Development Finance Review Weekly - September 5, 2019

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Feature

PAB Fees Nearly Universal Among Conduit Issuers

The newly-released CDFA Conduit Bond Fee Study found that fees are nearly universal among conduit bond issuers that work with hospitals, non-profit institutions, colleges and multi-housing developers to finance their projects with tax-exempt private activity bonds.

CDFI Fund Opens CY 2019 Round of New Markets Tax Credit Program

The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2019 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2019 round.

Commerce Seeks Public Input on Aligning Programs with Opportunity Zones

The Department of Commerce is seeking public input on aligning federal economic development programs to facilitate investment in qualified Opportunity Zones. The RFI notice is available in the Federal Register until October 18.

LA Committee Mulls Public-Private Partnerships for Rural Broadband

The recently-created Louisiana Broadband High-Speed Internet Service Task Force listened to community members discuss allowing municipalities and electricity providers to partner with private companies. Speakers during the hearing included an applicant for the USDA's new ReConnect program.

A Greenhouse Large Enough to Feed the Eastern Seaboard

Next summer, when AppHarvest begins production at its $97 million building, 285 employees will start shipping 45 million pounds of fresh produce annually, primarily tomatoes, to grocery stores from Atlanta to New York, and as far west as Chicago and St. Louis. The 60-acre, 2.76-million-square-foot building will be big enough to lower costs on materials, production, and distribution.

SC JEDA Bonds to Finance Charter School

Greer Middle College Charter High School is using $4,850,000 in South Carolina JEDA bonds to finance a new multi-purpose facility. The tax-exempt bond issue will finance construction and equipping of a 28,000-square-foot activity center that will include a gym, locker rooms, classrooms, offices, kitchen and dining areas, training and fitness rooms, and a walking track.

$10M Investment into Shiawassee County, MI Creates 80 Jobs

Two development projects in Shiawassee County are expected to create 80 jobs and generate a total capital investment of $10.1 million. The authority received Michigan Strategic Fund approval of a brownfield plan which includes $988,500 in local and school tax capture to support a speculative building development.

Fifth Third Makes History by Powering Up 100% Renewable Solar Facility

Fifth Third Bancorp officially marked the opening of the Aulander Holloman Solar Facility in Hertford County, North Carolina. Built by solar developer SunEnergy1, the facility is expected to generate clean power that is more than or equal to the amount Fifth Third uses in a year, enough to eliminate 143,000 metric tons of greenhouse gases and power 25,000 homes.

HUD Awards $75M to Help End Youth Homelessness

HUD is awarding $75 million to end youth homelessness in 23 local communities across the country, including 8 rural areas. HUD's Youth Homelessness Demonstration Program (YHDP) will help these communities to build local systems and will support a wide range of housing programs including rapid rehousing, permanent supportive housing, transitional housing, and host homes.

Upcoming Events

Intro Opportunity Zones Finance WebCourse

Upcoming Webcasts

CDFA-Bricker PACE Webinar Series: PACE Transactions
September 11, 2019 - 11:00 AM - 1:00 PM Eastern

In this webinar, PACE professionals including legal counsel, PACE administrators, and PACE capital providers explain how transactions form and are shepherded through various stages including concept, design, underwriting, approvals, and closing. Hear about how programs intake projects and what practical considerations apply to programs such as roles of professionals, project administration, closing fees, ongoing collection and debt servicing, and post-closing compliance.

CDFA // BNY Mellon Development Finance Webcast Series: Fill In The Gaps with New Markets Tax Credits
Tuesday, September 17, 2019 - 1:00 PM Eastern

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, learn from expert speakers as they discuss their plans for the recent allocation of New Markets Tax Credits, past projects, and best practices.

Job & RFP Postings

RFP for National Good Food Network Conference

The 2020 National Good Food Network Conference will bring together over 450 practitioners and experts from across the good food value chain to strengthen our collective commitment and develop our professional skills. All session proposals are due Friday, September 27th, 2019 at 11:59 ET.

St. Louis Economic Development Partnership Seeks VP of Business Finance

Responsible for directing and supervising the operations of the Business Finance department, as well as achieving lending objectives, identifying, directing and aligning with strategic economic development in the St. Louis region. Responsibilities include (but are not limited to): administration, public relations, program presentation, strategic planning, program management, loan and risk management, and budgeting.

This Week's Headlines

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New Additions to the Online Resource Database

Housing and Health: A Vision of Housing Security, Health, and Opportunity
Community Development | Housing Finance | Social Finance

This report by the Colorado Health Institute discusses how housing affects health. The affordability, stability, quality, and accessibility of housing all play a role in individuals' and communities' health. The connection is clear, but it's a complicated undertaking to build a system that addresses needs and inequities in both housing and health.

>>> SEARCH ONLINE RESOURCE DATABASE

National Sponsor Spotlight

	Bricker & Eckler LLP Bricker & Eckler LLP, is one of Ohio's leading law firms, representing corporations, nonprofit organizations, government agencies, health care facilities, school districts, and municipalities, as well as individuals.
	Bryan Cave Leighton Paisner LLP Formed by the combination of Bryan Cave and Berwin Leighton Paisner, global law firm Bryan Cave Leighton Paisner LLP is purposely structured in a way few other law firms are, as a fully integrated international team that provides clients with clear,...
	Business Oregon Business Oregon works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic opportunities for Oregon companies and...

Partner Spotlight

Institute of Economic Development (IED) - United Kingdom

The Institute of Economic Development (IED) is the UK's leading independent professional body representing economic development and regeneration practitioners. Established over 30 years ago, the IED's key objective is to represent the interests of...

CDFA Bookstore

Tax Credit Finance Reference Guide

The Tax Credit Finance Reference Guide provides an exploratory overview of how communities can use tax credit finance programs, such as New Markets Tax Credits, Low-Income Housing Tax Credits, or Historic Rehabilitation Tax Credits, to support economic growth. Written in conjunction with Ice Miller LLP, this guide examines how to effectively apply tax credits to development opportunities, and explains the basics of tax credits and the fundamentals of using these tools. In addition, the guide walks through the pros and cons of using tax credits along with the guidelines for completing due diligence, performance monitoring, and benchmarking success. This comprehensive Reference Guide discusses in detail the primary tax credits available at the federal level, along with certain state tax credit programs, and includes numerous case studies of successful tax credit projects.

New Members

City of Easton, PA - Easton, PA

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.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net