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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

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6 Fiscal Year 2013 Revenue Bond Deals ClientsTypeAmount IssuedClosing DatePurpose Wesley Theological SeminaryEducation$19,615,00010/1/2012Ref/Refi/Renovation John F. Kennedy CenterCultural$26,400,00010/1/2012Conversion Friendship Public Charter SchoolEducation$35,780,00010/30/2012Ref/Refi/Renovation Phllips CollectionCultural$12,465,00011/1/2012Conversion Howard Road Academy PCSEducation$4,400,00011/30/2012Conversion National Academy of SciencesScientific$118,445,00012/3/2012Conversion Edmund BurkeEducation $13,000,0002/1/2013Conversion Provident Resources - Howard University Student HousingEducation$107,965,0002/14/2013New Construction Association of American Medical CollegesAssociation $42,385,0002/28/2013Conversion Field SchoolEducation$31,235,0003/18/2013Construction/Renovation Lowell SchoolEducation$15,000,0004/1/2013Construction/ Refinance National Public Radio (NPR)Association$87,430,0005/2/2013Refunding Center for Global DevelopmentAssociation $13,360,0006/3/2013Acquisition/Renovation Independent SectorAssociation$11,600,0006/4/2013Conversion Two Rivers Public Charter SchoolEducation$14,500,0006/7/2013Refi/Revovation Washington Int. SchoolAssociation$33,500,0007/25/2013Renovating/Refunding KIPP, DCEducation$63,070,0008/1/2013Acqui, Renov, Constr, Refi American Public Health Assoc (APHA)Association$7,160,0008/8/2013Refunding Total FY 2013 Deals $657,350,000

7 Fiscal Year 2014(To-date) Revenue Bond Deals ClientsTypeAmount IssuedClosing DatePurpose Friends of Legal ServicesAssociation$9,460,00010/1/2013Conversion Endocrine SocietyAssociation $14,200,00011/1/2013 Acqui/Renovation (Office Condo) Hogar Hispano Inc.Association $13,820,00011/1/2013Modification American Immigration Lawyers Association (AILA)Association $13,780,00012/2/2013Conversion National Children's CenterAssociation $ 4,900,00012/20/2013Refund/Renovation Mundo VerdeEducation $11,480,0001/15/2014Renovation/Construction Ingleside Rock CreekAssociation $ 29,254,0004/24/2014Refund/Renovation/Constr Jesuit ConferenceEducation $ 8,605,0006/2/2014Conversion Trinity CollegeEducation $30,300,0006/2/2014Refund/Renovation/Constr National Presbyterian SchoolEducation $ 5,000,0006/18/2014Renovation/Constr The Lab SchoolEducation $18,235,0006/26/2014 Refinancing, Renovation, Constr Capital City Public Charter SchoolEducation $19,200,0007/11/2014Refund/Renovation Total FY 2014 Deals $178,234,000

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 Children’s 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 The River School 4880 MacArthur Boulevard NW 2010 Bond Issuance: $4,000,000

15 UNCF th Street, NW 2011 Bond Issuance: $26,000,000

16 American Society of Hematology 1900 M Street, NW 2012 Bond Issuance: $33,965,000

17 1111 North Capitol Street, N.E., 2013 Bond Issuance: $87,430,000 NPR – National Public Radio

18 Mundo Verde PCS 44 P Street NW 2014 Bond Issuance: $11,480,000

19 Association of American Medical Colleges – (before) 655 K St NW,

20 Association of American Medical Colleges – (after) 655 K St NW, 2011 & 2012 Bond Issuances $154,875,000

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


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