CDFA Names Rick Palank as New Chair of Board of Directors
-- Recognizes Outgoing Board Chair Frances Walton for Exemplary Service --
St. Louis, MO – CDFA has selected Richard M. Palank as their new board chair. Palank has served on the CDFA board since 2002, most recently as vice chairman. The announcement of CDFA’s newest board chair was shared at the organization’s recent Annual Summit held April 29 through May 1 at the Hyatt Regency in St. Louis. The Council also recognized outgoing Board Chair, Frances Walton for her two exceptional years of service.
Downtown Development Corporation, Louisville, KY – Downtown Housing Revolving Loan Fund Wins 2008 Practitioner’s Showcase Award
-- Recognized as Nation’s Best Revolving Loan Fund Program --
St. Louis, MO – The Downtown Development Corporation, Louisville, KY – Downtown Housing Revolving Loan Fund was selected as the best Revolving Loan Fund (RLF) program in the nation at CDFA's 2008 Annual Development Finance Summit in St. Louis, Missouri. Four finalists presented at the Practitioner’s Showcase: Best Revolving Loan Fund program at the Annual Summit, and a live audience vote determined the best Revolving Loan Fund (RLF) program in the country.
CDFA's Updated Manufacturing Definition Legislation Introduced in United States Senate
A bipartisan effort has resulted in major legislation on Capitol Hill. Senator Olympia Snowe, R-ME, Senator John Kerry, D-MA, Senator Sherrod Brown, D-OH, and Senator Gordon Smith, R-OR have introduced S. 2885, legislation proposed by CDFA to update the definition of manufacturing for industrial development bonds (IDBs). The Senators have worked diligently over the past several weeks to finalize the legislation and support this change as a way to assist manufacturing companies throughout the country.
Municipal Bond Insurance - Then and Now
Since late 2007, the municipal bond insurance industry has been unstable as a result of their loss exposure to collateralized debt obligations (CDO’s) and related concerns. Many questions exist regarding the value and utility of bond insurance and how this industry will reinvent itself after the turmoil is resolved. This article provides an overview of bond insurance prior to its decline, how bond insurance is being used now and what might be expected in the future.
Uneven Patchwork: Tax Increment Financing in Kansas City
Michael P. Kelsay with the Department of Economics at the University of Missouri-Kansas City authored this report for the Kansas City Chapter of Reclaim Democracy. The report looks at the Missouri TIF statute and how it is being applied in Kansas City as well as makes recommendations for improvement.


A Guide to Wisconsin's Tax Increment Law
The Wisconsin Department of Revenue, Division of State & Local Finance, Bureau of Property Tax released this guide to help interested parties understand how municipalities can create a tax incremental district and work within the state's statute to determine base value, amend boundaries, collect increment and allow the district to exist.



Recent Headlines:

Senate Tax-Extender Bill Would Prolong QZABs, CREBs
4/21/2008

New York's ESDC Plans to Restructure, Refund $1.5B of Variable-Rate Debt
4/16/2008

Vallejo City Council Votes for Bankruptcy
5/8/2008

Panel OKs Housing Bill
4/10/08

UBS to Close Down Its Municipal Bond Dept.
5/7/2008

CDFA Bookstore Offers Variety of Educational Resources
Need more resources for your development finance projects? Check out the CDFA Bookstore for resources on bonds, tax credits, tif and other tools. Members receive special discounts through CDFA's partnership with Novogradac & Company. >>>LEARN MORE
HUD to Offer Free Conference to Highlight Innovative Financing Programs Available to Housing Agencies. >>>LEARN MORE

CDFA’s Tax Increment Finance Course (July 17-18 in Washington, DC) offers an in-depth look at the guiding principles and appropriate application of TIF. This course brings TIF deal-making and best practices into focus through a two-day program. >>>LEARN MORE
The Development Bond Finance Course(September 18-19 in Washington, DC) offers an in-depth look at tax-exempt financing, with an emphasis on Industrial Development Bonds for manufacturers and nonprofits. IDBs are an important economic development tool that can bring economic growth to your community or expand your client base. >>>LEARN MORE
CDFA's new training course, the Revolving Loan Fund Essentials Course, will debut November 20-21, 2008 in Washington, DC. This course will set the stage for how to implement and maximize this important development finance tool. >>>LEARN MORE


CAN DO, Inc. - Hazelton, PA

Chapman & Cutler - Chicago, IL

City of Richardson, TX

Downtown Development Corp - Louisville, KY

Guam Economic Development and Commerce Authority - Tamuning, Guam

Milano Graduate School at New School University - New York, NY

NexGen Advisors - Chicago, IL

Tyler Economic Development Council - Tyler, TX



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.
CDFA - 815 Superior Avenue - Suite 1301 - Cleveland, OH 44114