Field School seeks $25 million in tax-exempt bonds to build innovation center

The Field School asked the Council’s Committee on Business and Economic Development on Oct. 29 to approve up to $25,000,000 in tax‑exempt revenue bonds to build a 15,000‑square‑foot innovation center, renovate the Wonder Building and upgrade athletic fields at its Foxhall Road campus.

John Reager, chief operating and financial officer for The Field School, told the committee that bond proceeds "will be repaid solely by the school" and said the financing "will add no direct or indirect financial burden or risk to the district government or its citizens." Reager said the school has raised a portion of the project's $37,000,000 cost and views the bond program as essential to completing the work.

Chair Kenyon McDuffie, who chaired the hearing, pressed the school about community engagement and local contracting. Reager said the project went through the BZA process and that "we had no neighbors testify against us" and that written responses from the community were positive. McDuffie asked about certified business enterprise (CBE) participation; Reager said the board previously adopted a policy aiming to award at least 30% of overall contract value to CBEs, and confirmed Davis Construction is the general contractor for this project.

Reager estimated construction completion by the end of 2026 if the resolution is advanced. He asked the committee to support sending the measure to the full council. The committee received the testimony and reserved government witness comment for the end of the roundtable.