Transcript William A. Liggins, Director DC Revenue Bond

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
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.
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.
Revenue Bond Timeline
Transmit Application
3
5
DC Agencies
CLOSING
Regulatory Reviews
4
1
APPLICANT
2
Completed
Application
IRB PROGRAM
Public Hearing
Notice
Council Approval
4
Legal Reviews
Transmit
Application
TEFRA Hearing
3
Bond & OAG
Procurement/
Set Schedule
3
Legal and Finance Working Group Sessions
10 Days
20 Days
15 Days
15 Days
Fiscal Year 2012 Revenue Bond Deals
Clients
Association of American
Medical Colleges
Type
Amount Issued
Closing Date Purpose
Acquisition/Refi/
Construction
Association
$109,335,000
11/2/2011
Education
$10,642,000
11/18/2011
Cultural
$7,000,000
12/7/2011
EL Haynes PCS
Education
$13,350,000
2/22/2012
Washington Yu Ying PCS
Education
$10,275,000
2/23/2012
Kingsbury Center
Education
$11,000,000
4/2/2012
Refunding/Refinance
Modification/
Conversion
Construction/
Renovation
Acquisition and
Renovation
Refunding and
Renovation
Georgetown Day School
American Society of
Hematology
Education
$30,200,000
4/4/2012
Conversion
Association
$33,155,000
5/2/2012
Conversion
Options PCS
Hillel
DC Consortium Bond
American Education
Research Association
Education
$15,150,000
6/1/2012
Conversion
Association
$6,900,000
8/17/2012
Refunding
Gonzaga High School
Education
$12,000,000
8/31/2012
Conversion
$62,680,000
9/4/2012
Conversion
Council on Foreign Relations Association
Total FY 2012 Deals
$321,687,000
Fiscal Year 2013(To-date) Revenue Bond Deals
Clients
Wesley Theological Seminary
Type
Amount Issued
Closing Date Purpose
Education
$19,615,000
10/1/2012
Ref/Refi/Renovation
Cultural
$26,400,000
10/1/2012
Conversion
Education
$35,780,000
10/30/2012
Ref/Refi/Renovation
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
Provident Resources - Howard
University Student Housing
Association of American Medical
Colleges
Education
$13,000,000
2/1/2013
Conversion
Education
$107,965,000
2/14/2013
New Construction
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
Two Rivers Public Charter
School
Association
$11,600,000
6/4/2013
Conversion
Education
$14,500,000
6/7/2013
Refi/Revovation
John F. Kennedy Center
Friendship Public Charter School
Phllips Collection
Total FY 2013 Deals
$553,620,000
1329 Kenilworth Ave
1329 Kenilworth Ave., NE
2004 Bond Issuance: $2,800,000
NJA Hotel
140 L Street, SE
2005 Bond Issuance:
$15,000,000
John F. Kennedy Center for the Performing Arts
New Hampshire Ave. and F Streets, NW
2008 Bond Issuance: $30,700,000
Children’s Hospital
111 Michigan Ave., NW
2008 Bond Issuance:
$250,000,000
The Brookings Institution
1775 Massachusetts Ave, NW
2008 Bond Issuance: $40,000,000
E.L. Haynes PCS
3600 Georgia Avenue, NW
2008 Bond Issuance: $1,510,000
National Academy of Sciences
500 Fifth St., NW
2008 Bond Issuance: $57,500,000
American Society of Hematology
1900 M Street, NW
2008 Bond Issuance:
$33,965,000
Sibley Memorial Hospital
5255 Loughboro Road, NW
2009 Bond Issuance: $63,000,000
Carlos Rosario Public Charter School
(Community Capital Corporation)
1100 Harvard Street, NW
$9,300,000
Georgetown University
39th & O Streets NW
2009 Bond Issuance: $121,000,000
The End
 For any questions, comments, or concerns 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 202-724-9007 (Fax)
[email protected]