District of ColumbiaPR26-0252Council Period 26 (2025-2026)HouseWALLET

USBC Economic Development Corporation Revenue Bonds Project Emergency Declaration Resolution of 2025

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Adopted

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Bill Overview

Analyzed Economic Effects

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

DC bonds for a nonprofit headquarters

The law authorizes the District to issue up to $37.5 million in revenue bonds. The District loans the money to USBC Economic Development Corporation for its headquarters project. Funds can buy 1301 W Street NE and leaseholds at 1900 W Place NE, 1235 W Street NE, and a 1.73-acre parking lot (Square 142), and pay for partial renovations. Money can also cover equipment, furnishings, credit enhancement and liquidity costs, capitalized interest, a debt service reserve, and bond issuance costs. The resolution 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 R26-0161, Effective from Jul 01, 2025 Published in DC Register Vol 72 and Page 007722
7/11/2025House
Notice of Intent to Act on PR26-0252 Published in the District of Columbia Register
7/4/2025House
Approved with Resolution Number R26-0161
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
PR26-0252 Introduced by Chairman Mendelson at Office of the Secretary
6/26/2025House

Bill Text

Enrollment
7/1/2025
PDF
Introduced
6/26/2025
PDF

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