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IDA Projects

IDA bonds were an integral part of the financing package for the $60 million project that included bonds, a capital campaign and land contributions.

At a time when very few Catholic secondary schools are being built nationwide, the Dumfries project is a welcomed addition to the regional community. It contains a multitude of state-of-the-art features including a glass-walled cafeteria with "bistro-style seating" overlooking the woods, 11 life-sized statues of saints, three athletic fields and a 500-seat auditorium. The Diocese of Arlington is an exception to the national norm, with its school enrollment increasing 15 percent over the past decade to 18,500 students, due in part to population growth in the region. The school opened on August 25, 2008 and enrollment continues to increase.

George Mason University (GMU) has multiple ways to finance construction of new buildings, such as conventional bank financing and borrowing through state programs. Recently, in collaboration with the IDA, GMU used a novel and unique financing arrangement to fund the construction of two new facilities at its Prince William Campus – a life sciences laboratory with an estimated cost of $38 million and a 152-bed graduate student housing building with an estimated cost of $17 million. This financing method provided GMU with greater flexibility in the creation and development of the project. Here is how everything worked:

Sentara Northern Virginia Medical Center is a 183-bed hospital located in Woodbridge, Virginia. It provides an integrated health system, medically advanced technology and quality care to the regional community. Using IDA bonds, Sentara has added a $2.3 million, 15,000 square foot, one-story hospital building addition that houses space for exam rooms and includes, a basement corridor that is adjacent to the existing building. Additionally, the facility has used IDA bonds to construct Sentara Lake Ridge, a state-of-the-art outpatient campus that offers easy access to 24-hour emergency care,  doctors' offices and quality diagnostic testing including advanced imaging, digital mammograms and lab services, all powered by Sentara eCare®, the Sentara electronic medical record system.

Novant Health Haymarket Medical Center represents a commitment to meeting the future healthcare needs of the community by bringing care to where it is needed. The new community hospital includes 60 all-private patient rooms, 24/7 Emergency Room with  20 private treatment rooms, a Critical Care Unit, a Medical/Surgical Unit, Women’s Health & Maternity Care, Well Baby Nursery, Four Operating Suites, Expanding Imaging Facilities and a Café