing activities Net decrease in cash and cash equivalents Cash and cash equivalents, beginning of year Cash and cash equivalents, end of year $ 128,289 (34,592) 93,697 $ 1,933,489 1,500,000 32,040 121,580 4,343 125,902 $ 3,717,354

$

40,299 13,147 106,662 160,108

1,744,334 125,902 1,687,010 3,557,246 $ 3,717,354

$

3,394,167 2,500 199,673 3,596,340

1,932,748 102,240 116,162 289,923 862,809 154,361 3,458,243 $ 138,097

1,839,792 $ 1,933,489

This information has been derived from the financial statements audited by Beers & Cutler PLLC. The complete set of audited financial statements are available upon request from Leona Agouridis of the Golden Triangle Business Improvement District Corporation.

Golden Triangle BID
w w w. g t b i d . c o m • 2 0 2 . 4 6 3 . 3 4 0 0 • 1120 Connecticut Ave., NW, Suite 260 • Washington, DC 20036