Development Finance Review Weekly - August 24, 2023
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Features |
Join CDFA at the 2023 National Development Finance Summit
CDFA is traveling to Philadelphia, PA for the 2023 National Development Finance Summit! The NDFS brings together leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. Register today for Early Bird rates!
Rhode Island Works to Bring Broadband to All Residents
The Ocean State has long supported expanding broadband access, adoption, and application for its residents. Capitalizing on funding from the COVID-19 pandemic, Rhode Island established programs to keep kids in school, enable aging residents to take advantage of online resources, and bolster state opportunities in tech.
Council in Minnesota Approves TIF Plan for 300 Block of South Broadway
To make way for expected development that is proposed to begin on the 300 block of South Broadway in 2024, the Albert Lea City Council approved a tax-increment finance redevelopment district and plan for up to $1.6 million over the course of 26 years. Tax increment financing is a tool communities have to provide gap financing for projects without impacting existing taxes.
$20M for Water Infrastructure Upgrades for Erie County, NY Water Authority
Governor Kathy Hochul announced $20 million in water infrastructure upgrades for communities in Erie County. With this funding, the Erie County Water Authority can complete a long-awaited, $80 million overhaul that includes upgrading water filters that treat 60 million gallons of water from Lake Erie each day and haven't had substantial upgrades for 70 years.
Missouri Receives $14M from U.S. Department of Energy for Grid Resilience
The U.S. Department of Energy (DOE) awarded Missouri almost $14 million to strengthen and modernize the state's electrical infrastructure. The funds come from the DOE's Grid Resilience State and Tribal Formula Grant program and will be used by the Missouri Department of Natural Resources to give communities better access to affordable, reliable, and resilient electricity services.
USDA Announces Another $667M for Rural Broadband Loans and Grants
The U.S. Department of Agriculture (USDA) will spend another $667 million on rural broadband loans and grants, marking the fourth round of funding under a program that the Infrastructure Investment and Jobs Act (IIJA) invigorated. Nearly three-quarters of the funding, $493 million, will go toward grants. The latest round of funding awards will go to 38 projects in 22 states and the Marshall Islands.
Harris County, TX Voters to Decide on $2.5B Bond Issuance for Health System Expansion
Harris County, TX voters will have to decide whether or not to fund a $2.5 billion expansion over the next 10 years for the Harris Health hospital system in a move that could expand health care access for more than 1 million uninsured residents after Harris County commissioners unanimously approved the bond.
Rural Action to Open Regional Food Business Center With $40M Investment
Rural Action has been selected to establish the Appalachia United States Department of Agriculture Regional Food Business Center, an initiative aimed at supporting the growth and sustainability of local food businesses across the Appalachian region. The center was created with over $40 million of funding from the USDA.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Michigan Returns With $1.2B Deal to Fund Highways
Michigan priced $1.2 billion of state trunk line fund bonds. The deal, part of the Rebuilding Michigan road program, will fund the reconstruction of several major highways and other infrastructure projects in the state. It hit the market nine months later than the state initially planned.
Vermont Sells $114.6M of GOs in a Two-Part Process
Vermont launched part one of a two-part general obligation bond sale with a competitive auction of $61.2 million of new money bonds. That will be followed by a $53.5 million GO refund that is expected to be priced by negotiation.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.
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Upcoming Webcasts |
CDFA Food Systems Finance Webinar Series: Investment Tools & Food Systems
August 29, 2023 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we explore how programs at the state and federal levels can offer unique financing solutions and catalyze investment in local and regional food systems.
CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop
September 7, 2023 - 1:00 PM - 4:00 PM Eastern
The CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop will provide development finance agencies (DFAs) enrolled in the second tranche of the Program with detailed instruction and guidance geared toward the development of their behavioral change strategies. The workshop will also include an equitable lending presentation and a discussion of best practices for unlocking capital for underserved borrowers.
CDFA // BNY Mellon Development Finance Webcast Series: Best Practices and Strategies for Housing Finance
September 19, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Webcast Series, development finance practitioners will highlight the variety of finance tools available for supporting affordable housing projects and discuss best practices for deploying these to meet the growing need.
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Job & RFP Postings |
Business Oregon-RFP for Bond Counsel
The Oregon Business Development Department (Business Oregon) is seeking proposals from firms with the expertise to serve as bond, disclosure, and tax counsel (Bond Counsel) in providing services related to the structuring, sale, and issuance of State of Oregon Revenue Bonds and Private Activity Bonds issued on behalf of Business Oregon by the Office of the Oregon State Treasurer.
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This Week's Headlines |
California Invests $3B in Projects to Rebuild Transportation Infrastructure
Times-Herald | Aug. 23 | Energy Finance | Federal | Infrastructure Finance
City of Cortez, CO Urges Property Owners to Apply for Free Brownfield Assessments
The Journal | Aug. 23 | Brownfield Financing | Community Development | Redevelopment
GreenRock Provides $172M in C-PACE Financing for Office Tower in Oakland, CA
Rebusiness Online | Aug. 23 | Energy Finance | Property Assessed Clean Energy (PACE)
PACE Sues to Restart Hillsborough County, FL Loans
Tampa Bay Times | Aug. 23 | Bond Finance | Energy Finance | Property Assessed Clean Energy (PACE)
Pierre City, SD Takes Step Toward Establishment of Third Business Improvement District
DRG News | Aug. 23 | Community Development | Redevelopment | Tax Increment Finance (TIF)
Proposed $10M Pine River Township, MI Redevelopment Indefinitely Delayed
Morning Sun | Aug. 23 | Brownfield Financing | Redevelopment
Sen. McConnell Addresses FEMA Funding for Hawaii and Kentucky Infrastructure Bill
WBKO | Aug. 23 | Disaster Recovery & Relief | Infrastructure Finance
Wells Fargo Leads $75M Warehouse Finance Facility for Greenbacker Renewable Energy
ABL Advisor | Aug. 23 | Energy Finance | Revolving Loan Funds (RLFs)
Moody's Upgrades Credit Rating from A2 to A1 for Cook County, IL
Cook County Government | Aug. 22 | Bond Finance | Bond Rating Agencies
USDA Invests $150M for Emerging Climate Market Connections
U.S. Department of Agriculture | Aug. 22 | Access to Capital | Green Finance | Legislative | Rural Development | U.S. Dept. of Agriculture (USDA) | Legislative Activities
USDA Invests $17M for Healthcare Access in Rural Iowa
River Cities' Reader | Aug. 22 | Access to Capital | Healthcare | Legislative | Rural Development | U.S. Dept. of Agriculture (USDA)
Why Bond Investors Should Prepare for Trouble Due to Climate Risks
The National News | Aug. 22 | Bond Finance
Alaska to Receive $45M Under IIJA to Culvert Restoration Projects
Alaska's News Source | Aug. 21 | Infrastructure Finance | Legislative | U.S. Dept. of Transportation (DOT) | Water Finance
Fitch Rates NYC Transitional Finance Authority $1B Fiscal 2024 Series B 'AAA'
Fitch Ratings | Aug. 18 | Bond Finance | Bond Rating Agencies
Ludlow, KY School District Board of Education Approves $10M Bond Issuance
Link NKY | Aug. 18 | Bond Finance
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National Sponsor Spotlight |
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Frost Brown Todd LLC
With over 500 lawyers across their eight-state footprint, Frost Brown Todd LLC offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
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Hawkins Delafield & Wood LLP
Hawkins Delafield & Wood LLP is the only national law firm in the United States whose practice is devoted primarily to public finance and public projects. Each of their specialty areas supports and complements our municipal transactions practice....
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Ice Miller LLP
Ice Miller is nationally recognized for its public-private partnerships (P3s), municipal bond, and economic development experience. Built on a foundation of legal service more than a century-long, the firm is committed to helping our clients stay...
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Partner Spotlight |
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The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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CDFA Bookstore |
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New Members |
Tennessee Rural Development Fund, LLC - Cookeville, TN
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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