The proposed resolution, titled "Cesar Chavez Public Charter Schools for Public Policy Revenue Bonds Project Emergency Approval Resolution of 2025," seeks the Council of the District of Columbia's authorization to issue up to $25 million in tax-exempt revenue bonds. The funds will be utilized to refinance existing debt of the Cesar Chavez Public Charter Schools for Public Policy and to finance renovations and improvements at their campus located at 3701 Hayes Street NE in Ward 7. Planned enhancements include modernizing classrooms and science laboratories, upgrading the gymnasium, and improving ancillary facilities.
The resolution emphasizes that the bonds will not constitute a debt or financial obligation of the District, ensuring that the District's credit and taxing power are not at risk. The urgency of the resolution is underscored by the impending expiration of a term sheet with a prospective bank lender, which could lead to renegotiation and additional costs if the resolution is not adopted promptly. The Council is urged to act quickly to facilitate the financing and completion of the necessary improvements for the charter school.