Development Finance Review Weekly - May 6, 2021
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Spotlight |
CDFA Announces 2021 Class of Caren S. Franzini Fellowship
The Council of Development Finance Agencies is honored to announce the 2021 class of the Caren S. Franzini Fellowship. Join CDFA in congratulating Ashley Jones at Invest Atlanta, Elizabeth Limbrick at the New Jersey Economic Development Authority (NJEDA), Michelle Barnett at the City of Tulsa, and Sima Thakkar at the Raza Development Fund.
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Features |
CDFA Recognizes Carrie Latimer, DFCP
CDFA is pleased to announce Carrie Latimer, Financial Analyst for the Gulf Coast Authority in Texas, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. As a new graduate, Mrs. Latimer joins the ranks of fellow graduates who are recognized as the most qualified leaders in the development finance industry.
Successful Sale of Green and Sustainability Bonds Takes Place in Massachusetts
The State Treasurer's Office officials announced that the Massachusetts Clean Water Trust has completed the sale of approximately $351.4 million in two series of new money Green and Sustainability Bonds. The Sustainability Bonds were the first such issuances from the Trust and the first in the nation for a state revolving fund. It was the Trust's sixth Green Bond issuance.
What Does the Housing Market Boom Mean for Local and State Governments?
Recent data from shows that between April 2020 and April 2021, the median home price increased by an average of 17.2%. This frenzy has led more and more buyers and sellers to question whether this growth is sustainable for the near future. However, this rapid uptick in the housing market comes as a positive trend for local and state governments struggling with some of their revenue streams impaired by COVID-19.
As Infrastructure Talks Continue, Kinder Institute Creates Interactive Infrastructure Map
The Kinder Institute Local and Regional Infrastructure Database contains more than 1,800 planned infrastructure projects identified by surveying local and regional leaders, reviewing capital investment documents, and using other selected sources. This interactive map allows users to explore the data.
CDFA Hosting Free Webinar on Resilience and Recovery Through Energy and Water Finance
Finance programs for energy and water projects are designed to meet community infrastructure needs and support efficient resource use. However, they can also be used to stabilize local economies as the nation copes with a pandemic-induced recession and the aftermath of recent years' natural disasters. This next installment of the CDFA // BNY Mellon Development Finance Webcast Series will discuss how energy and water finance programs can be positioned to address various local challenges simultaneously.
EPA Announces $6.5B in New Funding for Water Infrastructure Projects Through WIFIA
U.S. EPA Administrator Michael S. Regan announced the 2021 notice of funding availability under the agency's Water Infrastructure Finance and Innovation Act (WIFIA) program and state infrastructure financing authority WIFIA (SWIFIA) program. These lending programs accelerate investment in critical water infrastructure through innovative and flexible financing that can support a wide range of projects in both large and small communities.
Sens. Hoeven, Wyden Introduce Infrastructure Legislation That Includes Bonds, Tax Credits
Sen. John Hoeven (R-ND) and Sen. Ron Wyden (D-OR) this week reintroduced the Move America Act to bring billions of dollars to grow and repair infrastructure through an expansion of private activity bonds and the creation of an infrastructure tax credit. S. 1403 would allocate Move America Bonds to states, based on population size.
Closing the Racial Wealth Gap Through Community Ownership of Shopping Centers
In March 2020, it became clear to Chicago real estate investor and economic development proponent, Lyneir Richardson, that there was an urgent need to find new ways to close the racial wealth gap. He expanded Chicago TREND Corp. to provide small business advisory services, development advisory services that boost real estate development projects in minority neighborhoods, and shopping center acquisition, done in partnership with Black entrepreneurs and community members.
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Upcoming Events |
Intro Revolving Loan Fund WebCourse
June 23-24, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Revolving Loan Fund Course offers an in-depth look at RLF program development, implementation, and management. This course demonstrates how an RLF program can complement your economic development strategy, encourage investment, and assist traditionally underserved businesses. During this course, attendees learn the essential elements needed to operate a successful RLF program and discuss programs making a difference in communities throughout the country.
CDFA Virtual Summer School
August 2-12, 2021 - Daily: 12:00 PM - 5:00 PM Eastern
CDFA Virtual Summer School is a two-week-long series of courses presented by the CDFA Training Institute. These courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for up to four courses during CDFA Virtual Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program.
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News from |
The latest municipal finance headlines from The Bond Buyer.
Miami and Miami-Dade Dip Toes into Bitcoin, Cryptocurrencies
Two big south Florida governments are dipping their toes into the waters of cryptocurrency. Miami and Miami-Dade County officials believe cryptocurrencies like Bitcoin can make local government work faster and more efficiently while at the same time establishing their municipalities as tech-forward innovation hubs.
U.S. Keeps Quarterly Bond Sale at High, Warns on Debt Limit
The U.S. Treasury kept its quarterly auction of long-term debt, planned for next week, at a record size to help fund the government's continuing wave of stimulus spending. It's the first time in more than a year that the so-called quarterly refunding total hasn't risen, suggesting that financing needs have peaked.
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 SSBCI Briefing
Friday, May 7, 2021 - 1:00 PM - 2:00 PM Eastern
CDFA Federal Financing Webinar Series: Federal Programs for Affordable Housing Investment
Tuesday, May 11, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts will cover how development finance agencies can leverage financing from the federal government to support housing projects in their communities.
CDFA // BNY Mellon Development Finance Webcast Series: Preserving Local Economies with Energy & Water Finance
Tuesday, May 18, 2021 - 2:00 PM - 3:00 PM Eastern
Join CDFA for this next installment of the CDFA // BNY Mellon Development Finance Webcast Series for a discussion about how energy and water finance programs can be positioned to address various local challenges simultaneously.
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Job & RFP Postings |
Invest Atlanta Hiring Staff Accountant
The Staff Accountant is responsible for applying accounting principles and procedures to analyze financial information, preparing accurate and timely reports and statements in accordance with GAAP, and ensuring appropriate accounting control procedures are being adhered to across the Invest Atlanta organization.
County of Summit, OH Hiring Director of Community and Economic Development
The County of Summit, Ohio is hiring a Director of Community and Economic Development who will oversee the County's Division of Economic Development, Division of Community Development, and Division of GIS and Planning. The Director will be responsible for leading a small, dedicated team of individuals in responding to the needs of existing small, medium, and large businesses in Summit County, while also working to attract new businesses to the County.
State of New Mexico Hiring an Economic and Energy Diversification Coordinator
The Economic & Energy Diversification Coordinator is responsible for recruiting and supporting renewable energy companies in New Mexico, providing technical support and educational training to renewable energy companies in New Mexico, facilitating degree and apprenticeship programs in the energy sector, and supporting legislation that will help in these activities.
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This Week's Headlines |
Brookhaven, NY IDA & LDC Close 8 Projects in 2020 with $352M Invested, 3,042 Jobs Created/Retained
NY Real Estate Journal | May. 5 | Bond Finance | Community Development | Economic Development | Housing Finance
DOE Launches Initiatives to Accelerate Solar Deployment in Underserved Communities
U.S. Department of Energy | May. 5 | Energy Finance | Federal | Green Finance | Innovation Finance | Social Finance | U.S. Dept. of Energy (DOE)
Hofstra University Secures Bond to Build New Science and Innovation Center
Patch | May. 5 | Bond Finance | Education
HUD Makes More Than $20M Available to Fight Housing Discrimination
HUD | May. 5 | Federal | Housing Finance | Social Finance | U.S. Dept. of Housing & Urban Development (HUD)
Jacksonville, FL Port Authority Gets ‘A,' Stable Revenue Bond Rating
Jacksonville Daily Record | May. 5 | Bond Finance | Infrastructure Finance | International | Water Finance
Lexington, KY Investment Board Approves $39M in Bonds for Hotel Project
WTVQ | May. 5 | Bond Finance | Community Development
More Than 400 Communities are Now Solar Energy-Ready
NACo | May. 5 | Community Development | Energy Finance | Green Finance | Infrastructure Finance
Voters in Muskogee County, OK Asked to Support Industrial Development Bond Initiative
Muskogee Phoenix | May. 5 | Bond Finance
CFFA Supports Marker's Weinland Park Investment in Columbus, OH
Columbus-Franklin County Finance Authority | May. 3 | Bond Finance | Housing Finance | Member News | Redevelopment | Urban Development
North Dakota and South Dakota Legislatures Make Funding Ag Infrastructure a Priority
Ag Week | May. 3 | Agriculture Finance | Infrastructure Finance | Rural Development | State Finance Program
First Tenants Move Into Pierce-Arrow Lofts at Previous Brownfield Site in Buffalo, NY
The Buffalo News | Apr. 30 | Brownfield Financing | Economic Development | Historic Preservation | Housing Finance | Redevelopment | State Finance Program | Tax Credits | Case Studies | Case Studies | Brownfield Tax Credits | Federal Historic Rehab Tax Credits | State Historic Tax Credits
Kansas State University Hazardous Substance Research Program Gets $5M from EPA
The Mercury | Apr. 30 | Brownfield Financing | U.S. Environmental Protection Agency (EPA)
Two Multi-Million Dollar Housing Developments Planned for Benton Harbor, MI
ABC 57 | Apr. 30 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment | Case Studies
City of Gloversville, NY to Tackle Brownfield Areas and Projects
The Leader-Herald | Apr. 29 | Brownfield Financing | Local Finance Program | Rural Development
Small Businesses, Farms Eligible for Energy Audits
Press Herald | Apr. 29 | Access to Capital | Agriculture Finance | Energy Finance | Food Systems Finance | Local Finance Program
West Virginia University Brownfields Team Earns $1M from EPA to Revamp Blighted Sites
EurekAlert! | Apr. 29 | Brownfield Financing | Education | Redevelopment | Rural Development | U.S. Environmental Protection Agency (EPA) | Case Studies | EPA Clean-Up Grants
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New Additions to the Online Resource Database |
Resilience in New Mexico Agriculture Strategic Plan
Access to Capital | Agriculture Finance | Bond Finance | Food Systems Finance | Resiliency | Rural Development | Tax Credits | Water Finance
The Resilience in New Mexico Agriculture Strategic Plan provides broad recommendations are coupled with specific, actionable strategies. The implementation of this plan is critical to achieving greater agricultural and natural resource resiliency, as well as a secure future for the generations of farmers and ranchers to come.
American Rescue Plan Act - Local Relief Frequently Asked Questions
Community Development | Disaster Recovery & Relief | Economic Development | Local Finance Program | Resiliency | Rural Development | Urban Development | Access to Capital
After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the Coronavirus Local Fiscal Recovery Fund grants, and has provided answers based on available information to help cities prepare while Treasury develops official guidance.
How Broad are State Sales Tax Bases?
Economic Development | Infrastructure Finance | State Finance Program | Tax Credits
This chartbook compares the breadth of general sales and excise tax bases across the states. It categorizes detailed personal consumption expenditures (as measured in the Bureau of Economic Analysis National Income and Products Accounts) by their tax treatment in each state and the District of Columbia. It was authored by the Tax Policy Center at the Brookings Institute and Urban Institute.
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National Sponsor Spotlight |
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CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...
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FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
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Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company that has $168 billion in assets and operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. With nearly 160 years of...
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CDFA Bookstore |
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New Members |
City of Monona - Monona, WI
Forked Pine Consulting, LLC - Lyons, CO
Kentucky Cabinet for Economic Development - Frankfort, KY
North Dakota Department of Commerce - Bismarck, ND
Great Northern Development Corporation - Wolf Point, MT
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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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