PR 26-0251 Legislature · 26th Council Period (2025-2026)

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

This resolution authorizes the District of Columbia to issue up to $88 million in tax-exempt revenue bonds to refinance existing debt for National Community Reinvestment Coalition, Inc. (a nonprofit 501(c)(3) organization) related to its 740 15th Street, N.W. office building in Ward 2. The bonds will be used solely to repay previous financing for the 11-story, 22-unit building (175,508 sq. ft.), with no financial liability for the District. The resolution explicitly states the bonds are "without recourse to the District," meaning the District won’t be responsible for repayment or use its taxing power. This is a refinancing measure for an existing nonprofit property project, not new construction or general public funding.

Bill status signed all 4 stages cleared

Introduction

Jun 2025

Committee Review

Jul 2025

Council Passage

Jul 2025

Signed into Law

Jul 2025

Introduced Jun 25, 2025 Signed Jul 1, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduction → Enrollment · 3 edits

MINOR

The document was converted from a Mayor's letter transmitting a proposed resolution to the Council into the official enrolled resolution text itself. The substantive policy content of the resolution remains largely unchanged, though some formatting and line numbering were removed during the conversion process. The resolution authorizes the District to issue up to $88 million in revenue bonds to help National Community Reinvestment Coalition, Inc. refinance debt related to an office building project at 740 15th Street, NW.

TECHNICAL

The document format changed from a cover letter and proposed draft to the official enrolled resolution text, including the addition of 'ENROLLED ORIGINAL' headers and section numbering.

The Mayor's cover letter, including the transmission date (June 25, 2025), recipient information, and the request for Council action, was removed as it is no longer needed in the final enrolled version.

Line numbers and page markers that were present in the draft version were removed from the enrolled text.

Floor votes · Council Jul 1, 2025

How they voted

12–0

Passed

Total votes 12

Jul 1, 2025

D Democratic10

10 Yea

100% Yea

I Independent2

2 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Jul 1, 2025

Council · Passed

Council Vote: pass (12-0)

council

Jul 1, 2025

Committee

Retained by the Council with comments from the Committee on Business and Economic Development

legislature

Jun 25, 2025

Introduced

PR26-0251 Introduced by Chairman Mendelson at Office of the Secretary

legislature

1 primary · 0 co-sponsors