Development Finance Review Weekly - July 12, 2018
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Feature |
Kresge and Rockefeller Webinar on Opportunity Zones-related Request for LOIs
The Kresge and Rockefeller foundations hosted a webinar to give an overview and answer questions about their joint request for Letters of Inquiry (LOIs) related to Opportunity Zones. This recording includes the full presentation including the question and answer period.
How the BUILD Act Advances Development
The Better Utilization of Investments Leading to Development Act (BUILD Act)—which aims to "facilitate the participation of private sector capital and skills in the economic development of countries with low- or lower-middle-income economies"—has made its way through the House and Senate authorizing committees.
KeyBank Announces Financing for 50-Unit Development in Rochester, NY
KeyBank Community Development Lending & Investment (CDLI) is providing $15.5 million in financing to Home Leasing for the construction of Charlotte Square on the Loop in Rochester, NY. The funding includes a $6.6 million construction loan and $8.9 million in low-income housing tax credit (LIHTC) equity.
$100M CEDA Financing Supports San Francisco Conservatory of Music
Proceeds will be used to finance and refinance the cost of acquisition of real property and the construction of a new twelve-story, approximately 170,000-square-foot, mixed-use building at the northeast corner of Van Ness Avenue and Hayes Street, San Francisco.
Fourth ACRF Financing Closed in Akron, OH
The Akron Community Revitalization Fund (ACRF) is announcing its fifth loan for $1.6 million which will finance the construction and buildout of the ground floor commercial/retail space of Middlebury Commons- a mixed-use project with affordable apartments for seniors and first floor retail space.
NH BFA Issues RFP for National Bond Administration Services
The New Hampshire Business Finance Authority invite proposals from qualified bond program administrator services firms interested in providing the Authority with Bond Program Administrator Services. Firms are invited to submit information outlining their organization's qualifications and willingness to provide the bond program administrator services
ME Settles on $200M Borrowing Package to Send to Voters
The three proposals finalized would pay to maintain roads and bridges, underwrite projects in Maine's public higher education facilities, and fund initiatives to protect the environment from wastewater.
MA House to Consider $666M Economic Development Bill
It is a bond bill, which means the money is borrowed and paid back over time. The House version of the bill, H.4592, like Baker's, would include $300 million for the MassWorks Infrastructure program. The bill would also provide $100 million for projects in coastal communities.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
How WIFIA is surviving the EPA firestorm
Though the loan program was created in 2014 under the Obama Administration, it fits the current administration's model of setting up infrastructure programs that encourage private investment, Kane said. "It transcends the partisanship – or left vs. right perspectives on how each would pay for infrastructure," Kane said.
Bonds Fund Solar Strategy in a CA City
The city of Lakeport will use bond financing to fund a series of solar projects to make the city more energy efficient. The City Council has approved a plan to issue up to $5.25 million in bonds to pay for improvements at city buildings and treatment plants.
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.
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CDFA Spotlight |
2018 CDFA Original Research - Conduit Bond Fee Study
With the help of the Minnesota Department of Employment and Economic Development and the Florida Development Finance Corporation, this national study will evaluate trends at both the state and local levels to better understand the landscape for PABs and to inform issuers about best practices related to fee structures. Fill out the survey today!
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This Week's Headlines |
Global Investors Find Value in a Small Bank in the Deep South
Next City | Jul. 11 | Access to Capital | Community Development | Economic Development
Fort Smith, AR Expects to Save $9M with New Water, Sewer Bonds
Times Record | Jul. 11 | Infrastructure Finance | Water Finance
Foxconn Breaks Ground on $10B Investment
WEDC | Jul. 11 | Economic Development
IN Receives $54M for Housing and Development
Bradenton Herald | Jul. 11 | Community Development
NJ Film and TV Tax Credit Returns
Variety | Jul. 11 | Tax Credits
New Markets Tax Credit News Briefs – July 2018
Novogradac & Co. | Jul. 11 | Tax Credits
Sparta, WI Selected for Downtown Revitalization Program
WXOW | Jul. 11 | Redevelopment
CDFI Fund Seeks Reviewers for NMTC Applications
CDFI Fund | Jul. 11 | Federal | Tax Credits
Several Ideas, Including RLFs, Proposed to Better Support MI Entrepreneurs
MiBiz | Jul. 10 | Innovation Finance | Revolving Loan Funds (RLFs)
Main Street Community Designation Awarded to Downtown Racine, WI
Racine County Eye | Jul. 10 | Redevelopment | Urban Development
$2M EDA Grant Supports Wellston, MO Business Incubator
St. Louis Post-Dispatch | Jul. 10 | Economic Development
Historic Tax Credits Could Support Boutique Philadelphia Hotel
The Inquirer | Jul. 9 | Tax Credits | Urban Development
DEED Awards $6.28M for Contamination Cleanup Projects
MN DEED | Jul. 9 | Brownfield Financing
Cornell and Solar Developer Form Partnership for $100,000 Pollinator Study
Ithaca Journal | Jul. 9 | Food Systems Finance
FARM BILL: Producers Have High Hopes for Cotton as Legislators Ready for Conference Committee
KCBD | Jul. 9 | Food Systems Finance
Senate candidates stressing farm issues
News Press Now | Jul. 9 | Food Systems Finance
EPA Provides Nearly $70 Million Loan for Omaha Water Infrastructure Upgrades
United States Environmental Protection Agency | Jul. 9 | Food Systems Finance
Belle Michigan Launches $20M Impact Fund
Crain's Detroit Business | Jul. 8 | Access to Capital | Innovation Finance
Gastonia Hopes to Spur Downtown Development with Loans
Gaston Gazette | Jul. 6 | Revolving Loan Funds (RLFs)
Justine Petersen's $8M Fund Makes Loans to Businesses in Poor Neighborhoods
St. Louis Post-Dispatch | Jul. 6 | Access to Capital | Tax Credits
Zero Interest Loans Available for MN Farmers Affected by Flooding
Minnesota Department of Agriculture | Jul. 6 | Access to Capital | Agriculture Finance
PFA Approves Loans for Two MN Projects
MN DEED | Jul. 6 | Infrastructure Finance | Water Finance
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National Sponsor Spotlight |
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NW Financial Group, LLC
NW Financial Group LLC is the premier Financial Advisory / Municipal Underwriting firm in the Northeast whose experienced professionals provide unparalleled expert advice to States, Local Governments and Authorities. The professionals that make up...
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
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Squire Patton Boggs
Squire Patton Boggs has come together to combine the strength, influence and resources of Squire Sanders and Patton Boggs. Their global team of over 1500 lawyers across 44 offices in 21 countries is ready to support their clients – wherever law,...
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Partner Spotlight |
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance intiative that supports entrepreneurship, business investment and job creation.
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New Members |
The City of Westerville - Westerville, OH
Ohio Capital Finance Corporation - Columbus, OH
Delta Institute - Chicago, IL
City of Barberton - Barberton, OH
Sequoian Investments - San Diego, CA
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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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