Revenue Bonds | DMPED | Entrepreneur Road Map

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The Revenue Bond Program spoke at the WDCEP's Entrepreneur Road Map Financial Incentives seminar held at Venable (8/13/14). Revenue Bonds can be used to help finance new construction, renovations or capital costs.

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Revenue Bonds | DMPED | Entrepreneur Road Map

  1. 1. William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program Office of the Deputy Mayor for Planning and Economic Development 1100 4th Street, S.W., Suite E500, Washington, D.C. 20024 202-724-6199 202-724-9007 (Fax) www.dcbiz.dc.gov
  2. 2. What is the Revenue Bond/Enterprise Zone Program?  The District of Columbia Revenue Bond Program provides below market interest rate loans to help lower the cost of funds available for capital projects.  These bonds are used to finance a wide variety of projects including: 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 commercial development.
  3. 3. Bond Issuance  Program funds are generated through the issuance and sale of District of Columbia revenue bonds, notes, or other obligations.  Proceeds from the sale of tax-exempt issuances may be used to finance, refinance and reimburse costs of acquiring, constructing, restoring, rehabilitating, expanding, improving, equipping and furnishing real property and related and subordinate facilities.  Limitations may apply to the use of bond proceeds for the acquisition of land and the purchase of existing property, depending on the location of the site and the type of applicant.
  4. 4. 1 APPLICANT Completed Application 2 IRB PROGRAM 3 DC Agencies 3 Bond & OAG 5 CLOSING 4 Council Approval 4 TEFRA Hearing 3 Legal and Finance Working Group Sessions 10 Days 20 Days 15 Days 15 Days Transmit Application Regulatory Reviews Public Hearing Notice Legal Reviews Procurement/ Set Schedule Transmit Application Revenue Bond Timeline
  5. 5. Fiscal Year 2013 Revenue Bond Deals Clients Type Amount Issued Closing Date Purpose Wesley Theological Seminary Education $19,615,000 10/1/2012 Ref/Refi/Renovation John F. Kennedy Center Cultural $26,400,000 10/1/2012 Conversion Friendship Public Charter School Education $35,780,000 10/30/2012 Ref/Refi/Renovation Phllips Collection Cultural $12,465,000 11/1/2012 Conversion Howard Road Academy PCS Education $4,400,000 11/30/2012 Conversion National Academy of Sciences Scientific $118,445,000 12/3/2012 Conversion Edmund Burke Education $13,000,000 2/1/2013 Conversion Provident Resources - Howard University Student Housing Education $107,965,000 2/14/2013 New Construction Association of American Medical Colleges Association $42,385,000 2/28/2013 Conversion Field School Education $31,235,000 3/18/2013 Construction/Renovation Lowell School Education $15,000,000 4/1/2013 Construction/ Refinance National Public Radio (NPR) Association $87,430,000 5/2/2013 Refunding Center for Global Development Association $13,360,000 6/3/2013 Acquisition/Renovation Independent Sector Association $11,600,000 6/4/2013 Conversion Two Rivers Public Charter School Education $14,500,000 6/7/2013 Refi/Revovation Washington Int. School Association $33,500,000 7/25/2013 Renovating/Refunding KIPP, DC Education $63,070,000 8/1/2013 Acqui, Renov, Constr, Refi American Public Health Assoc (APHA) Association $7,160,000 8/8/2013 Refunding Total FY 2013 Deals $657,350,000
  6. 6. Fiscal Year 2014(To-date) Revenue Bond Deals Clients Type Amount Issued Closing Date Purpose Friends of Legal Services Association $9,460,000 10/1/2013 Conversion Endocrine Society Association $14,200,000 11/1/2013 Acqui/Renovation (Office Condo) Hogar Hispano Inc. Association $13,820,000 11/1/2013 Modification American Immigration Lawyers Association (AILA) Association $13,780,000 12/2/2013 Conversion National Children's Center Association $ 4,900,000 12/20/2013 Refund/Renovation Mundo Verde Education $11,480,000 1/15/2014 Renovation/Construction Ingleside Rock Creek Association $ 29,254,000 4/24/2014 Refund/Renovation/Constr Jesuit Conference Education $ 8,605,000 6/2/2014 Conversion Trinity College Education $30,300,000 6/2/2014 Refund/Renovation/Constr National Presbyterian School Education $ 5,000,000 6/18/2014 Renovation/Constr The Lab School Education $18,235,000 6/26/2014 Refinancing, Renovation, Constr Capital City Public Charter School Education $19,200,000 7/11/2014 Refund/Renovation Total FY 2014 Deals $178,234,000
  7. 7. 1329 Kenilworth Ave 1329 Kenilworth Ave., NE 2004 Bond Issuance: $2,800,000
  8. 8. NJA Hotel 140 L Street, SE 2005 Bond Issuance: $15,000,000
  9. 9. John F. Kennedy Center for the Performing Arts New Hampshire Ave. and F Streets, NW 2008 Bond Issuance: $30,700,000
  10. 10. Children’s Hospital 111 Michigan Ave., NW 2008 Bond Issuance: $250,000,000
  11. 11. The Brookings Institution 1775 Massachusetts Ave, NW 2008 Bond Issuance: $40,000,000
  12. 12. E.L. Haynes PCS 3600 Georgia Avenue, NW 2008 Bond Issuance: $1,510,000
  13. 13. The River School 4880 MacArthur Boulevard NW 2010 Bond Issuance: $4,000,000
  14. 14. UNCF 1815 7th Street, NW 2011 Bond Issuance: $26,000,000
  15. 15. American Society of Hematology 1900 M Street, NW 2012 Bond Issuance: $33,965,000
  16. 16. 1111 North Capitol Street, N.E., 2013 Bond Issuance: $87,430,000 NPR – National Public Radio
  17. 17. Mundo Verde PCS 44 P Street NW 2014 Bond Issuance: $11,480,000
  18. 18. Association of American Medical Colleges – (before) 655 K St NW,
  19. 19. Association of American Medical Colleges – (after) 655 K St NW, 2011 & 2012 Bond Issuances $154,875,000
  20. 20. Thank you!!  For any questions, comments, or concerns my contact information is listed below: William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program Office of the Deputy Mayor for Planning and Economic Development 1100 4th Street, S.W., Suite E500, Washington, DC 20024 202-724-6199 202-724-9007 (Fax) William.liggins@dc.gov

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