City of Alexandria, Virginia
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MEMORANDUM
DATE: MARCH 4, 2015
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, ACTING CITY MANAGER /s/
DOCKET TITLE:
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Consideration of a Resolution Authorizing the Issuance of Revenue Bonds by the Industrial Development Authority of the City of Alexandria for the American Association of Physicists in Medicine (AAPM). [ROLL-CALL VOTE]
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ISSUE: Resolution authorizing the issuance of revenue bonds by the Alexandria Industrial Development Authority (AIDA) in an amount not to exceed $7,714,077 to assist the American Association of Physicists in Medicine (AAPM), a not-for-profit 501(c)(3) corporation to finance or refinance certain costs related to the acquisition, development, construction, furnishing and equipping of a new headquarters facility of approximately 12,364 square feet located at 1631-33 Prince Street, within an existing office condominium complex.
RECOMMENDATION: That City Council adopt the attached Resolution (Attachment 1) as recommended by the AIDA.
DISCUSSION: On February 19, 2015, the AIDA passed a resolution (Attachment 2) authorizing the issuance of AIDA revenue bonds in an amount not to exceed $7,714,077 for the purpose of assisting the American Association of Physicists in Medicine (AAPM) to finance or refinance certain costs of (i) all or a portion of the acquisition, development, construction, furnishing and equipping of a new headquarters facility of 12,364 SF to be located in an existing office condominium complex located at 1631-33 Prince Street and other property functionally related and subordinate thereto; and (ii) financing bond issuance costs and other eligible expenditures.
AAPM is currently headquartered in owned office space located in College Park, Prince George's County, Maryland. After a search throughout the region, specifically focused on Wa...
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