CDFA UPDATE

Year: 2008 Month: December

Headline: CDFA Update: December 2008 - Bond Market Changes, Green Building Underwriting, FHLB Letter of Credit & Job Postings

CDFA Update is the monthly e-newsletter of the Council of Development Finance Agencies. December 2008
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  Feature  

The Bonds of Debt
The FedGazette, a publication of the Federal Reserve Bank of Minneapolis, dedicates its November 2008 issue to the recent changes in the municipal bond market. In The Bonds Of Debt, editor Ronald A. Wirtz discusses how the mid-September changes in the broader financial market provide a loud wake-up call to the municipal bond market. No longer are governments able to get the cheap financing they were accustomed to receiving, but instead are now faced with paying higher interest rates or shelving projects until borrowing becomes cheaper and more accessible.
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Green Building Underwriting Standards
The Green Building Underwriting Standard and the Capital Markets Partnership (CMP) Green Value Score is a straightforward, easy-to-implement tool allowing lenders, private equity investors, developers, and real estate owners the ability to rate an asset's "greenness" at the time of financing or acquisition. The tool is structured as an underwriting overlay that enhances current underwriting practices, increases transparency, and serves as an indicator of investment risk and long-term asset value.
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CDFA Spotlight

CDFA Spotlight: California Deal Makes Use of FHLB Letter of Credit for IDB
The California Enterprise Development Authority (CEDA) and California Industrial Development Financing Advisory Commission (CIDFAC) have closed on the first industrial development bond (IDB) deal to utilize a new provision that allows Federal Home Loan Banks (FHLBs) to issue a standby letter of credit on tax exempt bonds.
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Legislative Front

CDFA Legislative Front: As New Administration Nears, New Opportunities Emerge

With the Presidential election over, attention has now returned to new and continuing business on Capitol Hill. However, the lame duck status of the current administration and Congress means significant, new legislation will have to wait until 2009.
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Development Finance Today TIF Center
Marlborough Approves Tax Breaks for Sepracor
The MetroWest Daily News | 12/2/2008

Transforming Bayonne
The Bond Buyer | 12/1/2008

Providence Development Could be Delayed
The Boston Globe | 12/1/2008

City to help fund mixed-use project
Reporter-Herald | 12/1/2008

Merriam Pointe Developers Miss Deadline for Incentives
Kansas City Business Journal | 12/1/2008


  Legislative News


News & Notes

City of Minneapolis
Minneapolis Finance Department
Director of Development Finance

The Minneapolis Finance Department is seeking applicants for the appointed position, Director of Development Finance. Salary range for 2008: $84,039 - $92,886 per year.
>>>READ MORE

Upcoming Events

Advanced Bond Finance Course The Advanced Bond Finance Course will be held January 29-30, 2009 in Washington, DC. This course is designed for professionals who already have an understanding of tax-exempt financing and seek detailed instruction on complex financing techniques, including the application of financial derivatives, advance refundings, how to spot arbitrage issues, and investing bond proceeds.
>>>REGISTER TODAY
Tax Credit Finance Course The Tax Credit Finance Course examines the application of tax credit programs in greater economic development finance efforts. This course will discuss the practical application of tax credit programs including brownfields, new markets, low income housing, historic preservation, and state-specific programs.
>>>REGISTER TODAY
Annual Development Finance Summit Registration is now open for CDFA's 2009 Annual Development Finance Summit, May 5-7 in Pittsburgh, PA. Make plans today for the 23rd Annual Summit, the premier nationwide gathering of economic development finance professionals from the public, private and non-profit sectors.
>>>REGISTER TODAY
Fundamentals of Economic Development Finance Course The Fundamentals of Economic Development of Finance Course is the foundation for all of CDFA's educational offerings.This course will help you understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.
>>>REGISTER TODAY
Industry Primer: Development Bond Finance Course The Industry Primer: Development Bond Finance Course offers an in-depth look at tax-exempt financing with an emphasis on industrial development bonds (IDBs) - the primary financing source for small manufacturers - and 501(c)(3) non-profit bonds. This intro-level course provides a solid foundation for building a strong IDB program, which can bring economic growth to your community or expand your client base.
>>>REGISTER TODAY
Advanced Tax Increment Finance Course The Advanced Tax Increment Finance Course builds upon CDFA's introductory TIF Course by focusing more concretely on structuring the deal and developing short- and long-term policies. You will also learn about process, feasibility analysis and the necessary due diligence required to conduct sophisticated TIF transactions.
>>>REGISTER TODAY

New Members

Denver Urban Renewal Authority - Denver, CO

Walton County - Freeport, FL

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.

Council of Development Finance Agencies
815 Superior Avenue, Suite 1301
Cleveland, OH 44114
(216) 920-3073
info@cdfa.net

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