Georgetown inches closer to $90 million in tax-exempt bonds

The University is one step closer to securing $90 million in tax-exempt bonds from the D.C. government.

The request was introduced to the Committee on Finance and Revenue on October 1, and despite the ANC’s opposition the committee voted it out last Friday. (What’s a Bond film without a hackneyed villain?) However, not all $90 million will go toward the Science Center, which is estimated to cost $98.5 million.

“Approximately $74 of the $90 million is targeted for the science center,” Julie Green Bataille, University spokesperson, wrote in an email. “The rest will be prioritized for use for other capital improvements and maintenance of existing facilities.”

None of the bond money will go toward improving the University’s wireless capabilities, according to Bataille. Georgetown plans to fund that project through annual operating expenses.

Although Bataille added that specific projects have not yet been identified, committee legislation [PDF] alludes to potential tasks, including the relocation of roads that surround the Science Center, the renovation and modernization the main campus, the law campus, and University-owned town houses, as well as technology infrastructure upgrades.

To secure funding for the Science Center, the D.C. Council must approve the University’s bond application. The Council will vote on the request on November 9, according to Ruth Werner, acting committee clerk for Ward 2.

Photo: Georgetown College

8 Comments on “Georgetown inches closer to $90 million in tax-exempt bonds

  1. I feel like every design I see of the Science center is different. And while none of them are “ugly” per se, none really inspire.

  2. @Doug
    this is Georgetown. we’ve got a reputation to uphold.

  3. I think it’ll be really nice, and the outside isn’t so bad. Especially those nude white people congregating in front.

  4. Dahlgren quad continues falling apart while we build ourselves yet another gleaming new toy to play with. Rebuild the heart of the university first.

  5. @Jacob

    I inferred that “other capital improvements and maintenance of existing facilities” and “renovation and modernization the main campus” meant restructuring some of the more decrepit parts of the school like Dahlgren quad. So, expect a follow-up clarifying some of the projects.

  6. I thought the Science Center was going to be gray stone instead of brick. No more brick!

  7. Pingback: Vox Populi » Georgetown gets $90 million to complete Science Center, renovate facilities

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