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Development Finance Review Weekly - July 23, 2020

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Development Finance Review Weekly
July 23, 2020
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CDFA Development Finance Review Weekly

Feature

How COVID-19 Could Revive P3s in the U.S. Infrastructure Market
U.S. infrastructure has been badly hit by the COVID-19 outbreak, but there are hopes that the post-pandemic environment will see a refreshed approach to public-private partnership projects. Some point out that an opportunity may be arising from the crisis for the public and private sectors to work more efficiently together.

Where Things Stand With the Next Coronavirus Bill
We've entered day three of coronavirus negotiations on Capitol Hill — and the talks are going exactly as predicted: pretty slow, with no signs of a breakthrough anytime soon. Politico expects the GOP to release the legislative text of their proposal before the end of this week.

Rural Hospitals Hang on as Pandemic Reaches Smaller Communities
As the COVID-19 pandemic battered large, metropolitan areas this spring, rural hospitals prepared to be next on the frontlines. But to ready their facilities for a potential surge in patients, those small hospitals had to forgo many of their most profitable operations.

San Diego, CA Council Asks Voters to Decide on $900M Housing Bond
A $900 million housing bond measure that has been years in the making is finally going to be placed on the ballot this November in San Diego. The measure would fund construction of around 7,500 new affordable-housing units and be paid for with a property-tax increase, according to the report.

Young Farmers and Farmers of Color Shut Out of COVID Federal Assistance
Across the country, young farmers, first-generation farmers and farmers of color say they have been left out of coronavirus relief for the agricultural industry. The oversight, which they say has left them on an unstable financial footing, threatens to cut off a promising growth area of small-scale farms and younger farmers against a wider backdrop of consolidation and aging of American agriculture.

FCC Tacks on Another $198M to Rural Health Care Program Funding
The Federal Communications Commission (FCC) has responded to the surge in demand for stronger telehealth infrastructure by padding its Rural Health Care Program with an extra $198 million in funding, putting total funding for the program at a record $802.7 million for 2020.

Congress Considers Additional Support for Tax-Exempt Issuers and State and Local Infrastructure Projects
Two bills from the House of Representatives (H.R.2, the Moving Forward Act, and H.R.3967, the Municipal Bond Market Support Act) and two from the Senate (S.4203, the American Infrastructure Bonds Act, and S.4129, the Lifting Our Communities through Advance Liquidity ("LOCAL") for Infrastructure Act) could have significant effects on state and local government bond issuers and developers of infrastructure if enacted.

Central Ohio PACE Investments Surpass $100M
The Columbus Regional Energy Special Improvement District (ESID) managed by the Columbus-Franklin County Finance Authority surpassed $100 million in committed investments this year with the approval of financing for the Near East-Side Trolley Barn project. This comes five years after Franklin County provided the Finance Authority seed funding to establish the Columbus Region Energy Fund to offer PACE financing in the county.

Upcoming Events
CDFA Virtual Summer School
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Bill that Boosted FirstEnergy Muni Debt at Center of Ohio Corruption Case
Ohio legislation that provided a ratepayer bailout for two nuclear power plants owned by then-bankrupt FirstEnergy Solutions is at the center of a $60 million pay-to-play scheme that led to the arrest of Ohio House Speaker Larry Householder on federal corruption charges this week. The legislation improved the trading value of some of First Energy's secured municipal bonds that had been dragged into the bankruptcy case.

Municipal Revenues Steeply Decline in College Towns
Most students cleared out in March from the college towns around the nation that depend on them for their economic base, precipitating an economic dive that has been steeper than most other places around the nation. These thousands of college towns may be officially incorporated as cities, villages, or boroughs, but they all face common revenue shortfalls that range from a drastic drop in hotel occupancy taxes to another decline in water and sewer use.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Upcoming Webcasts

CDFA Food Systems Finance Webinar Series: Neighborhood Revitalization Through Food Systems Finance
Thursday, July 30, 2020 - 2:00 PM Eastern
This installment of the CDFA Food Systems Finance Webinar Series will illustrate the positive impacts that result from financing food systems at a neighborhood scale, and will showcase the versatility of projects and financing approaches.

CDFA Federal Financing Webinar Series: Federal Recovery Resources from the SBA
July 31, 2020 - 1:00 - 3:00 PM Eastern
During this webinar, administrators from the SBA will provide a year-end analysis of its COVID-19 relief programs and discuss what we can learn about providing small businesses with access to capital.

This Week's Headlines

EDA Invests $3.3M to Rebuild Airport Hangar Buildings Damaged by Hurricanes in Carteret County, NC
WNCT 9 | Jul. 22 | Disaster Recovery & Relief | Federal | Infrastructure Finance | Opportunity Zones

Retailers Ask Senators to Support Healthy Workplace Tax Credit
National Retail Foundation | Jul. 22 | Disaster Recovery & Relief | Legislative | Tax Credits | COVID-19

USDA Seeks Feedback to Launch Program to Create High-Wage Jobs in Rural Communities
USDA | Jul. 22 | Access to Capital | Federal | Innovation Finance | Rural Development

$3.5B in New Markets Tax Credit Allocations Announced
Opportunity Finance Network | Jul. 22 | Tax Credits | U.S. Dept. of Treasury CDFI Fund | Federal New Markets Tax Credits (NMTCs)

Bipartisan Bill Introduced for Tax Credits to Food Distributors
The Hill | Jul. 21 | Disaster Recovery & Relief | Food Systems Finance | Legislative | Tax Credits | COVID-19

USDA Announces $15M in Grants for Socially Disadvantaged and Veteran Farmers and Ranchers
USDA | Jul. 21 | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Historic Mesa, AZ Building Recast for a Hi-Tech Future
East Valley Tribune | Jul. 20 | Opportunity Zones | Redevelopment

How $659B in PPP Loans Are Being Spread Across Lenders, States, and Industries
Business Insider | Jul. 20 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | COVID-19

HUD, OCC Tout Opportunity Zone Potential
DSNews | Jul. 20 | Opportunity Zones | U.S. Dept. of Housing & Urban Development (HUD)

Juneau, AK Proposes $15M Bond Package to Stimulate Economy
Juneau Empire | Jul. 20 | Bond Finance | Disaster Recovery & Relief | Economic Development | Infrastructure Finance | COVID-19

Milken Institute Makes Case for an Infrastructure Predevelopment Fund
Milken Institute | Jul. 20 | Access to Capital | Disaster Recovery & Relief | Infrastructure Finance | Legislative | COVID-19

House Energy and Commerce Committee Advances Five Energy Bills to Floor
Daily Energy Insider | Jul. 17 | Energy Finance | Federal | Infrastructure Finance | Legislative | Public-Private Partnership (P3) Financing | Tribal Finance | Energy Efficiency Programs

Pennsylvania Closes First C-PACE Deal, $1.5M for Efficiency Improvements
Philadelphia C-PACE | Jul. 17 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | State Finance Program | Case Studies | Property Assessed Clean Energy Bonds (PACE) | State Green Finance Programs | Case Studies

EPA Issues $4.1M Cleanup Plan for North Alcoa Site in East St. Louis, IL
EPA | Jul. 16 | Brownfield Financing | Water Finance

Pennsylvania Redevelopment Assistance Capital Program (RACP) Grant Applications Now Available
Pennsylvania Office of the Budget | Jul. 16 | Access to Capital | Community Development | Disaster Recovery & Relief | State Finance Program | COVID-19


National Sponsor Spotlight

CohnReznick CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...
FBT Project Finance Advisors LLC FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
Fifth Third Bank Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company that has $168 billion in assets and operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. With nearly 160 years of...

Partner Spotlight

Association of Development Financing Institutions in Asia and the Pacific Association of Development Financing Institutions in Asia and the Pacific
The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to...

CDFA Bookstore

Cover thumbnail Tax Credit Finance Reference Guide
The Tax Credit Finance Reference Guide provides an exploratory overview of how communities can use tax credit finance programs to support economic growth. This guide examines how to effectively apply tax credits to development opportunities, and explains the basics of tax credits and the fundamentals of using these tools.

New Members

City of Dickinson, TX - Dickinson, TX

City of Keene, TX - Cleburne, TX

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor