PR 26-0252 Legislature · 26th Council Period (2025-2026)

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

This bill authorizes the District of Columbia to issue up to $37.5 million in tax-exempt revenue bonds for the US Black Chambers Economic Development Corporation (USBC). The funds will finance acquiring and renovating specific properties in Ward 5, including the former BET headquarters at 1900 W Place, N.E., and adjacent parcels at 1301 W Street, N.E., 1235 W Street, N.E., and a parking lot. The bonds are structured as non-recourse to the District, meaning the District bears no financial liability or obligation for repayment, and the funds will directly support USBC's headquarters facility project. The resolution designates this as an emergency to expedite bond issuance and avoid delays in securing favorable market interest rates.

Issues: ✓ Budget & Taxes

Sub-Topics: Debt & Bonds

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 26, 2025 Signed Jul 1, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduction → Enrollment · 4 edits

MODERATE

The bill was transitioned from a proposed resolution to an enrolled (final) version, indicating it has been formally adopted by the Council. The core policy content remains substantially unchanged, with only minor formatting corrections and standard enrollment markings added. This represents a procedural advancement rather than a substantive policy modification.

TECHNICAL

The document was converted from a proposed resolution to an enrolled resolution, adding official enrollment markings and changing the header from 'A PROPOSED RESOLUTION' to 'A RESOLUTION' with enrollment date of July 1, 2025.

Minor formatting corrections were made throughout the text, including fixing spacing issues, correcting 'Councilofthe' to 'Council of the', and standardizing capitalization and punctuation in various sections.

The original cover letter from Mayor Muriel Bowser dated June 26, 2025, was removed as it was part of the introduction package rather than the final enrolled legislation.

The resolution citation was slightly adjusted from 'USBC Revenue Bonds Project Emergency Approval Resolution' to 'USBC Economic Development Corporation Revenue Bonds Project Emergency Declaration Resolution' for consistency with the enrolled version.

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 26, 2025

Introduced

PR26-0252 Introduced by Chairman Mendelson at Office of the Secretary

legislature

1 primary · 0 co-sponsors