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Committee backs up to $550 million in revenue bonds for Children's Hospital projects
Summary
The committee approved a draft report supporting up to $550 million in tax-exempt District revenue bonds for Children's Hospital to refinance prior issuances and fund renovations at the Sheikh Saeed campus, ER upgrades, a maternal delivery unit, EMR implementation, and working capital needs.
The Committee on Business and Economic Development voted to approve a draft committee report recommending issuance of up to $550,000,000 in tax-exempt District of Columbia revenue bonds to Children's Hospital.
Chair Kenyon McDuffie described the measure as intended to refund prior bond issuances and finance building renovations at the hospital’s Sheikh Saeed campus, including emergency-room upgrades and construction of a special maternal delivery unit, and to support acquisition and implementation of a modern electronic medical record and billing system. "This measure authorizes the issuance sale and delivery of up to $550,000,000 in tax exempt District of Columbia revenue bonds to Children's Hospital," McDuffie said.
McDuffie moved the draft committee report with leave for staff to make technical edits; members signified their approval and the chair declared the measure approved by the committee.
