CDFA has been tracking comprehensive information about the issuance of private activity bonds and volume cap trends throughout the pandemic. Register now for the CDFA Virtual National Summit on November1-5 and tune into our session discussing how states are issuing bonds and allocating volume cap to meet local needs.

San Antonio leaders are preparing a $1.2 billion, five-year bond program to send to voters next spring. The projects the bond program would include haven't been decided yet, but housing, streets, and drainage are all poised to take sizable chunks. But despite this proposal's record size - 41% larger than the 2017 program - it is still dwarfed by both the requests the city has already received and its overall infrastructure needs.

Freddie Mac announced that the company plans to offer at least $3 billion in Single-Family affordable housing bonds. This new bond program will support affordable homeownership and serve historically underserved markets. To underscore this effort, the company will offer approximately $285 million in Uniform Mortgage-Backed Securities™ backed by loans purchased through its Home Possible program.

The U.S. Department of the Treasury's Community Development Financial Institutions Fund announced today the approval of a $100 million guarantee under the fiscal year 2020 round of the Community Development Financial Institutions (CDFI) Bond Guarantee Program. The guarantee will be issued to the Community Reinvestment Fund, USA on behalf of Clearinghouse Community Development Financial Institution.

The Carmel City Council on Oct. 4 unanimously voted to approve $49.5 million in developer-backed bonds to support a transformation of the former Hamilton Crossing retail center into the Republic Airways headquarters, training facility and hotel for employees and guests. The bonds, to be repaid through tax increment financing, will finance two parking garages planned as part of the project.

The City of Asheville successfully issued a series of Water Revenue Bonds on September 30, 2021. In 2018, the City of Asheville took out a $40 Million bank loan to pay for the North Fork Dam improvement project. The Water Revenue Bonds will cover that loan.

Dayton Children's Hospital has received approval to issue as much as $290 million worth of bonds to help finance a new specialty care outpatient center and repay debt. The hospital is constructing a five-story structure on its main Dayton campus that officials say should reduce waiting times and improve specialty care.

A major expansion and renovation of Abbott Northwestern Hospital, announced by Allina Health System just prior to the beginning of the Covid-19 pandemic, is still on the table, and could get an assist in financing from Minneapolis. Finance & Commerce reports that the Minneapolis City Council's business and zoning committee voted to hold a public hearing on issuing municipal bonds to help finance the $200 million project. Discussion is scheduled for Oct. 12.

GREEN Charter Schools is using a $50.25 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to refinance investments in its first two campuses, acquire one of the leased campuses, and open two new facilities. GREEN Charter Schools offer the only schools of their kind in the Southeast that specialize in engineering and renewable energy education.

The Rockingham County delegation voted Monday to bond up to $30 million toward building a new county complex to house the sheriff's office, registry of deeds and county attorney's office. A quorum of the county's 90 state representatives voted 46-3 to approve the project, which will be combined with $25 million of federal American Rescue Plan Act monies to construct the $50 million complex. 

CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years
Tuesday, November 30, 2021 - 2:00 PM - 4:00 PM Eastern

Intro Property Assessed Clean Energy (PACE) Finance WebCourse
December 8-9, 2021 - Daily: 12:00 - 5:00 PM Eastern

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Novogradac conducted an analysis of the private activity bond (PAB) financed by test for low-income housing tax credits (LIHTCs). The analysis determined that lowering the financed by test for PAB test from the current law threshold of 50 percent to 40 percent would "free" nearly $37.5 billion in PAB cap over 2021-30 that could be allocated for more affordable rental housing or other PAB-eligible uses.

The Governmental Accounting Standards Board (GASB) published a Fact Sheet about its proposed Concepts Statement on notes to financial statements. The public comment period for the Revised Exposure Draft ends October 15, 2021.

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