DMPED: September 18, 2002

(Washington, DC) Eric Price, Deputy Mayor for Planning and Economic Development, today announced that the DC Revenue Bond Program will hold a forum on September 25 to provide school administrators, facilities managers, and finance officials with a better understanding of the principles, mechanics and financial benefits of tax-exempt bond financing. The seminar is the second in a series of training programs and is cosponsored by the DC Marketing Center, the Charter School Development Corporation, Bank of America, Columbia Equity Financial Corporation and the law firms Holland & Knight, Graves & Horton and Reed Smith. It will be held on Wednesday, September 25 from 2 pm to 4:30 pm at the Kingsbury Center, 5000 14th Street, NW.

"One of this administration's highest priorities is to improve the quality and delivery of educational services to children throughout the District," said Deputy Mayor Price. "Since 1998, this program has enabled approximately 20 elementary and secondary educational institutions to obtain more than $150 million to acquire, renovate, expand, and equip their facilities."

Officials from the non-profit Kingsbury Center and IDEA Public Charter School will discuss their recent experiences in obtaining bond financing. DC Public School officials who last fall received $4.5 million to finance the purchase of computers and related equipment also are expected to participate. An expert panel of bond attorneys, financial analysts, bankers, and revenue bond program staff will review the bond process and discuss innovative approaches to project financing, such as PILOT projects and the use of credit enhancement funds.

"An increasing number of schools have been able to take advantage of the bond program, but the need is still great," said Michael Hodge, Director of DC Revenue Bond-Enterprise Zone Program, who leads the District's $5 billion bond program. "We must redouble our efforts to help schools provide the physical environment, equipment and other resources necessary for the education and healthy personal development of our children."

For more information or to RSVP for the seminar, individuals should contact Arlene Duckett at Reed Smith at (202) 414-9364.