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DC Owns Garage

February 14, 2014

The District is now the proud owner of the DC USA parking garage, free and clear of debt. Thanks largely to the popularity of the Columbia Heights shopping destination, the D.C. government was able to pay off the garage in only five years, 15 years ahead of schedule. On Feb. 1, the Office of the Chief Financial Officer made a final, $1.25 million payment on the $46.9 million of revenue bonds issued to finance the construction of the 1,000-space, two-level parking structure at 14th and Irving streets NW. While the bonds were issued in 2006, no payments were made until 2008, when DC USA opened to the public. (WBJ)

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