Doing Business in DC | DC Business Incentives | DC Revenue Bond Program

1,223 views

Published on

Washington, DC Economic Partnership's Doing Business in DC program on DC Revenue Bond Program featuring Greg Johnson, Project Manager, DC Revenue Bond Program — Enterprise Zone Program

Published in: Education, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,223
On SlideShare
0
From Embeds
0
Number of Embeds
106
Actions
Shares
0
Downloads
7
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Doing Business in DC | DC Business Incentives | DC Revenue Bond Program

  1. 1. DC Revenue Bond & Enterprise Zone ProgramOffice of the Deputy Mayor for Planning and Economic Development1100 4th Street, S.W., Suite E500, Washington, D.C. 20024202.727.6365www.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. Revenue Bond Timeline 3 5 DC Agencies CLOSING Regulatory Reviews Transmit Application 4 1 2 Council Approval Public Hearing CompletedAPPLICANT IRB PROGRAM Notice Application 4 Legal Reviews Transmit TEFRA Hearing Application 3 Bond & OAG Procurement/ Set Schedule 3 Legal and Finance Working Group Sessions 10 Days 20 Days 15 Days 15 Days
  5. 5. Fiscal Year 2011 Revenue Bond Deals Clients Type Amount Issued Closing Date PurposePublic Welfare Foundation (BQ) Modification Association N/A 11/1/2010 Modification Closing Acquis./Renovation,NewSt. Johns College High School (BQ Structure) Education $ 19,000,000.00 11/3/2010 Constr/RefiNAEYC (Int Rate Conversion series 2006) Education N/A 11/23/2010 Modification /Conversion Acquisition/Renovation/ConstruAppletree PCS (QSCB) Education $ 3,535,000.00 11/23/2010 ctionShakespeare Theatre Cultural $ 10,500,000.00 11/30/2010 RefinancingAmerican Bus Association (Recovery Zone Facility Bonds) Association $ 3,995,000.00 12/15/2010 Acquisition and RevnovationHospital for Sick Children ( Modification Conversion) Edcuation N/A 12/17/2010 Modification/ConversionUnited Negro College Fund Association $ 26,000,000.00 12/23/2010 Aqui, Revo, ConstrThe Field School (Modification/Conversion) Education N/A 12/23/2010 Modification/ConversionProtestant Episcopal Cathedral Foundation(Modification/Conversion) Association N/A 12/29/2010 Modification/ConversionSibley Memorial Hospital (Modification Conversion) Healthcare N/A 12/29/2010 Modification/ConversionGeorgetown University 2010 (First Closing) Education $ 45,000,000.00 12/29/2010 Construction/RenovationCesar Chavez PCS Education $ 27,210,000.00 3/2/2011 RefinancingAmerican Association for the Advancement of Science Association N/A 3/24/2011 Modification/ConversionSt Collettas PCS ( Modification Conversion) Edcuation N/A 4/1/2011 Modification/ConversionGeorgetown University 2010 ( balance left of $90mill resolution) Education $ 45,000,000.00 4/7/2011 Construction/RenovationGerman Marshall Fund of the United States Association $ 12,000,000.00 4/21/2011 Renovation Refunding, Renovation,Howard University Education $ 290,315,000.00 4/27/2011 ConstructionGallaudet University Education $ 40,000,000.00 5/25/2011 Renovation/ConstructionCenter For Strategic & International Studies Association $ 44,815,000.00 6/16/2011 Renovation/ConstructionCapitol Hill Day School Education $ 4,500,000.00 7/21/2011 RenovationSociety for Neuroscience Association N/A 8/1/2011 Modification/ConversionAssociation of American Medical Colleges Association $ 45,540,000.00 8/31/2011 Acqusition/Refi/Construction
  6. 6. 1329 Kenilworth Ave 1329 Kenilworth Ave., N.E. 2004 Bond Issuance: $2,800,000
  7. 7. John F. Kennedy Center for the Performing Arts New Hampshire Ave. and F Streets, N.W. 2008 Bond Issuance: $30,700,000
  8. 8. Children’s Hospital 111 Michigan Ave., N.W. 2008 Bond Issuance: $250,000,000
  9. 9. American Society of Hematology 1900 M Street, N.W. 2008 Bond Issuance: $33,965,000
  10. 10. E.L. Haynes PCS 3600 Georgia Avenue, N.W. 2008 Bond Issuance: $1,510,000
  11. 11. Georgetown University 39th & O Streets N.W. 2009 Bond Issuance: $121,000,000
  12. 12. The Brookings Institution 1775 Massachusetts Ave, N.W. 2009 Bond Issuance: $40,000,000
  13. 13. The Shakespeare Theatre 620 F Street, N.W. 2011 Bond Issuance: $10,500,000
  14. 14. Gallaudet University 800 Florida Avenue, N.E. 2011 Bond Issuance: $40,000,000
  15. 15. The End  For additional information, my contact information is listed below: Gregory Johnson, Project Manager 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 202-724-7299 Gregory.johnson2@dc.gov

×