Development Finance 101: Part 1
First Installment of f New Development Finance Series from CDFA
This four-part series addresses the fundamentals of development finance and builds the framework for understanding some of the industry’s more advanced financing tools. Development Finance 101 will provide a comprehensive overview of the ideal financing toolbox that every development finance agency should employ. From general financing mechanisms, such as bonds and loans, to more advance tools like tax credits and mezzanine funds, this resource will help lay a foundation for success.

Part 1: Finance Fundamentals
Part 2: Targeted Financing Tools (Coming September 2007)
Part 3: Tax Credits and Beyond (Coming January 2008)
Part 4: Access to Capital & Beyond (Coming April 2008)
2007 Development Finance Industry Survey
Major Survey Now Open Online
CDFA is conducting a major industry survey to better understand and benchmark the economic development finance industry. Your responses will help the Council and its members understand the scope of development finance agencies and their use of various financing tools. This information will help CDFA educate and plan programming around the needs of the industry.


April 2007 Headlines:

Market Continues Record Pace
Posted on Monday, April 02, 2007
By Matthew Posner

Auction Guidance Released
Posted on Wednesday, April 04, 2007
By Lynn Hume

Regulation: Grassley Asks for Budget Office Review Of Universities' Tax-Exempt Borrowing
Posted on Monday, April 09, 2007
By Alison L. McConnell

Council of Development Finance Agencies to Give Best TIF Award
Posted on Thursday, April 19, 2007
By Tedra Desue

Florida Panel OKs Use of TIFs For Backlogged Road Projects
Posted on Friday, April 20, 2007
By Shelly Sigo

CDFA Moves Forward on Legislative Front
Spring is an exciting and busy time of year for everyone. Life in the development finance industry is no different. CDFA is continuing to push legislative agenda forward and strengthen the efforts of state and local development finance agencies. The House and the Senate returned from recess busier than ever, signifying movement on Capitol Hill. The following is CDFA’s monthly legislative update.

CDFA Announces Proposed Legislative Changes
to Bank Qualified Limitations on Development Bonds
CDFA has released two legislative proposals related to “Bank Qualified” bonds. These proposals are part of the Council’s 2007 legislative agenda and will be sent to Capitol Hill later this year.
Legislative Proposal: “Bank Qualified” Manufacturing Bonds >>>READ MORE
Legislative Proposal: “Bank Qualified” 501 (c) (3) Non-Profit Bonds >>>READ MORE
Featured Resource: Tax Increment Financing in Florida
David Cardwell, speaker at the 2007 CDFA Development Finance Annual Summit, looks at the TIF tool and how it works in Florida. He provides a detailed background of the TIF tool, its implementation and process.

Featured Resource: A Case Study Review of Tax Increment Financing
Joel Garcia of the University of Pennsylvania prepared this report for the El Paso Chamber of Commerce. It looks at the theory, history and case studies of the use of TIF. The report also contains a literature review of TIF and some of the issues and concerns of TIF including inefficient development, eminent domain and public policy discussion on poverty.
Arbitrage & Rebate
This article explores the world of arbitrage and rebate. Arbitrage and rebate violations in various forms account for a very large percentage of issues audited by the IRS and, in turn, found to have violations. Learn the basics of arbitrage and rebate to avoid these pitfalls and begin to use these tools to your bond portfolio's advantage.

Peer-based Technical Assistance
CDFA technical assistance is a fee service available to organizations and communities in the development finance industry. Technical assistance ranges from helping clients develop and apply specific financing tools to sharing successful models from other geographic areas. The program utilizes a peer-based approach, drawing advisory teams from an expert network of CDFA members and affiliates. For more information, please contact CDFA or visit the program webpage.
Executive Director
Johnson City Development Authority
Johnson City, Tennessee

Associate, Public Finance Investment Banking
Stone & Youngberg
Public Finance Department
Annapolis, MD


CDFA Annual Summit - 3 Weeks Away!
Don't miss out on the development finance event of the year. Join CDFA in Miami this May as we examine the Waves of Change: Development Finance Solutions that Work! >>>LEARN MORE
The Industry Primer: Development Bond Finance Course (August 2-3) offers an in-depth look at tax-exempt financing, with an emphasis on Industrial Development Bonds for manufacturers and nonprofits … an important economic development tool that can bring economic growth to your community or expand your client base. >>>LEARN MORE
The Tax Increment Finance Course (November 1-2) is a national event presenting best practices and guiding principles for the application of this tool. The course brings TIF deal-making and best practices into focus through a two-day program targeting the entire spectrum of TIF stakeholders. >>>LEARN MORE


City of Lebanon, Ohio

Johnson City Development Authority - Johnson City, TN

Riverhead Industrial Development Agency - Calverton, New York



To submit articles, events or job postings for publication in CDFA Update email CDFA.
To subscribe or unsubscribe to the email version of CDFA Update, or to report problems with links, contact CDFA.