Friendship Public Charter School, Inc. Revenue Bonds Project Approval Resolution of 2026
This resolution authorizes the District of Columbia to issue up to $90 million in revenue bonds to support Friendship Public Charter School, Inc. The bond proceeds may be used to refinance the school’s outstanding 2016A revenue bonds, acquire and renovate property at 4069–4089 Minnesota Avenue NE, and fund capital improvements, equipment, furnishings, reserves, capitalized interest, and issuance costs across Friendship’s network of campuses. The project covers multiple Friendship facilities in Washington, DC, including elementary, middle, high school, and online academy sites.
The resolution also authorizes the District to make a loan of bond proceeds to Friendship and sets out the terms under which the bonds may be issued, sold, secured, and repaid. It specifies that the bonds are special obligations of the District payable only from project-related revenues and other non-tax sources identified in the financing documents, and not from the District’s general credit or taxing power. The measure further allows refunding bonds in the future, subject to the overall $90 million cap, and requires the Mayor or an authorized delegate to approve the final financing and closing documents.
If adopted, the resolution would create legal authority under section 490 of the Home Rule Act for the District to participate in a tax-exempt revenue bond financing for a charter school project. It does not change general education law or charter school governance, but it does authorize a specific financing transaction and related loan arrangement, while limiting District liability and clarifying that the bonds are not general obligations of the District. The resolution affects Friendship Public Charter School, bond purchasers, the District’s financing officials, and any trustee or other parties named in the financing documents.
The overall sentiment reflected in the bill materials is favorable. The fact sheet describes Friendship Public Charter School as financially stable, academically strong, and in good standing with its authorizer, and the Attorney General’s office certified the resolution as legally sufficient. The financing is presented as feasible and beneficial, with the project framed as supporting educational facilities and long-term capital needs rather than expanding enrollment. No committee votes or transcript debate were provided, so there is no evidence of recorded opposition in the supplied materials.
The main issues that could draw scrutiny are the size and structure of the financing, the use of public bond authority for a private nonprofit charter operator, and the District’s limited but formal role in the transaction. The resolution addresses these concerns by emphasizing that the bonds are special obligations, not backed by the District’s faith and credit, and that the District has no obligation to issue the bonds unless it chooses to do so. Another potential point of discussion is the allocation of proceeds across refinancing, acquisition, and campus improvements, but the provided materials do not show active disagreement over those uses.