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Committee approves $15 million revenue bonds for Early Childhood Academy Public Charter School
Summary
The committee approved authorization of up to $15,000,000 in District revenue bonds to refinance acquisition, renovation, and improvement of the Early Childhood Academy Public Charter School facility and to replace an expired new markets tax credit with lower-cost long-term debt.
Committee members approved a draft report recommending up to $15,000,000 in District revenue bonds for Early Childhood Academy Public Charter School, Inc. to refinance costs associated with acquisition, renovation, and improvement of the school's facility.
Chair McDuffie said the revenue bonds would also allow the school to unwind an expired new markets tax credit that expired in September 2025 and replace it with lower-cost long-term debt through the district's industrial revenue-bond program. "The measure authorizes the issue and sale and delivery of up to $15,000,000 in District Of Columbia revenue bonds to assist Early Childhood Academy Public Charter School, Inc.," McDuffie said. He moved the draft committee report with leave for legal and staff to make technical changes; members voiced their approval and the measure was approved by the committee.
Staff will finalize legal and technical edits to the committee report before it is posted to the record.
