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William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program

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Presentation on theme: "William A. Liggins, Director DC Revenue Bond & Enterprise Zone Program"— Presentation transcript:

1 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 (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 2013 Revenue Bond Deals
Clients Type Amount Issued Closing Date Purpose Wesley Theological Seminary Education $19,615,000 10/1/2012 Ref/Refi/Renovation John F. Kennedy Center Cultural $26,400,000 Conversion Friendship Public Charter School $35,780,000 10/30/2012 Phllips Collection $12,465,000 11/1/2012 Howard Road Academy PCS $4,400,000 11/30/2012 National Academy of Sciences Scientific $118,445,000 12/3/2012 Edmund Burke $13,000,000 2/1/2013 Provident Resources - Howard University Student Housing $107,965,000 2/14/2013 New Construction Association of American Medical Colleges Association $42,385,000 2/28/2013 Field School $31,235,000 3/18/2013 Construction/Renovation Lowell School $15,000,000 4/1/2013 Construction/ Refinance National Public Radio (NPR) $87,430,000 5/2/2013 Refunding Center for Global Development $13,360,000 6/3/2013 Acquisition/Renovation Independent Sector $11,600,000 6/4/2013 Two Rivers Public Charter School $14,500,000 6/7/2013 Refi/Revovation Washington Int. School $33,500,000 7/25/2013 Renovating/Refunding KIPP, DC $63,070,000 8/1/2013 Acqui, Renov, Constr, Refi American Public Health Assoc (APHA) $7,160,000 8/8/2013 Total FY 2013 Deals $657,350,000

7 Fiscal Year 2014(To-date) Revenue Bond Deals
Clients Type Amount Issued Closing Date Purpose Friends of Legal Services Association $9,460,000 10/1/2013 Conversion Endocrine Society $14,200,000 11/1/2013 Acqui/Renovation (Office Condo) Hogar Hispano Inc. $13,820,000 Modification American Immigration Lawyers Association (AILA) $13,780,000 12/2/2013 National Children's Center $ 4,900,000 12/20/2013 Refund/Renovation Mundo Verde Education $11,480,000 1/15/2014 Renovation/Construction Ingleside Rock Creek $ 29,254,000 4/24/2014 Refund/Renovation/Constr Jesuit Conference $ 8,605,000 6/2/2014 Trinity College $30,300,000 National Presbyterian School $ 5,000,000 6/18/2014 Renovation/Constr The Lab School $18,235,000 6/26/2014 Refinancing, Renovation, Constr Capital City Public Charter School $19,200,000 7/11/2014 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 4880 MacArthur Boulevard NW
The River School 4880 MacArthur Boulevard NW 2010 Bond Issuance: $4,000,000

15 UNCF 1815 7th Street, NW 2011 Bond Issuance: $26,000,000

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

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

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

21

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 1100 4th Street, S.W., Suite E500, Washington, DC 20024 (Fax)


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