Development Finance Review Weekly - April 22, 2021

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Spotlight

CDFA Closed April 30, 2021 for Annual Administrative Day

Please note that the CDFA office will be closed on April 30, 2021 for our annual Administrative Day. Staff will be unavailable to respond to emails, phone calls, or attend meetings on this day. We will return on May 3, 2021 for regular business.

Features

Watch "Financing Tools for Broadband Projects" from the CDFA TV Finance Toolbox Series

As part of the Broadband Financing Series provided by Ice Miller LLP, the "Financing Tools for Broadband Projects" video installment provides an overview of various approaches that communities are using to expand their broadband access and discusses how to identify the best approach for closing the gap in a specific community.

Washington State House Concurs on TIF for Jobs Bill; Bill Heads to Governor for Signature

The Washington State House concurred on the TIF for Jobs bill, ESHB 1189, which was passed by the State House on March 3, and passed by the Senate on April 5 by a vote of 45-2. The House voted 68-30 to concur with the Senate's version of the bill. The bill will be on its way to the Governor shortly.

Tracked Qualified Opportunity Fund Investment Grows $1B Since End of 2020

Qualified opportunity funds (QOFs) tracked by Novogradac reported an increase of more than $1 billion in investment since the end of 2020. QOFs tracked by Novogradac reported an equity raise of $16.34 billion for investment in opportunity zones (OZs) as of April 12, up from $15.16 billion reported at the end of 2020.

For Kent Hiteshew, Fed Muni Backstop Sent Crucial Message

Kent Hiteshew is no stranger to the municipal market. In 2020, he helped the Federal Reserve put together the $500 billion Municipal Liquidity Facility. While the entity didn't make a lot of emergency loans, it did restore equilibrium after the pandemic shattered investor confidence.

Proposed Legislation by Cantwell, DelBene Would Build Millions of New Affordable Housing Units

U.S. Sen. Maria Cantwell and U.S. Rep. Suzan DelBene have introduced legislation to increase investment in affordable housing, build tens of thousands of new affordable units around the state, and provide more resources and stronger protections for at-risk groups. The bill would increase the amount of LIHTC credits allocated to each state and increase the number of affordable housing projects that can be built using private activity bonds.

Gwinnett County, GA to Spend $125M to Bring Sewer to Rowen Project Area

Gwinnett County commissioners agreed to spend $125 million to expand sewer service to the eastern part of the county, where a planned research community is being built. The plan will bring sewer to Rowen, the 2,000-acre "knowledge community" that county commissioners announced last year. The research and innovation development, funded with $67.7 million in bonds, will focus on agriculture, medicine, and the environment.

Oracle Submits Plans for $1.2B Investment Into New Nashville, TN Hub, Creating 8.5k Jobs

Oracle has announced plans to invest $1.2 billion into a new hub in Nashville. If approved, the company plans to create 8,500 new jobs in the area by 2031 with an average yearly salary of $110,000. The mayor's announcement also said Oracle will bring a potential capital investment that includes $175 million in public infrastructure.

Federal Transit Administration Awards $187M to Four Bus Rapid Transit Infrastructure Projects

The U.S. Department of Transportation announced $187 million in Capital Investment Grants (CIG) through the Federal Transit Administration. The federal funding will be allocated to four Bus Rapid Transit (BRT) infrastructure projects in California, Utah, and Washington State. The CIG Program provides funding for major transit infrastructure capital investments nationwide.

Upcoming Events

Intro Opportunity Zones Finance WebCourse

News from

The latest municipal finance headlines from The Bond Buyer.

New Bills Would Promote Multifamily Housing, Reinstate Advance Refunding

Two bills expanding the use of tax-exempt bond financing have been reintroduced in Congress with a good chance of being incorporated into infrastructure legislation. One three-pronged bill includes restoration of tax-exempt advance refunding, a tripling of the cap on bank-qualified debt, and the reinstatement of Build America Bonds under another name. The other has several provisions for expanding the use of tax-exempt Private Activity Bonds for financing multifamily housing.

Southwest's States Prepare to Fund Broadband Expansion

States across the Southwest are preparing to leverage a new wave of federal funding for broadband expansion President Joe Biden wants to provide through his infrastructure proposal. Amid the COVID-19 pandemic, access to high-speed internet is seen as a boon to rural economies, educational outreach, and online business.

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.

Upcoming Webcasts

CDFA SSBCI Briefing
Friday, April 23, 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.

Job & RFP Postings

CDFA is Hiring a Coordinator of Programming

The Council of Development Finance Agencies seeks a motivated, well- organized and energetic individual to fill the position of Coordinator, Programming. This position is critical to the continued success of CDFA's education, advocacy, research, resources and networking efforts. This position is responsible for assisting with CDFA's various events including state conferences, training courses, webinars and the CDFA National Summit.

Appalachian Regional Commission Hiring an Economic Development Program Analyst

ARC seeks a collaborative program analyst to manage Federal grants, provide technical assistance to communities and organizations to develop strategic investments, and implement initiatives in the Region. The grant portfolio primarily focuses on manufacturing sectoral development, economic development (e.g., retention & expansion and attraction), and entrepreneurial ecosystem development.

Invest Atlanta Hiring Public Relations Manager

Invest Atlanta is seeking a professional with five or more years of public relations experience to assist with expanding our outreach to key stakeholders, primarily through the media, executive visibility, content development, events, and other initiatives. The Public Relations Manager will be a key member of Invest Atlanta's Marketing and Communications team.

Colorado Lending Source is Hiring a Loan Officer and Human Resources Generalist

Colorado Lending Source is currently hiring for two positions: a Loan Officer to join our Production Team and a Human Resources Generalist to help us with strengthening our incredible company culture!

Mission West Community Development Partners Hiring Business Development Director

MWCDP is a well-established, rapidly growing, community development and economic development organization with a 25-year history of success. We are located in beautiful northwest Montana. Our mission is to improve the quality of life of all the residents of the region we serve. We work to develop a sustainable local economy in communities which are safe, culturally respectful, environmentally progressive and resilient.

City of Tulsa and Tulsa Industrial Authority Hiring Director to Manage Build Tulsa

The Tulsa Mayor's Office of Economic Development (MOED) and the Tulsa Industrial Authority (TIA) are excited to share this vital role at one of our closest partner agencies, TEDC Creative Capital. This position will work closely with MOED and TIA to manage Build Tulsa, an affordable housing development academy, and coordinate with key stakeholders on the implementation of the City of Tulsa's Affordable Housing Strategy.

Invest Atlanta Hiring Marketing Communication Specialist

Invest Atlanta is seeking a marketing communications professional with three or more years of experience to help us engage businesses, residents, partners, and other key stakeholders in our mission, primarily through content development and distribution, social media, events, and other initiatives.

This Week's Headlines

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CDFA Bookstore

Tax Increment Finance Best Practices Reference Guide 2nd Edition

The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.

New Members

Beaufort County Black Chamber of Commerce - Beaufort, SC

CEI Capital Management LLC - Brunswick, ME

Duane Morris Government Strategies - Pittsburgh, PA

MKSK - Columbus, OH

Natural Eco Capital - Lagos, Lagos

Northwest Regional Planning Commission - Spooner, WI

Peachtree Corners Redevelopment Authority - Peachtree Corners, GA

Southwest Georgia United Empowerment Zone, Inc. - Cordele, GA

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