#1District of Columbia District of Columbia Investor Presentation September 24, 2015 District of Columbia#2Disclaimer This investor presentation is intended to provide certain information about the District of Columbia (the "District") to current and prospective investors only. This presentation does not constitute an offer or a solicitation of an offer to buy any security. Any such offer will be made solely by means of the official statement that is prepared and issued in connection with each particular securities offering. Forward-Looking and Cautionary Statements Except for the historical information and discussions contained herein, statements contained in this presentation may constitute forward-looking statements. Forward-looking statements are based on the District's current estimates and assumptions regarding future events, including business and financial performance in both the public and private sectors. These statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to: changes (whether positive or negative) in the economic, fiscal, and financial environment both inside and outside the District; fluctuations in revenues, liabilities, and financial results; impact of legal, economic, social, political, and financial conditions; changes or enactment and implementation of laws, regulations, and rules (including accounting rules); significant changes of the financial market or U.S. economy; and risks from legal proceedings. The District assumes no obligation to update or revise any forward-looking statements. District of Columbia#3I. II. Presentation Agenda Topic History of the District of Columbia Organizational Overview III. District Economy IV. District, Measured V. District Finances: Fund Balances, Revenue Estimates and Budgets VI. Debt and Capital Improvement Plan VII. Conclusion VIII. Appendix District of Columbia#4I. History of the District of Columbia District of Columbia#538°53' N 77°09' W 495 History of the District of Columbia 77°09' W 77°06' W 77°03' W 77°00' W 76°57 W 76°54' W 495 Military Rd. +Fart Reno 429 Missouri Av New Hampshire South Dakota Av. MARYLAND Nebraska Ar Canal Rd. MacArthur Blvd. Foxhall Rd. Massachusetts Av Wisconsin Av. Potomac R. WASHINGTON N. Capitol St. ה Michigan Av Rhode Island Av. 50 New York Av Florida Av HSt Bladensburg Rd. Benning Rd. Anacostia R. 29 White House Theodore Roosev so Constitution A395 George Washingt Memorial Parkway ■■U.S. Capitol Tal Independence Av. Busin Atacostia Fwy Minnesota Av VIRGINIA DISTRICT OF COLUMBIA Capitol St. Anacostia Fwy Potomac R. 5. Capitol St Pennsylvania Suitland Plowy Good Hope Rd. Alabama Av Capitol St. 4 mi 77°06' W 77°03' W 77°00' W 76°57' W 76°54' W Functions as a City, County, State and School District 38°47' N 38°50' N 38°53' N N.65.8 ■ 1801 Created ■ 1846 Alexandria County portion returned to Virginia ■ 1878 Congress establishes three member Board of Commissioners ■ 1961 23rd Amendment "Right to Vote for President" ■ 1967 President appoints first Mayor 1973 Congress passes Home Rule Act; popularly elected Mayor, 13-member Council Mid-1990s Control Board instituted; Independent CFO created ■ Mid-2001 Control Board activities suspended District of Columbia 5#6Unique Characteristics about The District Seat of the Federal government One of the most popular tourist destinations in the U.S. 2nd busiest rapid transit system in the nation, behind New York City Significant Institutional Presence: Colleges, Universities and Medical Schools, International Organizations, Foreign Embassies and Sports Organizations 52.4% of District residents over the age of 25 have a bachelors degree or higher vs. 28.8% of the US (2009-2013)* From 2009 to 2013, the median value of owner occupied housing in the District was 251% of the US median* Washington, D.C. tops Forbes 2014 list of America's coolest cities ○ Attractive to Millennials *Source: Bureau of Labor Statistics District of Columbia 6#7II. Organizational Overview District of Columbia#8The District's Overview Strong Economic Performance and Prudent Fiscal Management Strong Institutionalized Fiscal Management • Strong, institutionalized, and disciplined financial management • The Mayor and Council leadership support building the fund balance and fully funding the multiple reserve accounts Stable Economy • The Washington, D.C. area is a diverse economic region • Revenue growth supported by strong population and real estate growth Sound Budgetary Flexibility • Long track record of balanced budgets and clean audit opinions ⚫ 2014 General Fund balance of $1.87 billion, including over $863 million of federal and District mandated reserves Prudent Debt/ Pension Management . Statutory debt cap limits total annual debt service to 12% of total General Fund expenditures • District's pensions are fully funded District of Columbia 8#9Disciplined Fiscal Governance Independent Chief Financial Officer Appointed by the Mayor and Approved by Council, Subject to Congressional Review Broad Authority to Manage the District's Financial Affairs Manages Issuance of Debt and Affirms Debt Cap Compliance ■Can only be removed for cause, with the Mayor taking action, a 2/3 vote of the Council and subject to Congressional review ■ Assists the Mayor in the preparation of the annual budget and a required 5-year financial plan ■ Provides monthly and quarterly financial reviews and forecasts, and quarterly revenue estimates ■Certifies funding availability and prepares reports on the fiscal impact of all proposed legislation ■Certifies estimated revenues, neither the Mayor nor Council can revise the CFO's revenue estimates ▪Supervises and administers District borrowings to ensure compliance with federal and locally mandated debt limits District of Columbia 9#10FY 2014 Highlights of Pensions and OPEB Trust Fund Net Position Funded Ratio Discount Rate Police, Fire and $ 6,334,090,000 103.6% 6.5% Teachers Pensions Other Post- employment Benefits SA $ 1,051,359,000 85.7% 7.0% Note: All District of Columbia employees hired after October 1, 1987 are on defined contribution plans. Employees hired prior to October 1, 1987 are covered by the federal Civil Service Retirement System (CSRS). OPEB began for retirees in 1999 to subsidize health and life insurance. Source: The District of Columbia Retirement Board and FY 2014 CAFR District of Columbia 10#11III. District Economy District of Columbia#12(in thousands) 350 340 330 Labor Markets and Employment ■Resident employment ending in July 2015, increased 10,762 (3.1%) from a year earlier ■ Unemployment rate was 6.8% in July 2015, down from the high of 10.5% in mid-2011 ■ July 2015 wage and salary employment was up by 12,633 (1.7%) from one year earlier District Employment and Unemployment 320 315.2 313.5 310 300 290 2010 2011 332.0 2012 341.8 2013 348.0 12% 2014 Source: U.S. Department of Labor, Bureau of Labor Statistics; U.S. Department of Commerce, U.S. Census Bureau, Bureau of Economic Analysis 10% 8% DC Resident Employment 6% Unemployment Rate 4% 2% 0% District of Columbia 12#13Personal Income ■ Per capita personal income was 165.9% of the U.S. average ■ For the quarter ended March 2015, personal income grew by 3.6% and estimated wages of District residents grew by 3.4% from prior year ■Private sector wages in the same quarter grew 2.8% ($1.11 billion) District Per Capita Personal Income ($ in thousands) 78 76 74 72 70 $69.4 68 66 64 2010 $74.1 2011 $76.0 2012 $76.5 $75.3 2013 2014 Source: U.S. Department of Labor, Bureau of Labor Statistics; U.S. Department of Commerce, U.S. Census Bureau, Bureau of Economic Analysis ■DC Per Capita Personal Income District of Columbia 13#14Housing/Commercial Office Market ■ Single family home sales and the sale price in FY 2014 have increased by 1.1% and 3.3%, respectively, as compared to FY 2013 ■ For the quarter ended June 2015, commercial occupied office space and effective rent increased by 0.5% and 3.4%, respectively, compared to the prior year period The Housing Market Is Strong and Growing 9,000 (in thousands) $713 $630 $601 8,000 $538 6,968 7,000 6,000 5,000 2010 6,347 6,269 2011 2012 *Sales data include condominium units, price data does not Source: Metropolitan Regional Information Systems (MRIS); U.S. Census Bureau $736 $800 Number of Home Sales $600 7,616 7,466 2013 2014 $400 $200 $0 40 ($ in thousands) Average Home Sale Prices District of Columbia 14#15(in thousands) Growing Population ■ D.C.'s population has grown by 66,665 since 2009; averaging 800 net new residents per month ■From April 2010 to July 2014, the District's population increased 9.5% versus a nationwide increase of 3.3% 690 660 630 605 600 570 2010 Source: Bureau of Labor Statistics 620 635 659 649 2011 2012 2013 2014 District of Columbia 15#16IV. District, Measured District of Columbia#17What is District, Measured? (Blog of Facts to Dispel Myths) District, Measured is a new blog that was started in January 2015 by the District Office of Revenue Analysis staff The blog was established to share research on the economic and demographic trends taking shape in the District Topics covered have ranged from detailed economic studies to small informative data points: ✓ Stabilizing, yet shrinking, impact of federal government on District's economy ✓ From 2008 to Now: A dozen ways the District's economy has changed ✓ Who stays in the District and who leaves? ✓ Federal government's presence in DC property market (reducing the footprint) ✓ Reverse commuters now hold higher paying jobs ✓ DC's low wage workers have the longest commutes districtmeasured.com District of Columbia 17#18☐ From 2008 Peak to Now: the District's Economy has Grown Resident employment increased at a pace twice that of the region (15% versus 7%) Wages earned by District residents increased 33% vs 19% for non-residents (income taxes) Employment diversified, the four fastest growing sectors (retail, education, health, and hospitality) accounted for 73% of the growth from 2008 to 2013 Growth in Private sector wage and salary jobs located in DC: September 2008 to January 2015 All other sectors Information Professional and technical ser. Organizations and personal ser. Business services Finance Leisure and hospitality Health Education Retail trade -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% Source: Bureau of Labor Statistics DISTRICTMEASURED.COM District of Columbia 18#19Private Sector Growth Has Overcome Government Cutbacks (Year over Year Change, December 2014) 3,033 Other Professional and technical 2,667 Food service 2,533 Retail trade 2,034 Education 1,967 Local government 1,867 Other Business services 766 733 500 Employment services Construction Personal and miscellaneous ser. 466 Health 100 Finance 67 34 -100 -100 -333 -534 -867 -1,400 Amusement and recreation Information Other private Wholesale trade Legal services Organizations Accomodations Federal government -2,000 -1,000 0 1,000 2,000 3,000 4,000 District of Columbia 19#20V. District Finances: Fund Balances, Revenue Estimates and Budgets District of Columbia#21($ in thousands) $2,000 District of Columbia Fund Balance and Bond Rating History Cumulative Fund Balance $1,500 $1,000 Revitalization Act $500 $1.87 Billion Fund Balance Restoration Act of 2010 $- 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 $(500) Control Period -$518 million $(1,000) General Obligation Bond Ratings S&P: A- Moody's: Baa Baa A- Fitch: A- A- Baa A- B B B BB Ba BB Ba Ba2 BB BB Bal BB+ BBB BBB BBB+ BBB+ A- A- Baa3 Baa3 Baal Baal Baal A2 BBB BBB BBB+ BBB+ A- A- A A2 A A+ A+ A+ A+ A+ A+ A2 A1 A1 A1 Aa2 Aa2 A A+ A+ A+ AA- AA- A+ AA- AA AA Aa2 Aa2 Aa2 Aa1 AA- AA- AA AA & Income Tax Secured Revenue Bonds: S&P: AAA Moody's: Aa1 Fitch: AA+ District of Columbia 21#22($ in millions) Steady Increases in General Fund Balance Since 2009 $2,000 Fiscal Stabilization & Cash Flow Reserves $1,874 Emergency & Contingency Cash Reserves $1,749 $1,800 ■Restrictive Bond Debt Service Fund Other Nonspendable, Restricted, Committed, Assigned or Unassigned Funds 508.1 $1,600 $1,507 451.6 $1,400 441.9 $1,200 $1,105 $1,000 194.2 $930 339.1 $800 337.9 338.6 $600 288.3 $400 345.3 $200 304.5 $0 FY 2010 388.2 355.4 339.5 437.8 488.2 572.4 469.6 337.2 226.8 FY 2011 FY 2012 FY 2013 FY 2014 Note: Numbers may not add due to rounding Source: District's CAFRs from FY 2010 through FY 2014 District of Columbia 22#23The District's General Fund The District is Legally Required to Maintain Sizable Reserves ■Federal law requires the District to fund and maintain the Emergency Reserve Fund and the Contingency Reserve Fund ■District law established Fiscal Stabilization Reserve and Cash Flow Reserve Fund Requirement FY 2014 ($mm) FY 2015 Target Balance ($mm) Status Emergency Reserve Fund Federal $116 $122 Full Contingency Reserve Fund Federal $239 $243 Full Fiscal Stabilization Reserve District $165 $165 Full Account Cash Flow Reserve Account District $344 $344 56% $864 $874 Note: Numbers may not add due to rounding Source: District's FY 2014 CAFR, FY 2016 Proposed Budget dated April 2, 2015 District of Columbia 23#24June 2015 Revenue Estimate Actual Estimated Projected Local Source, General Fund Revenue Estimate ($M) FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 February 2015 to Estimate $6,307.4 $6,614.0 $6,867.1 $7,095.0 $7,344.0 $7,576.2 June Revision to Estimate 117.2 37.7 39.2 40.9 42.7 June 2015 Revenue $6,307.4 $6,731.2 $6,904.8 $7,134.2 $7,384.9 $7,618.9 Estimate Percent change from previous 1.7 6.7 2.6 3.3 3.5 3.2 year Source: Office of Revenue Analysis, OCFO District of Columbia 24#25($ in Billions) Federal Grants & Medicaid $3.2 24.2% FY 2016 Budget -- Revenue Sources Private Grants & Private Donations. $0.0* 0.0% Special Purpose Revenue $0.6B 4.5% Total Resources for the District of Columbia are approximately $13.1 billion for FY 2016 (excludes Intra- District funds). About 54 percent of this money comes from Local sources that the District collects from residents, visitors, and businesses. Federal Payments $0.1B 0.9% Enterprise Funds $1.8 Dedicated Taxes $0.3 2.5% Total $13.1 Billion *The amount from private grants and donations is $1.5 million Source: Office of Budget and Planning, OCFO Local $7.1 54.1% 13.8% District of Columbia 25#26FY 2016 Budget - Estimated Local Revenue -- Sources (Excluding Dedicated Taxes) ($ in Billions) Other Taxes Non-Tax Revenue Lottery $0.4 Gross Receipts Tax. 5.3%. $0.4 5.4% $0.1 Proposal, Transfers and Other 0.9% $0.1 $0.2 3.6% 1.1% Income Tax $2.3 32.6%. Sales Tax. $1.1 16.4% Source: Office of Budget and Planning, OCFO Fund Balance $0.1 1.3% Property Tax $2.4 33.4% Total $7.1 Billion District of Columbia 26#27($ in Billions) FY 2016 Budget -- Expenditures Enterprise Fund $1.8 13.9% Financing and Other $1.1 8.3% Governmental Direction and Support $0.8 6.0% Education and Human Support Services are about 52 percent of the District's budget. Governmental Direction and Support is the District's operating cost - running the Mayor's office, the Council, the Office of the Chief Financial Officer and others. Economic Development and Regulation $0.5 4.2% Public Safety and Justice Public Works $0.8 5.9% Human Support. Services $1.3 9.9% Public Education System $2.2 17.2% $4.5 34.6% Total $13.0 Billion Source: Office of Budget and Planning, OCFO District of Columbia 27#28VI. Debt & Capital Improvement Plan District of Columbia#29District GO Bonds - Unique Credit Strengths Unlimited Pledge and the Pledge of a Specified Tax • Special Real Property Tax -portion of real property tax revenue applied to the payment of debt service on GO bonds: • The District irrevocably pledges its rights, title and interest in the Special Real ● Property Tax to the payment of the bonds Perfected security interest in the Special Real Property Tax receipts Third Party Collection and Segregation of Funds for Debt Service • Set aside Special Real Property Tax revenues in a segregated debt service fund • Collection Agent collects all property taxes and segregates and transfers Special Real Property Tax revenues to the Custodian: . • Custodian transfers necessary amounts for GO debt service to the Escrow Agent on a weekly basis • Funds cannot be released from the Special Tax Fund until GO bond debt service has been paid or provided for Other Funds Available to Extent of Shortfall • In the unlikely event of a shortfall in Special Real Property Tax receipts, the District is obligated to pay debt service on GO bonds from any legally available funds: • Not subject to appropriation District of Columbia 29#30Income Tax -Secured Credit Features Strong Flow of Pledged Revenues Supported by a statutory first lien on the District's personal income and business franchise taxes • The pledged revenues have been less prone to economic downturn than certain other revenue streams of the District Independent Collection Agent and Trust Account . Business franchise taxes are collected daily by an independent Collection Agent and transferred immediately to the Trustee; no commingling with the General Fund Advance Debt Service Set-Asides • Retention provisions provide for the debt service due in the next ensuing fiscal year to be set aside during the current fiscal year commencing April 1 of each year High Coverage Ratios • Debt service coverage of 6.65x for the period FY2015 Projected Debt Service coverage of MADS (FY2023) of 6.63x Additional Bonds Test • The CFO must certify that Available Tax Revenues provide at least 3x MADS coverage District of Columbia 30#31(Dollars in Millions) $12,000 $10,000 $8,000 $6,000 $4.45 B $4,000 $2,000 Total Debt Outstanding Current Outstanding Total Debt - $9.55 Billion $9.55B 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: Office of Finance & Treasury, OCFO District of Columbia 31#32Distribution of Outstanding Bonded Debt ($ in Thousands) $1,686,744. $4,327,855. Source: Office of Finance & Treasury, OCFO 18% 45% 37% $3,537,180 ■General Obligation Bonds ■Income Tax Bonds Other Bonds District of Columbia 32#33The District Has Limited Variable Rate and Swap Exposure (Outstanding G.O. and I.T. debt) 2015 Debt Mix* (as of September 2015) Unhedged Variable Rate Debt 4.3% Synthetic Fixed Rate Debt 3.3% Unhedged Variable Rate Debt Fixed Rate Debt 92.4% ■Synthetic Fixed Rate Debt ■Fixed Rate Debt * The debt mix pie chart in 2015 reflects each debt category as a percentage of total G.O. and I.T. debt outstanding and does not include a $177.79 million floating-to-floating interest rate swap entered into in 2003 between the District and Bear Stearns Financial Products. The swap was assigned to JP Morgan in 2008. Source: Office of Finance & Treasury, OCFO District of Columbia 33#34($ in millions) FY 2016 - FY 2021: Capital Budget Funding CIP Projected Expenditures Total $6.2 Billion Department of General Services Department of Health Care Finance Office of the Deputy Mayor for Planning and Economic. $151.8 Department of Parks 3% and Recreation $126.9 .2% $148.8 3% Development $176.3 3% Department of Public Works $199.4 3% District of Columbia. Public Library $260.6 5% Other $497.9 8% Dept. of Transportation District of Columbia Public Schools Washington Metropolitan Area Transit Authority District of Columbia Public Library ■Department of Public Works ■Office of the Deputy Mayor for Planning and Economic Development Department of General Services Washington Metropolitan Area Transit Authority Dept. of Transportation $2,557.3 Department of Parks and Recreation $796.0 14% 45% ■Department of Health Care Finance District of Columbia Public Schools $1,268.6 22% Note: Numbers may not add due to rounding Source: FY 2016 Budget and Financial Plan District of Columbia 34#3570% of the FY 2016 - FY 2021 CIP Expected to be Funded with Long-Term Debt ■CIP is front-loaded to accelerate completion of the schools modernization program ■ The size and the proposed funding of the multi-year CIP ensure that the District remains under 12% debt cap through the 6-year plan period Projected G.O./I.T. Debt Issuance Totals $4.1 Billion ($ in millions) $1,000 $800 $600 $925 $925 $400 $200 $730 $700 $64 $619 $186 $700 FY 2016 FY 2017 Note: Numbers may not add due to rounding Source: FY 2016 Budget and Financial Plan $433 $804 $804 $666 $539 GARVEE Bonds ■Income Tax and/or G.O. Bonds $539 FY 2018 FY 2019 FY 2020 FY 2021 District of Columbia 35#36Projected Debt Service as a Percent of Projected GF Expenditures The District Maintains A Prudent Debt Policy CIP is monitored and prioritized so that debt service remains under the 12% debt cap ■ Significant focus on debt management ➤ 17% Federally Mandated Debt Limit (G.O and I.T. as a percentage of Local District Revenues) ➤ 12% Debt Ceiling Act (All tax and fee supported debt as a percentage of General Fund expenditures) Projected Annual Debt Service Percentages* (As of September 8, 2015) 12.0% 11.5% 11.0% 10.5% 10.51% 10.0% 9.5% 9.0% Actual 2014 9.93% 9.78% Projected 2015 *Preliminary assumptions, subject to change Source: FY 2014 CAFR and FY 2016 Budget and Financial Plan 10.23% 11.11% 11.75% Projected 2016 Projected 2017 Projected 2018 Projected 2019 District of Columbia 36#37FY 2016* - Proposed Financings Fiscal Year 2016 $400 million FY 2016 TRANS issued in November 2015 for cash flow needs $95.1 million Income Tax Secured Revenue Refunding Bonds -- Adjusted SIFMA Rate (Series 2011B and 2011E) $500 million (approx.) in G.O. and/or ITSB to fund the last phase of the FY 2015 CIP (Winter) $500-$600 million in G.O. and/or ITSB to fund the first phase of the FY 2016 CIP (Spring) * * Preliminary,subject to change District of Columbia 37#38VII. Conclusion District of Columbia#39Conclusion Wealthy and Stable Economy ■ Strong per capita income Population growth is driving a robust housing market ■ Commercial Real Estate is stable Growing and diversifying private sector offset federal fiscal austerity Excellent Financial Management Strong fiscal policies and laws ensure fiscal viability: ✓ Federal and local reserves ✓ Debt cap ■ Institutionalized practices such as multi-year financial and capital plans ■ Independent Office of the Chief Financial Officer: ✓ Certifies that budgets are balanced ✓ Estimates revenues conservatively ✓ Monitors revenues and spending throughout the year and affirms debt cap compliance ✓ Evaluates fiscal impact of all legislation Robust Financial Position ■ Congressionally and locally mandated reserves increased to $863 million in FY2014, which is 45 days of operating expenses ■ FY2014 General Fund Balance reached highest level ever: $1.87 billion ■ Highly diverse local revenue sources ■ Well-balanced debt portfolio Well-Funded Pension/OPEB ■ Pension and OPEB funds are managed using conservative and actuarial assumptions ■Full payment of the Pension and OPEB ARC ■ Police, fire and teachers pension plan is 103.6% funded ■ OPEB is currently 85.7% funded District of Columbia 38#40Contact Information Brand new "Investor Information" page can be found at cfo.dc.gov Email: DCInvestor [email protected] Contact Information: Jeff Barnette, Treasurer and Deputy CFO (202) 727-6055 [email protected] Carmen Pigler, Associate Treasurer (202) 727-6055 [email protected] Debra S. Taylor, Debt Manager (202) 727-6055 [email protected] Darryl Street, Sr. Financial Policy Advisor (202) 727-2476 [email protected] District of Columbia 40#41VIII. Appendix District of Columbia#42WE ARE WASHINGTON DC Walter Reed 123 1. City Center 2. Capitol Crossing 6. The Wharf 395 McMillan Sand Filtration Site 395 695 3. Navy Yard 295 695 4. Nationals Park 5. Soccer Stadium 233 295 St. Elizabeths 210 495#43CITYCENTERDC WE ARE WASHINGTON DC Project Background: A prominent location in the heart of the District puts CityCenterDC close to the region's best cultural destinations, two of the city's busiest Metro stations and the Convention Center. City CenterDC has become the unequivocal centerpiece of Downtown DC. Encompassing 10-acres in the heart of the District, CityCenterDC is a 2.5 million square foot vibrant neighborhood development enlivened with a mix of condominiums, apartments, offices, public spaces, hotel, restaurants and shops. CityCenter DC is a mixed-use, transit and pedestrian- Project Snapshot ADDRESS: Between H Street and NY Avenue/Eye Street, between 9th and 11th streets NW SSL: Square 0374, Lots 44-47 (as subdivided) ZONING: DD/C-3-C GROSS SQ. FOOTAGE: Approximately 2.5M SF DEVELOPABLE SQ. FOOTAGE: Approximately 350k SF (Parcel B) LOT SIZE: Approximately 375,000 SF total TRANSIT CONNECTIONS: Proximate to Metro Center, Gallery Place and Convention Center Metro Stations and multiple bus lines NEIGHBORHOOD: Downtown Project Benefits 6,000+ Construction jobs oriented neighborhood with great outdoor spaces that provides an engaging place for people to gather and connect. CityCenter DC is a model for responsible, environmentally sensitive multi-use developments. From building techniques and construction materials, to infrastructure, high-performance technologies, and efficiencies, all elements of the master plan positively influence the environment and everyday quality of life. The entire development has received a Gold certification for LEED® Neighborhood Development. • • • Project Updates PROJECT STATUS: Awarded MILESTONES: May 2015: Apartment buildings reached stabilization (97% leased) Summer 2015: Office buildings and condominium units will achieve stabilization/sell-out 2015-2016: Continuing retail openings including Paul Stuart, Fig & Olive and Momofuku Upcoming Spring 2016: Commencement of construction on hotel component w/ additional retail and high- quality meeting space • • 4,000+ Permanent jobs • 300,000 SF of retail addressing high-end retail leakage • Total $30M+ annual tax revenues 458 rental apartment units, including 20% affordability (92 units) at 60%/80% AMI 1.5 acres of high-quality public spaces and programming in the Public Park and plaza#44CAPITOL CROSSING WE ARE WASHINGTON DC Project Background: Capitol Crossing is a multi-phased, master planned development located in Washington's supply-constrained Central Business District bordered by Massachusetts Avenue to the North, E Street to the South, Third Street to the West and Second Street to the East. Capitol Crossing is located just a few blocks from both Union Station and the Verizon Center, and is walking distance to the Capitol. The seven and a half acre site of will create three new city blocks by developing a platform over the highway. There Project Snapshot ADDRESS: Massachusetts Ave. & 3rd Street NW, Washington DC 20001 GROSS SQ. FOOTAGE: 2.2M SF TRANSIT CONNECTIONS: 2 blocks from Union Station & Judiciary Square Metro red line stations, 3 blocks from Gallery Place Metro (red, yellow, and green lines). NEIGHBORHOOD: Three new city blocks connecting Capitol Hill and the East End. will be a new direct entrance and improved exit ramps on and off of I-395. Over 1,100 parking spaces will make visiting the Central Business District easier, and 440 bicycle parking spaces decrease traffic congestion. The state-of-the-art development will offer 2.2 million square feet of primarily commercial office and ground floor retail space. Large public promenades will surround new, innovative, and exciting retail concepts for the surrounding communities. • • • Project Benefits Construction jobs: 4,000 Permanent jobs: 8,000 $1.3 billion project (no District funding) 7 acre site 1100 Parking spaces 5 mixed-use buildings State-of-the-art upgrades to a 19th century utilities grid increase reliability for the neighborhood and create new infrastructure benefits for the future. 3rd Street Tunnel will align with post-9/11 safety and security standards Project Benefits PROJECT STATUS: Under construction MILESTONES: • • December 2012: Closed May 2015: Groundbreaking June 2015: Major construction underway in the highway Upcoming First building to deliver in 2017 Infrastructure complete Summer 2018 Project completion targeting 2019#45POTOMAC AVE SE NAVY YARD F1-G1-G2 WE ARE WASHINGTON DC SHOWPLACE Project Background: Located on the riverfront of the rapidly developing Capitol Riverfront district within walking distance of Capitol Hill and the Nationals ballpark, at completion, The Yards is expected to feature 5.5 million square feet of retail residential and recreational uses including 2,700 residential units, 1.8 million square feet of office space and 300,000 square feet of retail, restaurants and services. Project Snapshot ADDRESS: 125 O Street, S.E., Washington, District of Columbia 20003 ZONING: CG/CR (Parcels F1 - G-2) and CG/W- 1(Parcel G3). GROSS SQ. FOOTAGE: 717,041 TRANSIT CONNECTIONS: Green Line Navy Yard, five minutes from Waterfront NEIGHBORHOOD: Navy Yard Riverfront Project Updates PROJECT STATUS: Awarded NEXT MILESTONE: Construction Starts 6-01-2016 The award-winning waterfront Yards Park provides the green space centerpiece of the neighborhood. Over a dozen restaurants are already open, nearly 300 apartments are completed and 327 more apartments are expected become available in late 2015. A careful blending of adaptive reuse of historic buildings with new construction offers residents and visitors an eclectic, urban, riverfront neighborhood experience with an emphasis on sustainable design. • • Project Benefits Provides new high quality housing-including affordable housing-options for residents Incorporates neighborhood-serving retail amenities Commits to 35% LSDBE contracting 5.5 million square feet of retail residential and recreational uses 2,700 residential units 1.8 million SF of office space 300,000 SF of retail, restaurants and services.#462nd St. SW Stadium outline R St. SW DC UNITED STADIUM- Potomac Ave. SW D.C. BUZZARD POINT WATERSIDE MALL M St. SW P St. SW S. Capitol St. NATIONALS PARK LEVITED WE ARE WASHINGTON DC MARK EIN S St. SW AKRIDGE First St. SW PEPCO T St. SW Half St. SW FORT MCNAIR 2nd St. V St. Proposed D.C. United stadium BOLLING AIR FORCE BASE Project Background: Building on years of planning work and more recent public investment, Buzzard Point is on the verge of transforming from a bare industrial area to a compact, mixed-use, highly walkable, and environmentally sustainable neighborhood that is oriented toward an enhanced waterfront. On December 30, 2014, the DC Council formally approved the District of Columbia Soccer Stadium Development Act of 2014, which paved the way for a new state-of-the art soccer stadium in the Buzzard Point area of Ward 6. On June 30, 2015, the DC Council approved the Amended and Restated Development Agreement with Project Snapshot ADDRESS: Between Half Street and Second Street SW, between R and T Streets SQUARES: 605, 607, 661, & 665 LOTS: 7, 802, 13, 804, 805 & Part 24 ZONING: CG/CR (existing), Seeking PUD approval LAND SQ. FOOTAGE: 313,150 SF DEVELOPABLE SQ. FOOTAGE: TBD TRANSIT CONNECTIONS: 12-minute walk from green-line Navy Yard-Ballpark Metro Station. NEIGHBORHOOD: Southwest FINANCING: $106 Million of General Obligation or Income Tax-secured debt will be issued to finance a portion of this project in FY16. DC United, Amended and Restated Ground Lease and Purchase and Sale Agreement with Rollingwood Real Estate, LLC (Mark Ein), Super Salvage, Inc. (Super Salvage), and Potomac Electric Power Company (Pepco). Under the terms of the development agreement, the District will acquire and prepare the site for development, including utility relocation, demolition, and environmental remediation. The District's infrastructure and land acquisition costs are capped at $150 million. DC United is responsible for the design, construction, and operation of the stadium, which is capped at $150 million. • Project Benefits 17,000-25,000 seat facility Natural grass field surface Will host international soccer, US men's and women's national team matches, lacrosse, rugby, concerts, college football, and more Projected to generate $1.6 billion in economic activity Projected to support 1,059 full-time equivalent jobs Projected to generate $64.7 million in fiscal benefits Project Updates PROJECT STATUS: Planning MILESTONES: • December 2014: DC Council approved Soccer Stadium Development Act June 2015: DC Council approved development agreement with DC United and purchase agreement Planning to open prior to the 2018 season#47SOUTHWEST WATERFRONT - WE ARE THE WHARF WASHINGTON DC Project Background: The Southwest Waterfront is an emerging neighborhood steps away from the National Mall. The 27-acre site will be transformed through Washington D.C.'s waterfront revitalization efforts. The vision for this neighborhood is a true urban waterfront where retail, residential, cultural, and maritime as well as community activity comes together. The Wharf is a mixed-use waterfront opportunity, coming to life in the heart of the Nation's Capital. Located within walking distance of major commerce, The Wharf is centrally situated on the Potomac River, along the historic Washington Channel, a short distance from beloved national monuments, The White House, The Capitol and Smithsonian Museums. A network of boulevards, public promenades, parks and plazas will connect the mile-long waterfront to the existing neighborhood and Monumental Core and create a gateway to the greater Anacostia River park system. Project Benefits • 1,150 Construction jobs 2,100 Permanent jobs 1,375 Residential units (215 affordable & workforce units in Phase I) • 335,000 Retail SF • 675 Hotel keys • 945,000 Office SF LEED-ND Gold site, LEED Silver or higher buildings Rooftops with green roofs and solar panels Project Snapshot ADDRESS: 500-1000 Water Street SW & 1100- 1300 Maine Ave SW GROSS SQ. FOOTAGE: 3,200,000 LOT SIZE: 27 acres of land and 50 acres of riparian rights TRANSIT CONNECTIONS: Waterfront Metro (green line)and L'Enfant Plaza (green, yellow, blue, orange, and silver lines) NEIGHBORHOOD: Southwest Waterfront FINANCING: $145 million of Tax Increment Financing (TIF) debt was issued in Aug. 2015. A total of $198 million of TIF debt is authorized. Project Updates PROJECT STATUS: Under Construction MILESTONES: . 2014: Groundbreaking held • 2015: Two of seven total tower cranes erected (for the InterContinental Hotel and Vio condominium project) July 2015: Bottoming out held July 2015: American Psychiatric Association signed a 63,000 sf office lease for their headquarters August 2015: Complete piles and concrete at Market Pier Upcoming • Spring 2016: Anticipated completion of Residences at Waterfront Park#48WALTER REED A WE ARE WASHINGTON DC Project Background: The Walter Reed Army Medical Center (WRAMC) former campus is located on the north end of the District, between 16th Street and Georgia Avenue. This location is approximately six blocks from the District boundary at Eastern Avenue and about two miles south of Downtown Silver Spring. The LRA Site occupies 66.57 acres of the 110.1-acre former campus. The remaining 43.53 acres on the eastern portion of campus will be occupied by Department of State (DOS) and a Public Health user. The LRA site has frontage on 4 sides: Fern Street on the north, Aspen Street to the South, and 16th Street on the west, making the site readily accessible to the adjacent neighborhoods. a surplus local With the recommended closure of the Walter Reed Army Medical Center (WRAMC) in 2005, the Federal government declared 62.5 acres on the main post of WRAMC in northwest Washington, DC as property, thereby making it available to redevelopment authority (LRA) for re-use. Acting through the Walter Reed LRA, the District of Columbia acquired 5 additional acres, including site frontage, through negotiations in 2010, and was charged with submitting a Reuse Plan to the U.S. Department of Defense and the Department of Housing and Urban Development. Project Snapshot ADDRESS: 6900 Georgia Avenue, NW. SSL: PAR 03190005 ZONING: WR-1 through WR-8 GROSS SQ. FOOTAGE: 4.5M SF DEVELOPABLE SQ. FOOTAGE: 3.1M SF LOT SIZE: 66.57 acres TRANSIT CONNECTIONS: 16th Street NW & Georgia Ave NW WMATA Bus lines Takoma Metro Station (WMATA Redline) within .6 miles NEIGHBORHOOD: Shepherd Park, Takoma & Brightwood Project Benefits 2,300 Construction Jobs 3,460 Permanent jobs $900M Estimated tax revenue (over 30 years) 432 Affordable housing units 2,100 Residential units 212,000 Retail SF Project Updates PROJECT STATUS: In Negotiation NEXT MILESTONES: Fall 2015: Submitting finalized deal to the DC Council for approval Winter 2015-16: Securing DC Council approval Spring 2016: Transfer of the property Significant Project History July 11, 1864, Confederate troops led by General Jubal Early attempted to enter the city, but were turned back by Union troops on what later became the WRAMC site. 1860s In the 1880s, 131 acres of land between Seventh Street and Rock Creek was purchased by J. D. Cameron, which included the 110.1 WRAMC occupies today. 1880s 1900s In 1903 Lt. Colonel Williams Cline Borden commissioned local architects Marsh and Peter to produce a watercolor rendering and sketch plans for a medical campus. In 1948 General John Pershing died at Walter Reed. Pershing, who led US forces in Europe during WWI, was a vocal supporter of the hospital and advocated for the medical care of the soldiers who served under him. 1940s In 1977, the new Hospital, Building 2, was completed at Walter Reed; it took five years to construct. 1970s#49MCMILLAN SAND FILTRATION SITE WE ARE WASHINGTON DC Project Background: Redevelopment of the historic McMillan Sand Filtration Site, a 25-acre property located in the heart of the District of Columbia, represents a singular opportunity to adaptively reuse the former water filtration facility for Washington, D.C. The old McMillan Sand filters served as the District's water purification system for approximately 80 years. Operations were ceased in 1986 when the U.S. Army Corps of Engineer's Washington Aqueduct division built a more efficient treatment plant. Subsequently, the U.S. Army Corps sold the surplus land Project Snapshot ADDRESS: Between Michigan Ave & Channing St NW; between North Capitol St & First St NW SSL: 0800 3128 ZONING: C-2-A GROSS SQ. FOOTAGE: 2.19M SF TRANSIT CONNECTIONS: Served by N. Capitol Street bus lines, planned shuttle service to Brookland Metro station; proximate to Rhode Island Ave/NY Ave for vehicles. NEIGHBORHOODS: Bloomingdale/Howard U/LeDroit Park/Edgewood Project Benefits to the District government in 1987 for development purposes. With impressive vistas of the U.S. Capitol Building, the Washington Monument and the Washington, D.C. skyline, the site is a premier location in the heart of our nation's Capital. DMPED and Vision McMillan Partners will create a large public park, community center with water recreation features, neighborhood-serving retail, housing for all income levels, and state-of-the-art healthcare facilities. It will also create thousands of permanent jobs for District residents. Project Updates PROJECT STATUS: Design Development MILESTONES: Entitlement Approvals: . May 2014: Historic Preservation Review Board Dec. 2014: National Capital Planning Commission, DC Zoning Commission, DC Council Aug. 2015: Mayor's Agent for Historic Preservation July 2015: Funding Approval from the DC Council Upcoming Mid-2016: Groundbreaking 4,284 Construction jobs 3,618 Permanent jobs $538M in estimated tax revenue (over 30 years) 677 Residential units 132 affordable / 545 market rate 125,000 Retail SF, including 50,000 SF grocery 1,050,000 Office SF 1,000,000 SF Healthcare facilities 8-acre park and community center with pool Preservation of historic buildings and Olmsted landscape design • 2017 - 2018: Community Center and Park delivery 2017-2018: Townhomes delivery . 2018-2019: Multifamily buildings with grocer delivery • 2018-2019: Healthcare facilities delivery#50ST. ELIZABETHS EAST REDEVELOPMENT WE ARE WASHINGTON DC Project Background: Minutes from Washington, D.C.'s global centers of commerce, power, media, science, and research, St. Elizabeths East is an exceptional opportunity to create a landmark for the 21st century. The 183-acre site provides unparalleled proximity and connectivity to one of the world's strongest real estate markets and regional economies in an environment that is serene and bucolic yet urbane, walkable, and transit-oriented. Its historic buildings are stately and sophisticated, and harken back Project Snapshot ADDRESS: 2700 Martin Luther King Avenue SE SSL: Lot 2, Square S-5868 ZONING: StE District DEVELOPABLE SQ. FOOTAGE: 5 million SF (multiple parcels) LOT SIZE: 183 acres TRANSIT CONNECTIONS: Adjacent to Congress Heights Metro Station (Metro Green Line); located along major transportation corridors - Martin Luther King Jr. Avenue, Alabama Avenue, and access from I- 295 and Suitland Parkway NEIGHBORHOOD: Congress Heights Project Benefits 7,056 Construction jobs • 6,486 Permanent jobs • $1B Estimated tax revenue (over 30 years) 1,300+ Residential units • 206,000 Retail SF 330,000 SF of hospitality space across 2 hotels • 1,800,000 Office SF . 500,000 SF of Innovation Hub space Significant Project History Organized by Congress in 1855 as the Government Hospital for the Insane, the institution that would become a nationally recognized symbol of healthcare and medical breakthroughs became known as St Elizabeths during the Civil War. 1860s Following its 19th century use for to an era of architectural integrity and building skills from generations past. St. Elizabeths East invites a mixed-use development that simultaneously serves nearby communities, nearby federal office tenants, and the pent-up local demand for retail, residential, and office/educational uses - all enhanced by substantial District of Columbia investment and planning to support the surrounding neighborhoods and infrastructure of this incomparable campus. agricultural purposes, the East Campus became home to a first group of buildings in 1902. The buildings referred to as the Richardson Group or the 1902 Buildings, were part of the largest expansion in the history of both campuses. - 1900s Project Updates PROJECT STATUS: Planning Interim Operations: R.I.S.E. Demonstration Center (tech + innovation center) and Gateway DC (food and special events pavilion) MILESTONES: May 2014: Request for Proposals issued July 2014: Received 5 responses Dec. 2014: Project awarded to Redbrick LMD-Gragg Cardona team July 27, 2015 Exclusive Rights Agreement with Gragg Cardona in place Upcoming: Historic Building "Beautification" (roof tile replacement) Pathway at St. Elizabeths East Opening (between Congress Heights Metro Station/Gateway DC) Completion of Security Site Assessment Opening of Kitchen-Share/Café at Gateway DC Construction of DC WASA Water Tower By the 1940s, the first and only federal mental facility with a national scope housed 7,000 patients and sprawled across more than 350 acres on both the west and east sides of Nichols Avenue (formerly Asylum Avenue and now Martin Luther King Jr. Avenue SE). 1940s Coinciding with the federal deregulation of mental healthcare, the 183-acre St Elizabeths East campus was transferred to the District in 1987. 1980s