CDFA National Summit Call for Submissions
CDFA is accepting sessions submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.
Reinvestment Fund Issues $50M in Impact Investment Bonds
Reinvestment Fund, an S&P AA rated CDFI, announced the pricing of $50 million in general obligation bonds. Proceeds from the Impact Investment bonds will support small businesses, grocery stores, and childcare centers in struggling communities, helping to bring much needed jobs and boost local economic growth.
3 Ways Muni Bonds Could Benefit from Trump Tax Plan
Although few substantive details of the White House tax plan have been released, John R. Mousseau of Cumberland Advisors outlines 3 ways municipal bonds may benefit from tax reform based on what we know now.
CO's Proposed Solution to Old Coal Facilities? Bonds.
Colorado may have found an interesting solution to the stranded assets that are relics of the transition to clean energy. Two Democratic lawmakers have proposed measures that would create ratepayer-backed, AAA rated, commercial bonds. These securities would be used by utilities to refinance retiring coal plants, of which there are many.
Trump Tax Plan Worries Muni Groups
The Trump Administration has released the first outline of their tax reform plans, which has both municipal issuers and supporters worried. No mention of the municipal interest exemption is mentioned in the outline, but the cost of reform has groups concerned that the exemption may be on the chopping block.
Funding of Infrastructure: Framing the Issues
George Friedlander of Court Street Group Research outlines in a report the major issues confronting infrastructure projects nationally, and how they can be overcome. Many of Friedlander's suggestions echo suggestions made by CDFA in our Administrative Transition Paper and 2017 Policy Agenda.
MN Foundations Invest $17M in Affordable Housing and Small Business Bond
The McKnight and Bush foundations and the Otto Bremer Trust, along with other Minnesota foundations, are collaborating to back the Access Capital Community Investment Fund. The collaboration could top $20 million as at least eight other foundations complete their reviews.
New SC JEDA Bonds Finance, Refinance Expansion of Tidelands Health
Tidelands Health is using a $122.94 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to finance new facilities and refund bonds used for previous expansion.
State and Local Groups Urge Congressional Action on HQLA Bills
Municipal issuer groups are urging members in both chambers of Congress to support legislation that they say would help the economy and infrastructure by including investment-grade, liquid municipal securities as high-quality liquid assets under banking regulations.
Costs Push Seattle Arena Bidders to Opposite Tactics
Instead of asking for new tax money or redirecting current tax revenues, a developer bidding to rebuild KeyArena seeks to use the municipality's ability to borrow money more cheaply than the rate for private borrowers from commercial lenders.
Bipartisan Support Grows for Carbon Capture PABs
The Carbon Capture Improvement Act, introduced by Sen. Rob Portman (R-OH) and Michael Bennet (D-CO), would authorize states to use private activity bonds to help finance carbon capture equipment. A companion bill was introduced in the House by Rep. Carlos Curbelo (R-FL) and Marc Veasey (D-TX).
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