DC’s industrial revenue bond program (IRB) provides access to tax-exempt financing to help businesses and non-profit organizations renovate and build new construction, make tenant improvements, and purchase capital by securing interest rates up to 4% lower than a traditional commercial loan.
IRB can be used to finance, refinance, and reimburse the costs of acquiring, constructing, restoring, rehabilitating, expanding, improving, equipping, or furnishing real property and related subordinate facilities. More than $11.5 billion has been issued through Washington, DC’s IRB program since 1994.
Non-profit organizations and manufacturing businesses locating within the District are generally eligible for the IRB program. Other businesses may be eligible as well depending on the type of good or service produced and the location of their site within Washington, DC.
These bonds are used to finance a wide variety of projects including:
- Elementary, secondary, college, and university facilities
- Health care & health facilities
- Housing & hotels
- Industrial and commercial development
- Pollution control facilities
- Recreational facilities
- Sports, convention and entertainment facilities
- Student loan programs
- Transit and utility facilities
- Association of American Medical Colleges
- Capitol Hill Day School
- The Catholic University of America
- Cesar Chavez Public Charter Schools for Public Policy Chavez Prep
- Courtyard Marriott
- Gallaudet University
- Georgetown University
- National Association of Realtors
- National Public Radio (NPR)
- Premium Distributors
- Shakespeare Theater
- The Spy Museum
- Studio Theatre
DC Revenue Bond Program Activity in the District
March 31, 2022 - Mayor Bowser and other District officials – including our very own Deputy Mayor Falcicchio and Revenue Bond Program Director Will Liggins -- were on site for the Ribbon Cutting at Studio Theatre for their expansion that used $9.5 million in funding from the DC Revenue Bond Program.
To apply or for additional information, please contact the DC Revenue Bond Program at 202-727-6365 or [email protected].