  We propose a new definition for the mass and angular momentum of neutral or
electrically charged black holes in 2+1 gravity with two Killing vectors. These
finite conserved quantities, associated with the SL(2,R) invariance of the
reduced mechanical system, are shown to be identical to the quasilocal
conserved quantities for an improved gravitational action corresponding to
mixed boundary conditions. They obey a general Smarr-like formula and, in all
cases investigated, are consistent with the first law of black hole
thermodynamics. Our framework is applied to the computation of the mass and
angular momentum of black hole solutions to several field-theoretical models.
