District of ColumbiaPR26-0250Council Period 26 (2025-2026)HouseWALLET

National Community Reinvestment Coalition, Inc., Revenue Bonds Project Emergency Declaration Resolution of 2025

Sponsored By: Sponsor information unavailable

Adopted

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

DC authorizes $88 million bonds for nonprofit

The District authorizes issuing, selling, and delivering up to $88 million in revenue bonds. The District loans the bond money to the National Community Reinvestment Coalition, a DC nonprofit. The funds can refinance the 2018A and 2018B bonds tied to 740 15th Street NW and pay project costs. Allowed uses include credit enhancement, liquidity, capitalized interest, a debt service reserve, and issuance costs. This emergency action speeds issuance amid market uncertainty and takes effect immediately.

Sponsors & Cosponsors

Cosponsors

Phil Mendelson
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 12 • No: 0

House vote • 7/1/2025

Final Reading

Yes: 12 • No: 0

Actions Timeline

Resolution R26-0165, Effective from Jul 01, 2025 Published in DC Register Vol 72 and Page 007646
7/11/2025House
Approved with Resolution Number R26-0165
7/1/2025House
Legislative Meeting
7/1/2025House
Retained by the Council with comments from the Committee on Business and Economic Development
7/1/2025House
PR26-0250 Introduced by Chairman Mendelson at Office of the Secretary
6/25/2025House

Bill Text

Enrollment
7/1/2025
PDF
Introduced
6/25/2025
PDF

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