Building the Ideal Financing Toolbox
As Published in the Fall 2006 Economic Development America Magazine
Written by CDFA executive director, Toby Rittner, this article profiles the programs and practices that economic development agencies should consider when implementing their overall financing strategy. The article provides a concise overview of the development finance industry from A to Z with case studies and examples of development finance in action.
Municipal Bond Enforcement Update
Requesting a Refund of Arbitrage Rebate from the IRS
Mark Scott, Partner with the law firm of Vinson & Elkins, provides a Municipal Bond Enforcement Update – Requesting a Refund of Arbitrage Rebate from the IRS. Mr. Scott is the former head of Tax Exempt Bonds at the IRS. This article has been written for issuers and borrowers who dutifully pay their arbitrage rebate timely, but discover that they paid too much in error or are due a refund because of negative arbitrage in later periods. The article answers questions concerning refund filings and will analyze the history of rebate refunds, provide insights into the current processes for seeking a rebate refund as well as warn about potential pitfalls and legal issues.

February 2007 Headlines:

Regulation Panel: Counsel Can Protect Issuers from Investment Legal Woes
Posted on Thursday, February 08, 2007
by Alison L. Mcconnell and Lynn Hume

MassDev Nearly Doubles its Bonding From FY 2006 Pace
Posted on Thursday, February 08, 2007
by Michelle Kaske

Hill Takes Over as Head of ACA Financial's Muni Business
Posted on Wednesday, February 14, 2007
by Matthew Hanson

GO Zone Deals Get Green Light
Posted on Friday, February 16, 2007
by Tedra DeSue

Regulation: NABL to Provide Guidance to CDFA on Industrial Development Bonds
Posted on Tuesday, February 20, 2007
by Alison L. McConnell

CDFA Eyes the FY08 Budget and 110th Congress
Movement Made on CDFA Legislative Agenda
The month of February is not only the shortest month of the year, it is also one of the busiest. There is much to take notice of besides keeping focused on CDFA’s legislative priorities and agenda. The proposed FY2008 Budget was recently unveiled by the Bush administration. The 110th Congress has announced its committee and subcommittee members and has begun addressing issues for the year. CDFA’s staff and members have also been busy.
Using TIF Policy to Encourage Smart Growth
Presentation by CDFA at National Smart Growth Conference
This presentation, given by CDFA executive director, Toby Rittner, at the recent National Smart Growth Conference, takes a look at the public policy discussion related to the use of tax increment financing for encouraging smart growth. The presentation defines TIF and its various forms as well as explains what the tool can be used to finance. The presentation also explains how this influential tool can be used to support smart growth through sound public policy decision making.


NJ’s Version of Tax Increment Financing...RADs will Provide Municipalities with Another Tool to Encourage Redevelopment Projects
This article looks at the New Jersey Revenue Allocation Districts (RAD) program. The article has three main objectives including, current examples of RAD projects in New Jersey, providing readers with an understanding of RAD and how it works, and details of the RAD process.
Gulf Opportunity Zone Bonds
The Gulf Coast region of the U.S. was hit hard in 2005 by several hurricanes including Katrina, Rita and Wilma. In response to the record devastation, the U.S. government passed the Gulf Opportunity Zone Act of 2005 (GO Zone Act). This legislation authorized special funding to help rebuild the Gulf Coast. The GO Zone Act authorized several financing tools to help revitalize the Gulf Coast region including tax-exempt bond financing, low-income housing credits and several other financing tools. This fact sheet focuses on Gulf Opportunity Zone Bonds (GOZB) and their many uses.
The Rating Agencies
All new this month, The Learning Corner explores the various rating agencies and explains the role of these very important entities in the development finance process. Written by CDFA's training director Stan Provus this article provides insight into the complex ratings system.
Site Selection is one of the leading and most respected publications in the development industry and is a key source of information for new industry development, plant and facilities expansion, and corporate relocation insight. Through a strategic partnership with Site Selection, active CDFA members are eligible to receive a 50% subscription rate discount (total price of $47.50 per year). This is a significant savings for one of the most important industry publications today. To take advantage of this great offer, contact CDFA to request the special subscription code.
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. Strategic planning, advisory seminars, workshops and custom research are available within the budget of organizations small and large. Whether your group issues bonds, facilitates small business development or manages incentive programs, CDFA can shed new light on existing activities and provide direction for the future. For more information, please contact CDFA or visit the program webpage.
Vice President Community Development – Fall River
MassDevelopment

Vice President, Infrastructure/Governmental Finance
MassDevelopment

Executive Director
Washington Economic Development Finance Authority

The Annual Summit (May 22-24, 2007 in Miami, FL) is the premier development finance industry event of the year. Featuring dozens of sessions, workshops, distinguished speakers and presentations on a wide variety of finance topics, the Summit provides economic developers, finance professionals, private sector leaders and community advocates a prime opportunity for networking, education and information sharing. >>>LEARN MORE


All American Investment Group - Denver, CO

City of Lorain, OH

Economics Research Associates - Washington, DC



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.