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CDFA Bond Finance Update - May 2, 2017

Bond Finance Update
May 2, 2017
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CDFA Bond Finance Update

Features

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).

Market Reports

KPM Weekly Rate Update
KPM Financial | May. 2 | Bond Finance | Bond Finance\Market Reports

Municipal Market Snapshot
Hutchinson, Shockey, Erley & Co. | May. 2 | Bond Finance | Bond Finance\Market Reports

Upcoming Events
Intro Bond Finance Course

Intro Tax Increment Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

MSRB to Mull MA Impact Analysis, Critical Comments at Meeting
MSRB members meeting next week will discuss the framework for an analysis of the costs and burdens of rules affecting municipal advisors as well as recent critical comments on a number of proposals. At its quarterly meeting scheduled for April 26 and 27, the MSRB also will review its rules relating to primary offering practices and discuss current initiatives to add data and market tools to its EMMA system.

Infrastructure Funding Confusion Muddies Debate: Friedlander
The effort to determine how to pay for the restoration of America's crumbling roads and bridges is being hindered by the failure of policymakers to distinguish between the funding and the financing of infrastructure projects, according to veteran municipal market strategist George Friedlander.

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.

Bond Finance Headlines

New JEDA Bonds Refinance Expansion at Wesley Commons in SC
SC JEDA | May. 2 | Bond Finance

THDA Using LIHTCs and Multifamily Bond Programs to Impact TN
The Chattanoogan | May. 2 | Tax Credits | Bond Finance | Tax Credits\Low Income Housing Tax Credits (LIHTCs)

Castle Rock, CO Council Approves Tax Deal to Finance $300M Landfill Redevelopment
Denver Post | May. 1 | Bond Finance | Brownfield Financing

VEDA Approves $57.4M in Financing for Economic Dvelopment
VTDigger | Apr. 27 | Bond Finance

In KC, Brookridge Redevelopment to Utilize TIF and Bonds
Kansas City Business Journal | Apr. 26 | Bond Finance | Tax Increment Finance (TIF) | Redevelopment | Incentives

LA Fighting to Maintain Bond Rating
Daily Comet | Apr. 24 | Bond Finance | Legislative

Revenue Bonds to Finance Kansas University Infrastructure Improvements
Lawrence Journal-World | Apr. 24 | Infrastructure Finance | Bond Finance

Spartanburg County Council Considering Several Economic Development Projects
GoUpstate | Apr. 21 | Economic Development | Bond Finance



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 visit CDFA.net or email info@cdfa.net

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.


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


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