Washington DC Massage Parlors: Bonds available for private companies
Written on June 8, 2010 – 2:48 pm | by rubmedownthere
MT. VERNON — Now that the Jefferson County Board has declared the county as a Recovery Zone to allow the Mt. Vernon Township High School and the city to use a total of $4.4 million in bonding, there is still more than $6.6 million in bonding ability available to private companies.
“The bonds can be used for private sector projects that typically would be ineligible for tax exempt bonds,” Jefferson County Development Corporation Executive Director Mary Ellen Bechtel explained. “It gives companies the ability to access that bond feature, which lowers their interest rate.”
Recovery Zone Facility Bonds, also known as Tax Exempt Private Purpose Bonds, permit the county to provide the tax exempt financing to projects such as office buildings, warehouses and storage facilities, commercial development, retail business, shopping centers, auto dealerships, restaurants, hotels and medical office buildings. According to information from the U.S. Treasury Department, the bonds can’t be used for residential rental facilities, golf courses, massage parlors, country clubs, health clubs, hot tub facilities, liquor stores or gambling facilities.