william a. liggins, director dc revenue bond & enterprise zone program
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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, S.W., Suite E500, Washington, D.C. 20024 202-724-6199 202-724-9007 (Fax) www.dcbiz.dc.gov. - PowerPoint PPT PresentationTRANSCRIPT
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William A. Liggins, DirectorDC Revenue Bond & Enterprise Zone ProgramOffice of the Deputy Mayor for Planning and Economic Development1100 4th Street, S.W., Suite E500, Washington, D.C. 20024202-724-6199 202-724-9007 (Fax)www.dcbiz.dc.gov
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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.
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Bond IssuanceProgram 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.
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Revenue Bond Timeline
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1APPLICANT
Completed Application
2IRB PROGRAM
3DC Agencies
3Bond & OAG
5CLOSING
4Council Approval
4TEFRA Hearing
3Legal 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
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Fiscal Year 2012 Revenue Bond Deals
ClientsTypeAmount IssuedClosing DatePurpose
Association of American Medical CollegesAssociation$109,335,000 11/2/2011Acquisition/Refi/Construction Options PCSEducation$10,642,000 11/18/2011Refunding/RefinanceHillelCultural$7,000,00012/7/2011Modification/ConversionEL Haynes PCSEducation$13,350,0002/22/2012Construction/Renovation Washington Yu Ying PCSEducation $10,275,0002/23/2012Acquisition and RenovationKingsbury CenterEducation $11,000,0004/2/2012Refunding and Renovation Georgetown Day SchoolEducation $30,200,0004/4/2012Conversion American Society of HematologyAssociation $33,155,0005/2/2012Conversion DC Consortium Bond Education $15,150,0006/1/2012Conversion American Education Research AssociationAssociation$6,900,0008/17/2012RefundingGonzaga High School Education $12,000,0008/31/2012ConversionCouncil on Foreign RelationsAssociation $62,680,0009/4/2012ConversionTotal FY 2012 Deals$321,687,000
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Fiscal Year 2013(To-date) Revenue Bond Deals
ClientsTypeAmount IssuedClosing DatePurpose
Wesley Theological SeminaryEducation$19,615,000 10/1/2012Ref/Refi/Renovation John F. Kennedy CenterCultural$26,400,00010/1/2012ConversionFriendship Public Charter SchoolEducation$35,780,00010/30/2012Ref/Refi/Renovation Phllips Collection Cultural$12,465,00011/1/2012ConversionHoward Road Academy PCSEducation$4,400,00011/30/2012ConversionNational Academy of Sciences Scientific$118,445,00012/3/2012ConversionEdmund BurkeEducation $13,000,0002/1/2013ConversionProvident Resources - Howard University Student HousingEducation$107,965,0002/14/2013New Construction Association of American Medical CollegesAssociation $42,385,0002/28/2013ConversionField SchoolEducation $31,235,0003/18/2013Construction/RenovationLowell SchoolEducation$15,000,0004/1/2013Construction/ RefinanceNational Public Radio (NPR)Association$87,430,0005/2/2013RefundingCenter for Global Development Association $13,360,0006/3/2013Acquisition/RenovationIndependent SectorAssociation$11,600,0006/4/2013ConversionTwo Rivers Public Charter SchoolEducation$14,500,000 6/7/2013Refi/RevovationTotal FY 2013 Deals $553,620,000
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1329 Kenilworth Ave., NE2004 Bond Issuance: $2,800,000
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140 L Street, SE 2005 Bond Issuance: $15,000,000
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John F. Kennedy Center for the Performing ArtsNew Hampshire Ave. and F Streets, NW
2008 Bond Issuance: $30,700,000
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Childrens Hospital111 Michigan Ave., NW 2008 Bond Issuance: $250,000,000
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The Brookings Institution1775 Massachusetts Ave, NW
2008 Bond Issuance: $40,000,000
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3600 Georgia Avenue, NW2008 Bond Issuance: $1,510,000
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500 Fifth St., NW2008 Bond Issuance: $57,500,000
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1900 M Street, NW2008 Bond Issuance: $33,965,000
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5255 Loughboro Road, NW2009 Bond Issuance: $63,000,000
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(Community Capital Corporation) 1100 Harvard Street, NW $9,300,000Carlos Rosario Public Charter School
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39th & O Streets NW2009 Bond Issuance: $121,000,000
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The EndFor any questions, comments, or concerns my contact information is listed below:
Gregory Johnson, Project ManagerDC Revenue Bond & Enterprise Zone ProgramOffice of the Deputy Mayor for Planning and Economic Development1100 4th Street, S.W., Suite E500, Washington, DC 20024202-724-7299 202-724-9007 (Fax)[email protected]
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