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Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
Business Incentives | Industrial Revenue Bonds | Doing Business 2.0
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Business Incentives | Industrial Revenue Bonds | Doing Business 2.0

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The Deputy Mayor's Office for Planning & Economic Development's Industrial Revenue Bond program gave an overview of IRB process and benefits available to DC businesses at the Washington, DC Economic …

The Deputy Mayor's Office for Planning & Economic Development's Industrial Revenue Bond program gave an overview of IRB process and benefits available to DC businesses at the Washington, DC Economic Partnership’s Doing Business 2.0 seminar (6/12/13).

Published in: Business, Economy & Finance
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  • 1. William A. Liggins, DirectorDC Revenue Bond & Enterprise Zone ProgramOffice of the Deputy Mayor for Planning and Economic Development1100 4thStreet, S.W., Suite E500, Washington, D.C. 20024202-724-6199 202-724-9007 (Fax)www.dcbiz.dc.gov
  • 2. What is the Revenue Bond/Enterprise Zone Program?The District of Columbia Revenue Bond Program providesbelow market interest rate loans to help lower the cost of fundsavailable for capital projects.These bonds are used to finance a wide variety of projectsincluding: health care, housing, transit and utility facilities,recreational facilities, health facilities, manufacturing, sports,convention and entertainment facilities, elementary, secondary,college, and university facilities, student loan programs,pollution control facilities, and industrial and commercialdevelopment.
  • 3. Bond IssuanceProgram funds are generated through the issuance and sale ofDistrict of Columbia revenue bonds, notes, or otherobligations.Proceeds from the sale of tax-exempt issuances may be used tofinance, refinance and reimburse costs of acquiring,constructing, restoring, rehabilitating, expanding, improving,equipping and furnishing real property and related andsubordinate facilities.Limitations may apply to the use of bond proceeds for theacquisition of land and the purchase of existing property,depending on the location of the site and the type of applicant.
  • 4. 1APPLICANTCompletedApplication2IRB PROGRAM3DC Agencies3Bond & OAG5CLOSING4Council Approval4TEFRA Hearing3Legal and Finance Working Group Sessions10 Days 20 Days 15 Days 15 DaysTransmit ApplicationRegulatory ReviewsPublic HearingNoticeLegal ReviewsProcurement/Set ScheduleTransmitApplicationRevenue Bond Timeline
  • 5. Fiscal Year 2012 Revenue Bond DealsClients Type Amount Issued Closing Date PurposeAssociation of AmericanMedical Colleges Association $109,335,000 11/2/2011Acquisition/Refi/ConstructionOptions PCS Education $10,642,000 11/18/2011 Refunding/RefinanceHillel Cultural $7,000,000 12/7/2011Modification/ConversionEL Haynes PCS Education $13,350,000 2/22/2012Construction/RenovationWashington Yu Ying PCS Education $10,275,000 2/23/2012Acquisition andRenovationKingsbury Center Education $11,000,000 4/2/2012Refunding andRenovationGeorgetown Day School Education $30,200,000 4/4/2012 ConversionAmerican Society ofHematology Association $33,155,000 5/2/2012 ConversionDC Consortium Bond Education $15,150,000 6/1/2012 ConversionAmerican EducationResearch Association Association $6,900,000 8/17/2012 RefundingGonzaga High School Education $12,000,000 8/31/2012 ConversionCouncil on Foreign Relations Association $62,680,000 9/4/2012 ConversionTotal FY 2012 Deals $321,687,000
  • 6. Fiscal Year 2013(To-date) Revenue Bond DealsClients Type Amount Issued Closing Date PurposeWesley Theological Seminary Education $19,615,000 10/1/2012 Ref/Refi/RenovationJohn F. Kennedy Center Cultural $26,400,000 10/1/2012 ConversionFriendship Public Charter School Education $35,780,000 10/30/2012 Ref/Refi/RenovationPhllips Collection Cultural $12,465,000 11/1/2012 ConversionHoward Road Academy PCS Education $4,400,000 11/30/2012 ConversionNational Academy of Sciences Scientific $118,445,000 12/3/2012 ConversionEdmund Burke Education $13,000,000 2/1/2013 ConversionProvident Resources - HowardUniversity Student Housing Education $107,965,000 2/14/2013 New ConstructionAssociation of American MedicalColleges Association $42,385,000 2/28/2013 ConversionField School Education $31,235,000 3/18/2013 Construction/RenovationLowell School Education $15,000,000 4/1/2013 Construction/ RefinanceNational Public Radio (NPR) Association $87,430,000 5/2/2013 RefundingCenter for Global Development Association $13,360,000 6/3/2013 Acquisition/RenovationIndependent Sector Association $11,600,000 6/4/2013 ConversionTwo Rivers Public CharterSchool Education $14,500,000 6/7/2013 Refi/RevovationTotal FY 2013 Deals $553,620,000
  • 7. 1329 Kenilworth Ave., NE2004 Bond Issuance: $2,800,000
  • 8. 140 L Street, SE2005 Bond Issuance:$15,000,000
  • 9. John F. Kennedy Center for the Performing ArtsNew Hampshire Ave. and F Streets,NW
  • 10. Children’s Hospital111 Michigan Ave., NW2008 Bond Issuance:$250,000,000
  • 11. The Brookings Institution1775 Massachusetts Ave, NW2008 Bond Issuance: $40,000,000
  • 12. 3600 Georgia Avenue, NW2008 Bond Issuance: $1,510,000
  • 13. 500 Fifth St., NW2008 Bond Issuance: $57,500,000
  • 14. 1900 M Street, NW2008 Bond Issuance:$33,965,000
  • 15. 5255 Loughboro Road, NW2009 Bond Issuance: $63,000,000
  • 16. (Community Capital Corporation)1100 Harvard Street, NW$9,300,000Carlos Rosario Public Charter School
  • 17. 39th& O Streets NW2009 Bond Issuance: $121,000,000
  • 18. The EndFor any questions, comments, or concerns my contactinformation is listed below:Gregory Johnson, Project ManagerDC Revenue Bond & Enterprise Zone ProgramOffice of the Deputy Mayor for Planning and Economic Development1100 4thStreet, S.W., Suite E500, Washington, DC 20024202-724-7299 202-724-9007 (Fax)gregory.johnson2@dc.gov

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