Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available, including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, and access to capital lending resources.
Indiana Makes Historic $557M Affordable Housing Investment
The Indiana Housing and Community Development Authority (IHCDA) recently announced the award of over $212 million in 9% Low-Income Housing Tax Credits (LIHTC) for 19 developments across the state. IHCDA also approved over $118 million in 4% tax credits, $145 million in tax-exempt bonds, and $59 million in Affordable and Workforce Housing Tax Credits (AWHTC) for 10 additional developments.
Recently Modernized CRA Expected to Increase Investor Demand for Tax Credits
On October 24, 2023, representatives of the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation released their final rule with respect to the Community Reinvestment Act (CRA), which is intended to strengthen and modify current regulations. Per the most recent update, which will apply to banks beginning on January 1, 2026, community development financing activities are more favorable to federal Low-Income Housing Tax Credit (LIHTC) and New Markets Tax Credit (NMTC) developments.
CDFA is Hiring a New Vice President of Development Finance
The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.
U.S. Energy Tax Credit Trading Grows to $9B
Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion - buoyed by legislation in 2022 that made these trades possible - as shown by a new study on the new clean energy transferable tax credit market that includes in-depth market analysis.
Post-IRA Clean Energy Projects Driving $20B in Private Investments, 67K New Jobs
Large-scale clean energy and clean vehicle projects in the first year of the Inflation Reduction Act (IRA) are projected to drive $20 billion in private-sector investments and create more than 67,000 new direct and indirect jobs to rural U.S. counties often bypassed by previous economic transitions, according to a new economic analysis by BW Research Partnership released by the national nonpartisan business group E2.
First Solar's $700M Tax Credit Transfer Agreement on Section 45X
Thin film solar module manufacturer First Solar has entered into two separate tax credit transfer agreements to sell $500 million and up to $200 million of advanced manufacturing production tax credits to finance tech company Fiserv. This marks the first significant credit transfer of its kind in the solar manufacturing industry.
Cinnaire Closes Funds Totaling $193M in LIHTC Financing
Cinnaire has announced the closing of two Low-Income Housing Tax Credit (LIHTC) funds totaling $193 million. These multi-investor funds – Cinnaire Fund for Housing (Fund 40) and Cinnaire Fund for Housing Mid-Atlantic 8 (MA8) – will support the creation or preservation of 1,849 affordable homes across 22 projects in nine states.
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