CDFA Bond Finance Update - February 15, 2022

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Features

Announcing the 2022 CDFA-FFWS: Capacity Building Programs from EDA and NIST

The CDFA Federal Financing Webinar Series is an exclusive, six-part online offering that will convene finance experts from several federal agencies to discuss the variety of federal programs available. Register now for this upcoming session of the FFWS, which will highlight the resources available at the Department of Commerce to support projects in communities of all sizes.

LA County, CA Provides Nonprofit Builder Land, $72M for Affordable Housing Project

Nonprofit developer Bridge Housing Corp. has received $72.4 million in bond financing to build an affordable housing complex on a long-blighted lot in South Los Angeles. The Los Angeles County Board of Supervisors approved the funds to construct 180-unit apartment buildings on 4.2 acres owned by the county at Vermont and Manchester avenues.

Town, County Approve Bonds Up to $25M for Airport Improvements in Jackson, WY

The Teton County Board of County Commissioners and Jackson Town Council have voted unanimously to allow the Jackson Hole Airport Board to issue one or more private-activity revenue bonds in an amount not to exceed $25 million. The money will go to financing and/or refinancing the design, construction, remodel, and improvement at the Jackson Hole Airport,

Private Activity Bonds: An Introduction

The federal tax code classifies state and local bonds as either governmental bonds or private activity bonds. This report provides a brief review of bond fundamentals and a more detailed examination of the rules and definitions surrounding private activity bonds to help clarify the impact of proposed modifications.

Private Activity Bonds for Qualified Broadband Projects

Much attention is rightly being paid to the many billions of dollars that the National Telecommunications and Information Administration will distribute to states in the coming months to ensure broadband networks reach everyone in America. However, there's been less attention given to a provision in the new law creating a new vehicle for broadband deployment: private activity bonds.

New Council Members in Kansas Get Crash Course in STAR Bonds

The state's STAR Bond Act allows the use of incremental sales tax revenues – the difference between predevelopment base sales taxes and the increase in sales taxes following new construction/redevelopment – from a specified district to fund STAR bond projects. Available taxes to help in that funding are the state sales tax, local sales tax, and transient guest tax.

Great Lakes Platform Helps Connect Green Investors With Regional Projects

The Great Lakes Impact Investment Platform is helping to promote investment opportunities that benefit the environment, including renewable energy, clean water, and ecological restoration. The platform features 40 projects representing nearly $4.5 billion in investments, including household energy efficiency retrofits, coal mine reclamation, and utility-scale solar development.

Black-Owned Firms Hired to Distribute Bond Issuances

Citi announced that it worked exclusively with five Black-owned firms to distribute a $2.5 billion bond issuance, reinforcing the firm's commitment to increasing racial equity in the capital markets and the broader financial services industry.

New Report Recommends Financial Innovations to Accelerate Sustainable Agriculture

The Alliance for Sustainable Agriculture released a new report, Financial Innovations to Accelerate Sustainable Agriculture: Blueprints for the Value Chain, highlighting the need for innovative financial mechanisms and incentive strategies to accelerate the transition to sustainable agriculture.

Market Reports

Upcoming Events

CDFA // BNY Mellon Development Finance Webcast Series: Analyzing the Impact of COVID-19 Emergency Loan Funds
Tuesday, February 22, 2022 - 2:00 PM - 3:00 PM Eastern

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we take a look at some takeaways from the deployment of CARES Act funds and other emergency pandemic response programs, including how communities designed emergency loan funds and what impacts the funds had on small and micro businesses.

CDFA Federal Financing Webinar Series: Capacity Building Programs from EDA and NIST
Tuesday, March 1, 2022 - 2:00 PM - 3:30 PM Eastern

This session of the Federal Financing Webinar Series will highlight the resources available at the Department of Commerce to support projects in communities of all sizes. Learning about these programs can help fund projects in your community such as investing in physical infrastructure, developing new small business access to capital tools, building scalable startups, and creating and retaining manufacturing jobs.

News from

The latest municipal finance headlines from The Bond Buyer.

Buttigieg Highlights P3s, Pledges Flexible Infrastructure Funding

Public-private partnerships have a big role to play in U.S. transportation infrastructure over the next decade, said Department of Transportation Secretary Pete Buttigieg. Buttigieg spoke to the National Governors Association's winter meeting Saturday, fielding questions about P3s and promising flexibility and speed when partnering with states on the $1.2 trillion IIJA.

Ratios Rise, As Do Short Muni Yields

Selling pressure on the short end continued on Monday and triple-A benchmark yields were cut by as much as five basis points there while U.S. Treasuries pared back earlier gains and equities rebounded from a large selloff earlier in the day.

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.

Bond Finance Headlines

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Highlights from the Online Resource Database

Private Activity Bonds: An Introduction
Bond Finance

This report provides a brief review of bond fundamentals and a more detailed examination of the rules and definitions surrounding private activity bonds to help clarify the impact of proposed modifications.

The purpose of the report is to equip value chain actors with innovative financial mechanisms and incentive strategies that can be employed in agricultural sustainability projects to support producers in scaling conservation adoption.

>>> EXPLORE BOND FINANCE RESOURCE CENTER

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 visit CDFA.net or email info@cdfa.net

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.

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