District of Columbia approves issuance of $700 million in revenue bonds for affordable housing renovations.

The District of Columbia Council has approved the issuance of up to $700 million in revenue bonds to finance the renovation of 19 affordable housing buildings. DC Housing Solutions, Inc. will use the bond proceeds for building renovations, machinery and equipment, architectural and engineering services, exterior additions, and reserves. The bonds will be issued in one or more series and will mature within three years. The District will not be liable for the bonds, which will be without recourse to the District and will not involve its taxing power.

District of Columbia approves issuance of $700 million in revenue bonds for affordable housing renovations.

The District of Columbia Council has approved the issuance of up to $700 million in revenue bonds to finance the renovation of 19 affordable housing buildings. DC Housing Solutions, Inc. will use the bond proceeds for building renovations, machinery and equipment, architectural and engineering services, exterior additions, and reserves. The bonds will be issued in one or more series and will mature within three years. The District will not be liable for the bonds, which will be without recourse to the District and will not involve its taxing power.