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CDFA Georgia Financing Roundtable Newsletter - November 2016

CDFA Georgia Financing Roundtable Newsletter - November 2016
November 30, 2016
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CDFA Georgia Financing Roundtable Newsletter

Feature

Tax Credits Offer Hope for Rural Hospitals
The Rural Healthcare Tax Credit, which begins in January 2017, allows individuals and corporations to donate to hospitals deemed Georgia's most vulnerable by the Department of Community Health. Total donations allowed under the tax credit in 2017 are $50 million. In 2018, that jumps to $60 million in tax credits. In 2019, $70 million in tax credits will be available. Every person or company that donates can see up to 70 percent of that money returned as a tax credit.

Winder Getting $9M for City Water System Project
The City of Winder is getting a $9 million low-interest loan from the Georgia Environmental Finance Authority for improvements to it water system. Winder is one of twelve Georgia communities awarded financing totaling $26.1 million for water, sewer, wastewater and solid waste infrastructure improvements by the Georgia Environmental Finance Authority board of directors.

Georgia Webinar: Utilizing Community Improvement Districts in the Peach State
Expert panelists explored the prevalence of Community Improvement Districts projects in Georgia and how they are being used to finance revitalization in communities all of sizes during this webinar.

SPLOST Referendum on Ballot for Douglas County
There are three issues on the ballot for the general election that concern Villa Rica residents: a SPLOST referendum for Douglas County and elections for a new mayor and new Ward 4 council member. The Special Local Option Sales Tax question will determine what kinds of capital improvements will be made over the next six years in the Douglas County section of the city, an area that is expected to see a surge in growth over the next decade.

Budget For City of Temple Tackles a $332K Water Fund Deficit
The new budget for the City of Temple projects a $332,000 deficit in the town's water and sewer fund, an impact that will worsen a decline in fund balances, even as the city prepares to write a $4.6 million check in four years to pay off its wastewater treatment plant. To address the issue, the economic plan for fiscal year 2017 envisions raising fees for using the city utilities, while setting aside $623,000 to keep the city within the terms of the bond that is paying for the plant -- a loan that is to be paid off with a balloon payment due Jan. 1, 2021.

Newton County's Five Municipalities Negotiate for Bigger SPLOST Cut
The mayors of Newton County's five municipalities negotiated for a bigger cut of potential 2017 Special Purpose Local Options Sales Tax (SPLOST) money during a work session with the Newton County Board of Commissioners (BOC). The SPLOST, which will go on the ballot for a March 17 vote, is anticipated to bring in $900,000 a month, or $64,800,000 throughout the 72-month period.

Suwanee Approves Funds to Design New Sidewalks
The Suwanee City Council voted to execute a contract with Clark Patterson Lee for the design of sidewalks between George Pierce Park and Ruby Forest. The $17,270 contract is part of the Pedestrian and Bicycle Plan.

Clemson Organic Peach Research Bags $1M USDA Grant
More Southeastern peaches will be grown organically thanks to a $1 million federal grant awarded to Clemson University. Clemson University pomologist Juan Carlos Melgar and pathologist Guido Schnabel are tying paper bags on peaches as they grow on trees, an unconventional method of protecting them from insects and disease while reducing reliance on pesticides.

Filming Industry Continues to Grow in GA with a Tax Credit
The boom in the motion-picture industry in Coweta and other parts of Georgia is showing no signs of slowing, according to the state's chief film recruiter. In order to regain a competitive stance with other states, Gov. Sonny Perdue signed the 2008 Entertainment Industry Investment Act into law. Companies receive a 30 percent tax credit for projects filmed in Georgia. Ten percent of the 30 percent is acquired only if the Georgia promotion logo is shown in the qualified project.

Tax Credit Giving Historic Hotel Clermont Hope for New Life
The Hotel Clermont's renovation has been in question for several years due to the multi million dollar cost of refurbishment. Last year, the Georgia General Assembly passed House Bill 308, raising the maximum tax credit allowance for historic structures from $300,000 annually to $5 million. The change finally gave the iconic Hotel Clermont a hope for new life.

Upcoming Events

Intro Brownfields Finance WebCourse
December 14-15, 2016 - Daily: 12-5pm Eastern
The Intro Brownfields Finance Course is the industry's only comprehensive training curriculum that helps economic developers, policy makers and real estate professionals understand and master the financing strategies for the lifecycle of a brownfield property. During this course, attendees will walk through the entire brownfields redevelopment process from understanding the basics of brownfields and legal and regulatory challenges to unearthing the myriad financing tools available to both clean-up and build-up these contaminated or polluted sites.

Georgia News

DDA OKs Facade Grant for Levy Building
Rome News-Tribune | Nov. 11 | Community Development | Economic Development | Incentives | Urban Development

SPLOST Narrowly Approved in Douglas County
Douglas County Sentinel | Nov. 9 | Community Development | Infrastructure Finance

Atlanta Watershed Management Announces Stormwater Repair Projects
Atlanta Journal-Constitution | Nov. 3 | Infrastructure Finance

Arthur Cohen Presented Prestigious CDFA Lifetime Achievement Award
CDFA | Nov. 3 | Member News

JDA Agrees to $85M in New Bonds for Baxalta
Newton Citizen | Nov. 1 | Bond Finance


Sponsors

Venue Sponsor

Seyfarth Shaw LLP

Conference Premium Sponsor

Baker Tilly Virchow Krause Development Authority of Fulton County

Conference Supporting Sponsor

Development Authority of Clayton County Federal Home Loan Bank of Atlanta KPM Financial

For information about sponsoring the CDFA Georgia Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


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


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