Created as part of the Tax Cuts and Jobs Act, Opportunity Zones are a federal economic development tool aiming to improve the outcomes of distressed communities around the country. CDFA is leading the effort on understanding this new tool, and has created an Opportunity Zone Resource Center to help state decision makers as they prepare to designate their respective Opportunity Zones.
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Investing in Opportunity Act has a handful of question marks as it begins to take shape. But, at least one thing is certain. It will be very flexible capital, not just for housing but for broader uses like small business lending or economic development. 

Property Assessed Clean Energy (PACE) was recently used to finance a new grocery store in St. Louis, Missouri. This represents the first project to use PACE financing for new construction in Missouri and also the first project to use PACE for new construction retail in the country.

The Gateway Downtown Consortium, comprised of prominent Shreveport, Louisiana, business leaders and community members, has proposed a $1 billion downtown waterfront development that would built as a public-private partnership (P3), according to the Shreveport Times.

Two recent studies show those tax credits have been worth the cost, producing benefits through job creation, higher property values and economic revitalization in otherwise neglected neighborhoods.

Detroit, Michigan, has unveiled a new Capital Partnership Program to allocate $5 million per year to fund installation of approved Green Stormwater Infrastructure (GSI) projects for non-residential property owners.

Rosemont will give $1 million in tax increment financing funds to the developer of global logistics firm DHL's new Innovation Center, where the company plans to showcase products to clients from across North and South America.

The Shawnee City Council has approved issuing $48 million worth of industrial revenue bonds — an increase from an earlier estimate of $34.4 million — to help finance the Westbrooke Green mixed-use redevelopment at the northeast corner of 75th Street and Quivira Road.

Oakland voters in 2016 overwhelmingly approved a $600 million bond to fix city streets and build affordable housing. The ballot measure promised regular audits of the public funds and scrutiny of the spending by a citizen oversight commission. So far, neither of those has happened.

More than five years after the Holland Tunnel took severe seawater damage from Superstorm Sandy, the Port Authority of New York and New Jersey is spending $364 million dollars on repairs and resiliency measures for the 91-year old crossing.

President Trump's fiscal 2019 budget proposals to reduce funds for water infrastructure programs seem to run counter to his infrastructure plan and have left water, environmental, and state and local government groups disappointed.

The City of Pensacola, FL is remediating and developing an underwater Brownfield site with plans to build out a Marina. The Marina will be attached to an existing 36-acre Brownfields Site now home to the Community Maritime Park.

The CDFA Federal Financing Webinar Series is an exclusive, five-part online offering that will convene finance experts, federal agencies, and local practitioners to discuss the development finance programs offered by the federal government.

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