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William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program Office of the Deputy Mayor for Planning and Economic Development 1100 4 th Street,

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Presentation on theme: "William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program Office of the Deputy Mayor for Planning and Economic Development 1100 4 th Street,"— Presentation transcript:

1 William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program Office of the Deputy Mayor for Planning and Economic Development th Street, S.W., Suite E500, Washington, D.C (Fax)

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 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 Revenue Bond Timeline

5

6 Fiscal Year 2012 Revenue Bond Deals ClientsTypeAmount IssuedClosing DatePurpose Association of American Medical CollegesAssociation$109,335,00011/2/2011 Acquisition/Refi/ Construction Options PCSEducation$10,642,00011/18/2011Refunding/Refinance HillelCultural$7,000,00012/7/2011 Modification/ Conversion EL Haynes PCSEducation$13,350,0002/22/2012 Construction/ Renovation Washington Yu Ying PCSEducation $10,275,0002/23/2012 Acquisition and Renovation Kingsbury CenterEducation$11,000,0004/2/2012 Refunding and Renovation Georgetown Day SchoolEducation $30,200,0004/4/2012Conversion American Society of HematologyAssociation $33,155,0005/2/2012Conversion DC Consortium BondEducation$15,150,0006/1/2012Conversion American Education Research AssociationAssociation$6,900,0008/17/2012Refunding Gonzaga High SchoolEducation$12,000,0008/31/2012Conversion Council on Foreign RelationsAssociation $62,680,0009/4/2012Conversion Total FY 2012 Deals$321,687,000

7 Fiscal Year 2013(To-date) Revenue Bond Deals ClientsTypeAmount IssuedClosing DatePurpose Wesley Theological Seminary Education$19,615,00010/1/2012Ref/Refi/Renovation John F. Kennedy Center Cultural$26,400,00010/1/2012Conversion Friendship Public Charter School Education$35,780,00010/30/2012Ref/Refi/Renovation Phllips Collection Cultural$12,465,00011/1/2012Conversion Howard Road Academy PCS Education$4,400,00011/30/2012Conversion National Academy of Sciences Scientific$118,445,00012/3/2012Conversion Edmund Burke Education $13,000,0002/1/2013Conversion Provident Resources - Howard University Student Housing Education$107,965,0002/14/2013New Construction Association of American Medical Colleges Association $42,385,0002/28/2013Conversion Field School Education$31,235,0003/18/2013Construction/Renovation Lowell School Education$15,000,0004/1/2013Construction/ Refinance National Public Radio (NPR) Association$87,430,0005/2/2013Refunding Center for Global Development Association $13,360,0006/3/2013Acquisition/Renovation Independent Sector Association$11,600,0006/4/2013Conversion Two Rivers Public Charter School Education$14,500,0006/7/2013Refi/Revovation Total FY 2013 Deals $553,620,000

8 1329 Kenilworth Ave 1329 Kenilworth Ave., NE 2004 Bond Issuance: $2,800,000

9 NJA Hotel 140 L Street, SE 2005 Bond Issuance: $15,000,000

10 John F. Kennedy Center for the Performing Arts New Hampshire Ave. and F Streets, NW 2008 Bond Issuance: $30,700,000

11 Childrens Hospital 111 Michigan Ave., NW 2008 Bond Issuance: $250,000,000

12 The Brookings Institution 1775 Massachusetts Ave, NW 2008 Bond Issuance: $40,000,000

13 E.L. Haynes PCS 3600 Georgia Avenue, NW 2008 Bond Issuance: $1,510,000

14 National Academy of Sciences 500 Fifth St., NW 2008 Bond Issuance: $57,500,000

15 American Society of Hematology 1900 M Street, NW 2008 Bond Issuance: $33,965,000

16 Sibley Memorial Hospital 5255 Loughboro Road, NW 2009 Bond Issuance: $63,000,000

17 (Community Capital Corporation) 1100 Harvard Street, NW $9,300,000 Carlos Rosario Public Charter School

18 Georgetown University 39 th & O Streets NW 2009 Bond Issuance: $121,000,000

19 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 th Street, S.W., Suite E500, Washington, DC (Fax)


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