CDFA - Michigan Financing Roundtable 2010 Economic Development Finance Conference



The CDFA Michigan Financing Roundtable is dedicated to developing a sustainable economic development finance industry for the state of Michigan. A collection of CDFA members and finance leaders from across the state, the Roundtable brings together the development finance industry through education, news and research.



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The CDFA Michigan Financing Roundtable held the 2010 Economic Development Finance Conference on March 30, 2010. Over 60 development finance professionals joined CDFA to discuss and explore strategies for supporting Michigan's economic recovery.

During the 2010 Economic Development Finance Conference, we discussed the entire development finance toolbox and how these tools can be used to address the tough economic conditions in Michigan. The conference explored a variety of topics including bond financing, tax credits, tax increment finance and other tools being used in Michigan. In addition, experts from Michigan’s development finance industry presented case studies and best practices and offered perspectives on how to keep Michigan strong during this economic downturn.

Presentations
CDFA has provided the presentations from the CDFA Michigan Financing Roundtable 2010 Economic Development Finance Conference for downloading and review. These presentations have been posted as CDFA has obtained them. Please note that, in many cases, the dowloadable files are very large and could take a few minutes to open.

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PROGRAM

8:30 am Registration Open

9:00 am Welcome Remarks & Introduction to CDFA Michigan Financing Roundtable

The CDFA Michigan Financing Roundtable is dedicated to developing a sustainable economic development finance industry for the state of Michigan. A collection of finance leaders from across the state, the Roundtable brings together the development finance industry through education, news and research. The 2010 Economic Development Finance Conference marks the first public event of the Roundtable and the kick-off to this exciting initiative.

9:15 am Unlocking the Development Finance Toolbox

Having an understanding of the availability of development finance tools in Michigan is key to succeeding in today's competitive economic development climate. From bonds, tax increment finance and special districts to tax credits, seed and venture capital, revolving loan funds and much more, the development finance toolbox offers a wide range of resources. By utilizing the toolbox approach, economic development practitioners, public officials and private sector leaders can harness the full spectrum of the development finance industry to support business growth, build public financing capacity, increase investment and secure redevelopment and development projects.

10:00 am Short Break

10:15 am The Basics of Bond Finance

Bond financing is one of the most powerful tools for encouraging investment and growth. Over the past year, millions of dollars of bond financing resources have been allocated to Michigan and expanded to encourage investment and job growth. Knowing the differences between governmental and private activity bonds, general bond finance rules as well as the roles bond counsel play in the financing process is important in order to successfully use these tools.

12:00 pm Lunch – Michigan's Financing Approach

How is Michigan's economy fairing in the recent economic downturn? What economic development trends are economists, bankers and other professionals experiencing throughout our state? Join top development finance leaders as the Roundtable discusses Michigan's economic development finance approach and the efforts Michigan is undertaking to emerge as an economic leader.

1:15 pm Understanding Tax Increment Finance

Tax Increment Finance (TIF) has quickly become one of the nation's most popular development finance tools. It is imperative for development finance professionals to have a solid understanding of how TIF works to build a successful toolbox of financing programs. This session will focus on understanding what TIF is and why communities use it to achieve economic development objectives.

2:15 pm Short Break

2:25 pm Access to Capital & Investment Tools

Access to capital and investment tools provide critical financing opportunities for a wide variety of economic development projects. This session will cover the basics of these concepts through an examination of tax credits, revolving loan funds, and innovation finance. Tax credits can take a variety of forms, including New Markets Tax Credits and historic tax credits, and can often provide much needed equity for a project. Revolving loan funds are a gap-financing tool that can be paired with traditional bank lending for a variety of targeted purposes. Finally, innovation finance in the form of angel, seed and venture capital can be used to help grow young companies and create jobs in emerging industries.

3:25 pm Michigan Port Authorities – A State Financing Advantage

Port authorities play a key role in the economic development of Michigan. By using creative structured financing solutions, port authorities can help a variety of institutions obtain the financing they need to establish or grow their business. Learn from the best as Michigan’s port authorities discuss their programs and success stories.

4:25 pm Implementing the Development Finance Toolbox

Development finance agencies are routinely implementing the toolbox approach. This final session of the course will focus on case study examples of successful organizations that utilize the toolbox model and strategies for putting the toolbox in place at your organization.

4:45 pm Closing Remarks & Adjournment