District officials are scrambling to get legislation approved in the final days of Congress that would let the city issue almost $200 million in tax-exempt revenue bonds before the end of the year for construction projects at three Washington universities and an office and condominium complex in Georgetown.
The bill, approved by the House Nov. 27, is held up in the Senate by opposition from Sen. Howard M. Metzenbaum (D-Ohio).
Metzenbaum maintains that for-profit groups, such as the one planning to build the Georgetown complex, should not be the beneficiaries of costly federal tax exemptions on bonds.
Without the legislation, the bonds could not be issued this year and would fall under a revenue bond limit that the federal government is expected to impose in 1986.
All city legislation, including revenue bond authorizations, must survive a 30-day congressional review period. The bill approved by the House would waive that review period for bond issues still pending.
According to city and Capitol Hill staff aides, these include:
*A $127 million issue for Georgetown University to build an addition to its law school.
*A $12 million issue for American University for a dormitory.
*A $52 million issue for George Washington University to build an addition to the Burns Clinic.
*A $4.5 million issue for the Forrest Marbury House Associates Limited Partnership to build and renovate property at 3350-3360 M St. NW, near Key Bridge.