Development Finance Review Weekly - September 1, 2016
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Feature |
What Are the Economic Outcomes from Film Tax Incentives?
Film incentives continue to come under fire, with another study calling into question the economic benefits of these programs. This post reviews the study's results and approach and is part of an occasional series examining reports evaluating state and local economic development incentive programs.
Christie Vetoes Urban Enterprise Zone Extension
Gov. Chris Christie vetoed legislation Wednesday that would have extended the sunset dates for all of New Jersey's urban enterprise zones another 10 years, arguing that the zones are in danger of becoming a "permanent subsidy."
Where — And How Much — Louisville Is Helping Fund Private Projects
This map from a local radio station shows the location and incentive amount of each TIF agreement in place in Louisville. At present, there are 19 tax increment financing agreements in place throughout Louisville, totaling nearly $2.5 billion in developer incentives.
Baltimore Project Would Include Largest TIF District in City History
The proposed $6.9 billion Port Covington development project in Baltimore would include the largest tax increment financing district in the city's history and would be financed in part with $660 million of bonds backed by the increased property tax revenues.
TX County Approves PACE for Redevelopment of Aging Buildings
El Paso County approved a new PACE program. The programs relies on the county to guarantee the provisions and requirements of the program, but does not require any county funding. The loan is put into place as a lien on the land itself, and would be transferred to any new owner.
Amazon Looks for Giant Footprint in PA
Last month, Pennsylvania's Department of Community and Economic Development offered Amazon $5 million from the Pennsylvania First program, $15 million in job-creation tax credits, plus $2.25 million in employee training - so long as Amazon creates 5,000 more jobs over the next three years.
Bias in the Municipal Bond Market
At the start of the 1990s, Orange County, CA made some big bets on an early form of financial derivatives and it lost. It suffered major financial damage and eventually declared bankruptcy. But now the county is looking to borrow once again, and investors are primed to snatch up its new bonds at eye-poppingly high prices.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Piper Jaffray Fined $12,500 Over Primary Market Disclosure Violations
Piper Jaffray & Co. has agreed to pay a $12,500 fine after the Financial Industry Regulatory Authority found it submitted 23 disclosure documents related to primary offerings late to the Municipal Securities Rulemaking Board's EMMA system.
Recount: Denham Wants New Vote on CA Rail Bonds
The chair of a congressional panel looking into California's $64 billion high-speed rail project said it is time for voters to decide whether to rededicate the state bond funding they authorized for it toward alleviating the state's water woes.
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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Upcoming Webcasts |
CDFA // BNY Mellon Webcast Series: Retail as Economy: The Math Behind Financing Retail Development
September 20, 2016 - 1:00 pm Eastern
This month's CDFA // BNY Mellon Development Finance Webcast Series, will explore the retail development market and provide guidance and insight on how best to support this economic development driver. Speakers will cover the market challenges, opportunities and financing resources available to public and private entities for catalyzing retail as economy.
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This Week's Headlines |
Four Firms Pay $1.28M in Bid-Rigging Settlements with WV
The Bond Buyer | Sep. 1 | Bond Finance
PACE Funding Group Expands its Availability in Sacramento and Riverside
PR Newswire | Sep. 1 | Energy Finance | Green Finance
New Loan Guarantees to Assist WI Farmers in Flood Recovery
Wisconsin Ag Connection | Sep. 1 | Agriculture Finance | Disaster Recovery & Relief
New Round of OH Tax Credits to Create $76M in New Payroll
State of Ohio Office of the Governor | Sep. 1 | Incentives | Tax Credits
Fort Wayne Mayor: TIF Is a Key Tool in Moving FW Forward
Waynedale News | Aug. 31 | Tax Increment Finance (TIF)
Japan Antes Up $2M for MD Maglev Study
The Bond Buyer | Aug. 31 | Infrastructure Finance | International
How Stability Gives Citi a Leg Up
The Bond Buyer | Aug. 30 | Bond Finance
August 2016 Tax Credits & Incentives Update
Horwood Marcus & Berk | Aug. 30 | Incentives | State Finance Program | Tax Credits
DOE Awards $20M for Wave and Tidal Energy Projects
U.S. Dept. of Energy | Aug. 30 | Energy Finance | Federal | Green Finance
NCSL Joins List of EB-5 Supporters
IIUSA | Aug. 30 | EB-5 Visa | U.S. Citizenship and Immigration Services (USCIS)
Sandy Springs Preps for Legal Action Against CID and Consultant
The Atlanta Journal-Constitution | Aug. 30 | Infrastructure Finance | Legislative
Film Industry Generates Over $7B in Georgia Economy
Coosa Valley News | Aug. 30 | Economic Development
A Rose by Any Other Name; It's Now Siebert Cisneros Shank
The Bond Buyer | Aug. 29 | Bond Finance
Market Penalty Eases in $549M IL Revenue Bond Sale
Reuters | Aug. 29 | Bond Finance
$7.4B CA Transportation Funding Proposal Introduced
League of California Cites | Aug. 29 | Economic Development | Infrastructure Finance
Direct Supply Awarded $22.5M Tax Credit For Milwaukee Expansion
Wisconsin Public Radio | Aug. 29 | Economic Development | Tax Credits
VEDA Approves $7.8M in Economic Development Financing
Vermont Biz | Aug. 29 | Economic Development | Energy Finance | Infrastructure Finance
The Manageable Challenge of Tax Incentives
GOVERNING | Aug. 26 | Incentives | Tax Credits
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Job & RFP Postings |
Hiring: Director of Education - CDFA
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National Sponsor Spotlight |
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Ballard Spahr LLP
Ballard Spahr is a national firm with more than 500 lawyers in 14 offices in the United States. They provide results-driven counsel and exceptional service in Litigation, Business and Finance, Real Estate, Intellectual Property, and Public Finance.
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Bank of America, Merrill Lynch
Bank of America Corporation is one of the largest financial institutions, serving consumers, small, middle-market, large businesses and governments with a full range of commercial and investment banking, asset management, and other financial and...
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BNY Mellon
BNY Mellon is the world's leading provider of corporate trust and agency services, administering $28.5 trillion in outstanding debt from 69 locations in 39 countries.
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Partner Spotlight |
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informANALYTICS by Center for Governmental Research
The Center for Governmental Research (CGR) is a nonprofit organized under section 501(c)(3) of the Internal Revenue Code. CGR brings expertise to issues spanning economics and public finance, government management, health and human services and...
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CDFA Bookstore |
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New Members |
BWC Consulting, LLC - Greensboro, NC
Regional Economic Growth Initiative - Wisconsin Rapids, WI
Project PLASE - Baltimore, MD
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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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