The Opportunity Zones (OZ) incentive has been part of the federal tax code for less than a year, but early participants are setting the groundwork to facilitate and make Qualified Opportunity Fund investments in distressed communities. 

Aside from big company incentives (e.g., Amazon and Foxconn), state legislatures simply do not have the resources to introduce new tax credit programs. Despite the lull, September did see the enactment of four new tax credits: one each in Maine and Massachusetts, and two in the District of Columbia.

ProMedica is preparing a blockbuster $1.45 billion debt offering this autumn to continue hospital and facility expansion as well as repay a bridge loan from Barclays that partially financed the purchase of HCR ManorCare earlier this year.

The Colorado Treasurer's Office announced that it has issued $545 million in certificates of participation to be used for state capital construction and transportation projects. The bonding was called for under SB267, a measure approved by the Colorado Legislature last year to issue up to $2 billion to pay for various projects.

More than $45 million in tax credits, allocated by the National New Markets Fund, The Innovative Fund, Dakotas America, and SunTrust Community Capital, will go toward funding a 250,000-square-foot, $200 million expansion of Swiss Krono's plant in Barnwell, South Carolina. 

The WIFIA program is getting ready to host another round of information sessions—both in-person and via webinar-- over the next few months. For each session, WIFIA staff will be available for 30-minute individual meetings to learn more about your project and answer specific questions.

39 programs funded by the USDA are in limbo after the Farm Bill expired. Notable programs affected include the Rural Microentreprenuer Assistance program, Agricultural Product Market Development Grants, and the Small Watershed Rehabilitation program.

Rep. Mark Meadows (R-NC) introduced H.R. 6890, the Creating Advancement and Personal Improvement in Targeted American Localities (CAPITAL) Act of 2018.  H.R. 6890, would allow for the designation of new opportunity zones every 10 years, allowing the policy's benefits to build and compound rather than expire.

Governor Andrew Cuomo has announced the designation of two new Brownfield Opportunity Areas in Dunkirk and Jamestown. The designations cover more than 1,200 acres of neglected, dormant and blighted properties in the two communities and help the localities implement revitalization strategies to spur economic growth.

Congress passed a bill with disaster aid and a five-year reauthorization of the FAA that would provide airport authorities with new flexibility without increasing their funding. The legislation also includes disaster recovery reform measures that gives local governments more leeway to spend federal disaster aid on pre-disaster planning and mitigation.

The Protecting Family and Small Business Tax Cuts Act of 2018 passed the House 220 to 191 on September 28. The legislation also would make permanent the $10,000 cap on the federal SALT deduction, and make permanent the lower individual tax rates that are scheduled to expire at the end of 2025. No bond provisions are included in the bill.

In this webinar, CDFA will convene experts on the EDA, as well as current and past recipients of EDA programming, to discuss the agency's offering of programs and initiatives. Notable programs that CDFA will highlight includes the Revolving Loan Fund Program, the Public Works Program, and the Planning Program.

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