Since January, 2003

Ad by HillAds
 (a random before-and-after moment)
April 23, 2004
May 26, 2013
2nd (West) at K, Looking South (see more)

The city council's Committee on Finance and Revenue held a hearing last Thursday (Nov. 12) on B18-475, the "Arthur Capper/Carrollsburg Public Revenue Bonds Amendment Act of 2009," which has been introduced to allow the CFO's office to issue $32 million in city-backed bonds to help fund "phase 3" infrastructure improvements at Capper/Carrollsburg. This would be in addition to the $9.5 million in stimulus money that DCHA was awarded by HUD that will allow the phase 2 townhouses at Capitol Quarter to go forward, possibly by the third quarter of 2010 if current financing negotiations with EYA go smoothly.
(Quick background: This infrastructure work would be a combination of underground work on the Second Street blocks around Canal Park, the relocation of the DPW operations at New Jersey and K and demolition of that block, and perhaps the construction of I Street between Second and New Jersey. These projects were originally expected to be funded by the sale of unrated municipal bonds, but the current Economic Difficulties have made those sorts of bonds all but extinct, and additional attempts to secure loans from banks for the money have been fruitless as well. Read this for more details.)
The hearing was pretty straightforward--you can watch it via streaming video, plus I've managed to procure the prepared written testimony of David Cortiella from DCHA if you're more of a reader than a watcher (like me!). The main takeaways:
* The city is intending to sell $32 million in short-term bonds, and will cover the estimated $600,000 a year in costs from funds in an industrial revenue bonds assessment fund held by the Office of the Deputy Mayor for Planning and Economic Development. After three years, when presumably the bond market is a bit healthier and Capper's own PILOT fund has begun to receive payments, long-term bonds will be issued. John Ross of the CFO's office called this "a very clever arrangement."
* Because the council originally approved a $55 million bond offering as part of the original Capper PILOT legislation, the cost of these bonds is already reflected in the city's budget.
* DCHA and the CFO are asking that this bill be approved on an emergency basis at the council's December meeting, so that the bonds could be sold during late December or early January, which is apparently a good bond-selling time of year. (Christmas bonds for everyone!)
* Cortiella mentioned that DCHA is also investigating a change in the tax code that may allow the financing of the 189-unit apartment building planned for the old Capper Seniors site at Seventh and L (Square 882) by the third quarter of 2010.
* Money has already begun to flow into the Capper PILOT thanks to the completed houses in Capitol Quarter, and if the phase 1 and 2 townhouses and Square 882 apartments are finished as currently scheduled, approximately $1.2 million will be flowing to the PILOT fund each year by 2012. (It's the PILOT fund that then pays back the bonds.)
Jack Evans--the only councilmember at the hearing--was receptive to the plans and also to moving the bill as emergency legislation, calling it "a good project" and saying it should "definitely move forward." He also made sure to note that, since the new bonds are being backed with proceeds from the Gallery Place TIF, that the city will be "backing Ward 6 projects with Ward 2 money": "We're always helpful when we can be helpful," he said. He also reminisced that, when he first ran for city council in 1991, Near Southeast was in Ward 2, and that he received all of six votes across the entire precinct in the 13-man primary.
The council's December legislative meeting is scheduled for Dec. 15.
Comments (0)
 
 More About Capper
 All posts: Capper

JDLand.com Home

Comments

No comments posted.

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed

See All Current News Items | Full Blog Archive

 
 Top News
  
Recent Comments:  
DAK4Blizzard on Visual Confirmation of: It took until the middle of the next decade, but the digging has begun! Hopefull...
ZoolanderANDtheBoYz on Status Updates for: Are you hiring non paid interns? If so, I am glad to volunteer...JK
JD on Status Updates for: And thank you! (and now I'm resting for the rest of the week, unless there's ...
G Street on Visual Confirmation of: Hard hats + cranes = A new and improved JDLand



City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
1200 B/O 1ST ST SE   THEFT
 11/21/14
900 B/O 5TH ST SE   BURGLARY
First Degree Burglary (Armed Or Otherwise)
 11/21/14
200 B/O I ST SE   THEFT
Theft F/Building
 11/21/14
1200 B/O NEW JERSEY AVE SE   THEFT
Theft Ii
 11/20/14
900 B/O NEW JERSEY AVE SE   THEFT F/AUTO
 11/17/14
700 B/O L ST SE   THEFT
2nd Degree - Convenience Store
 11/16/14
100 B/O H ST SE   ROBBERY
Force & Violence
 11/09/14
900 B/O M ST SE   THEFT F/AUTO
 11/09/14
1100 B/O 9TH ST SE   THEFT F/AUTO
 11/07/14
1000 B/O M ST SE   THEFT F/AUTO
Motor Vehicle Parts & Accessories - Highway/ Road/ Alley/ Street
 11/07/14
100 B/O K ST SE   THEFT F/AUTO
 11/07/14
1000 B/O 4TH ST SE   THEFT F/AUTO
 11/07/14
50 B/O M ST SE   THEFT
2nd Degree - DC Government Building
 11/05/14
400 B/O K ST SE   THEFT F/AUTO
 11/03/14
1100 B/O NEW JERSEY AVE SE   THEFT F/AUTO
 10/29/14
L & 3RD ST SE   THEFT F/AUTO
 10/28/14
900 B/O M ST SE   THEFT F/AUTO
 10/25/14
700 B/O M ST SE   THEFT
2nd Degree - Classroom
 10/24/14

Active Public Space Permits Archive  
1331 2ND ST SE    Carlton Ray 
Assigned
paving; streetfixture; excavation  
 02/10/14
to
02/09/15
1331 4TH ST SE    Forest City Forest City 
Issued
excavation; new  
 01/10/14
to
02/10/15
301 TINGEY ST SE    Potbelly Sandwich Works LLC 
Issued
new  
 03/21/12
to
11/27/14

Recent Issued Building Permits Archive  
1331 2ND ST SE   
11/13/14 
DC WATER
SB1400419 / CONSTRUCTION
TYPE OF WELL(S):OBSERVATION WELLS INCLINOMETERS VW PIEZOMETERS AND EXTENSOMETERS FOR UPGRADE OF DC WATER CLEAN RIVERS PROJECT DIVISION I. NUMBER OF WELL(S):112. DEPTH OF WELL(S):UP TO 60 FT. DIAMETER OF WELL(S): 6". DRILLING METHOD: CASED AND HSA. PLEASE SEE THE ATTACHED WORKPLAN.
1331 4TH ST SE   
11/04/14 
CLARK CONCRETE CONSTRUCTION
AH1500069 / CONSTRUCTION
AFTERHOURS TO POUR CONCRETE FROM SUNDAY TO SATURDAY FROM 11 / 1 / 2014 TO 1 / 31 / 2015FROM 7PM TO 7AM
1015 HALF ST SE   
11/03/14 
HALF ST SE LLC / JOHN GIUSEPPE-RAMCO
B1501165 / CONSTRUCTION
LANDLORD UPGRADE TO 1ST FLOOR VACANT TENANT SPACE INSTALL NEW DEMISING WALL AS SHOWN ON THE ATTACHED ARCH. AND ELECTRICAL DWGS. NO MECH. PLUMB. STRUCTURAL WORK INVOLVED. INTERIOR WORK ONLY. NO CHANGE IN USE.
332 K ST SE   
11/04/14 
KRISTIN L HENRIKSON / ASTRUM SOLAR
B1412602 / CONSTRUCTION
INSTALL SOLAR PANELS ON ROOF 3.25 KW SYSTEM 13 PANELS
   
11/10/14 
KRISTIN L HENRIKSON / JOHN A. TETI
E1501053 / SUPPLEMENTAL
80 M ST SE   
11/12/14 
WELLS REIT II 80 M STREET LLC / RONNIE E WRIGHT
E1501089 / SUPPLEMENTAL
901 M ST SE   
11/13/14 
CARLTON RAY
AH1500084 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
1201 M ST SE   
11/13/14 
CARLTON RAY
AH1500085 / CONSTRUCTION
TO PERFORM TEMPORARY LANE CLOSURES
801 NEW JERSEY AVE SE   
11/12/14 
GREYSTAR / JOHN MORIARTY AND ASSOC.
F1500068 / CONSTRUCTION
INSTALL A TEMPORARY CONSTRUCTION SITE FENCE ON PRIVATE PROPERTY. FENCE TO BE 6' HIGH ON BLOCK SUPPORTS.
880 NEW JERSEY AVE SE   
11/19/14 
880 NEW JERSEY AVENUE LLC / OTIS ELEVATOR COMPANY
EN1500172 / SHOP DRAWING
TYPE OF ELEVATOR : ONE (1) TRACTION / CENTRAL / VERTICAL TRANSPOTATION
   
11/20/14 
BAKER DC / CHRISTINE LONG
AH1500122 / CONSTRUCTION
AN AFTER HOURS PERMIT IS RESPECTFULLY REQUESTED FROM 12:01 AM THRU11:59 PM
1100 NEW JERSEY AVE SE   
11/10/14 
SQUARE 742 LLC / ELMUBARK E. ELNAHAS
E1501060 / SUPPLEMENTAL
125 O ST SE   
11/14/14 
DISTRICT OF COLUMBIA FOREST CITY WASHINGTON / JOPATRIC AMERICODE
SB1400418 / CONSTRUCTION
EIGHT SOIL BORINGS ON PRIVATE PROPERTY. FOREST CITY F1 BLOCK CINEMA BORINGS SHALL BE 10 INCH DIAMETER MUD ROTARY METHOD; 2 SHALL BE DRILLED TO A DEPTH OF 100 FEET AND 6 TO A DEPTH OF 60 FEET; IF THE CONFINING UNIT IS ENCOUNTERED DURING DRILLING THEN ADVANCEMENT OF THE AUGERS SHOULD BE HALTED AND THE PERMANENT OUTER CASING SHOULD BE SET INTO 10 FEET (IF THE CONFINING UNIT IS THINNER THAN 10FT OUTER...
25 POTOMAC AVE SE   
11/10/14 
BARR CONCRETE
TC1500004 / CONSTRUCTION
TOWERCRANE FOR JOBSITE USE
921 POTOMAC AVE SE   
11/20/14 
PAUL A GHIOTTO / MURRAY LYONS
P1501384 / SUPPLEMENTAL
300 TINGEY ST SE   
11/04/14 
FC BOILERMAKER LIC FC BOILERMAKER LIC / DENNIS STUBBS; FC BOILERMAKER FC BOILERMAKER LIC; DENNIS STUBBS
P24303627 / SUPPLEMENTAL
   
11/04/14 
CHRIS WING / SHANDI COBB; CHRIS WING; CHARLES CLYNES
AR65033933 / SUPPLEMENTAL
   
11/05/14 
FC BOILERMAKER LLC / DIXON
B1501249 / CONSTRUCTION
PLACE A REMOVABLE WOOD BURNING GRILL ON THE PATIO OF A SUMMER GARDEN
   
11/12/14 
FC BOILERMAKER LLC / FRED LATIMORE
E1501087 / SUPPLEMENTAL
401 TINGEY ST SE   
11/20/14 
FOREST CITY / FVI 2020
SB1500055 / CONSTRUCTION
EXTENSION TO WORK IN REFERENCE WITH PERMIT SB1200282. SECOND EXTENSION FROM 10.25.14 TO 4.25.15
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

Real Property Sales Archive  
CUSHING PL   09/11/14
$ 9,000,000
HALF STREET RESIDENTIAL PJV LLC
 
HALF ST   09/11/14
$ 12,500,000
HALF STREET RESIDENTIAL PJV LLC
 
N ST   09/11/14
$ 12,500,000
HALF STREET RESIDENTIAL PJV LLC
 
CUSHING PL   09/11/14
$ 9,000,000
HALF STREET RESIDENTIAL PJV LLC
 
N ST   09/11/14
$ 12,500,000
HALF STREET RESIDENTIAL PJV LLC
 
N ST   09/11/14
$ 12,500,000
HALF STREET RESIDENTIAL PJV LLC
 
HALF ST   09/11/14
$ 12,500,000
MR BP RESIDENTIAL #1A LLC
 
N ST   09/11/14
$ 12,500,000
MR BP RESIDENTIAL #1A LLC
 


Project Directory




Blog/Home
Project Directory
Photo Archive
Event Photos
 
Nats Park
Food Map
What's New
History

 
Demolished Buildings
Historic Photos
Satellite Images
Timeline
 
About JDLand
Message JD
Advertise
Photo Use
 
     © Copyright 2014 JD.