Summary: District of Columbia; Tax Increment

Standard&Poor's Ratings Services has assigned its 'A-' long-term rating to the District of Columbia's (D.C.) series 2012 (Gallery Place project) tax increment revenue refunding bonds. Securing the bonds are incremental real property tax assessments and sales tax increment collections from the Gallery Place project area. Under the series 2012 indenture, the bonds are also payable from available revenues that are derived from real property and sales tax increment revenues collected from the broader Downtown Tax Increment Financing (TIF) Area--net of the portion of real property tax revenues applied to the district's general obligation (GO) bonds; carved out (footprint) property and sales tax increment; and a portion of the sales tax on hotel rooms and food and beverages dedicated

RESEARCH Summary: District of Columbia; Tax Increment Publication date: 25-May-2012 Primary Credit Analyst: Le Quach T, New York (1) 212-438-5544; le_quach@standardandpoors.com Secondary Contact: John Sugden, New York (1) 212-438-1678;...

Summary