The Deputy Mayor's Office for Planning & Economic Development's Industrial Revenue Bond program gave an overview of IRB process and benefits available to DC businesses at the Washington, DC Economic Partnership’s Doing Business 2.0 seminar (6/12/13).

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. 20024
202-724-6199 202-724-9007 (Fax)
www.dcbiz.dc.gov

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. 1
APPLICANT
Completed
Application
2
IRB PROGRAM
3
DC Agencies
3
Bond & OAG
5
CLOSING
4
Council Approval
4
TEFRA Hearing
3
Legal 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
Revenue Bond Timeline

6. Fiscal Year 2012 Revenue Bond Deals
Clients Type Amount Issued Closing Date Purpose
Association of American
Medical Colleges Association $109,335,000 11/2/2011
Acquisition/Refi/
Construction
Options PCS Education $10,642,000 11/18/2011 Refunding/Refinance
Hillel Cultural $7,000,000 12/7/2011
Modification/
Conversion
EL Haynes PCS Education $13,350,000 2/22/2012
Construction/
Renovation
Washington Yu Ying PCS Education $10,275,000 2/23/2012
Acquisition and
Renovation
Kingsbury Center Education $11,000,000 4/2/2012
Refunding and
Renovation
Georgetown Day School Education $30,200,000 4/4/2012 Conversion
American Society of
Hematology Association $33,155,000 5/2/2012 Conversion
DC Consortium Bond Education $15,150,000 6/1/2012 Conversion
American Education
Research Association Association $6,900,000 8/17/2012 Refunding
Gonzaga High School Education $12,000,000 8/31/2012 Conversion
Council on Foreign Relations Association $62,680,000 9/4/2012 Conversion
Total FY 2012 Deals $321,687,000

7. Fiscal Year 2013(To-date) 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 10/1/2012 Conversion
Friendship Public Charter School Education $35,780,000 10/30/2012 Ref/Refi/Renovation
Phllips Collection 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 Education $13,000,000 2/1/2013 Conversion
Provident Resources - Howard
University Student Housing Education $107,965,000 2/14/2013 New Construction
Association of American Medical
Colleges 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 Association $11,600,000 6/4/2013 Conversion
Two Rivers Public Charter
School Education $14,500,000 6/7/2013 Refi/Revovation
Total FY 2013 Deals $553,620,000

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

9. 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

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. 3600 Georgia Avenue, NW
2008 Bond Issuance: $1,510,000

14. 500 Fifth St., NW
2008 Bond Issuance: $57,500,000

15. 1900 M Street, NW
2008 Bond Issuance:
$33,965,000

16. 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. 39th
& 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
1100 4th
Street, S.W., Suite E500, Washington, DC 20024
202-724-7299 202-724-9007 (Fax)
gregory.johnson2@dc.gov