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CDFA Bond Finance Update - December 20, 2022

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Bond Finance Update
December 20, 2022
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CDFA Bond Finance Update

Features

CDFA Food Systems Finance Best Practices Guidebook, Available Now!
Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems Finance Best Practices Guidebook defines how traditional development finance tools can be used to launch and expand food and agricultural-related businesses and projects and create successful food systems finance programs at the local and regional levels.

$36M Tax-Exempt Bond Issued for Massachusetts School
MassDevelopment has issued a $36 million tax-exempt bond on behalf of The Park School, a nonprofit, coeducational day school for grades pre-K through eight, which will use a portion of bond proceeds to fund several capital projects on its campus at 171 Goddard Ave.

Announcing the Return of CDFA's Fundamentals of Economic Development Finance Course
CDFA is proud to kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 25-26, 2023! This course will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.

Washington Governor Proposes $4B Bond to Assist Homeless, Build Housing
Washington Governor Jay Inslee unveiled a two-year state budget plan that would put more money toward expanding behavioral health services and reducing homelessness. On top of the spending blueprint, Inslee is proposing a $4 billion bond measure that would provide money to catalyze the building of thousands of new affordable housing units in the next six years.

Trussville Council in Alabama Approves Bond Sale for Civic Center, Fire Station Project
The Trussville City Council approved the adoption of an ordinance respecting the issuance by The Public Building Authority (PBA) of its $7,700,000 Lease Revenue Bonds (Civic Center Annex Project) and its $9,225,000 Lease Revenue Bonds (Fire Station Project) during a special called meeting Thursday, Dec. 8.

7 Idaho Companies Receive USDA Loans to Help Expand Services, Create Jobs
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that the department has allocated $981 million for 242 projects to help create new and improved market opportunities and expanded essential services for rural communities and businesses across the country, The funding will help keep resources and wealth in rural communities through affordable financing and technical assistance, allowing rural businesses to begin and expand.

DOT Announces $48.2M for Rural Highway Safety Project in Nicollet County, MN
The U.S. Department of Transportation (DOT) announced that its Build America Bureau has provided a low-interest loan of up to $48.2 million to the Minnesota Department of Transportation and Minnesota Management and Budget. Funding will be used to reconstruct 12 miles of Highway 14 to a four-lane, divided highway from the City of New Ulm to the City of Nicollet, bypassing the City of Courtland – helping to improve safety on a critical rural highway.

New York Voters Approve $4.2B Environmental Bond Measure
Voters across New York state approved a $4.2 billion environmental bond measure during last week's midterm elections that is intended to bolster climate mitigation and land preservation projects. Known as the Clean Water, Clean Air, and Green Jobs Environmental Bond Act, the funding for the bill comes from general obligation bonds, or a type of municipal debt security that allows the state to borrow money to invest in capital projects. 

Market Reports

Weekly Market Outlook
Moody's Analytics | Dec. 12 | Bond Finance | Market Reports

Capital Market Insights
Wye River Group | Dec. 12 | Bond Finance | Market Reports

Upcoming Events
Fundamentals of Economic Development Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: Financing Approaches to Meet Affordable Housing Needs
Tuesday, December 20, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of housing finance experts will discuss the tools, programs, and strategies that can be used to meet local demand for affordable housing options.

SSBCI Learning Series - Compliance: Program Reporting Requirements
February 16, 2023 - 2:00 - 4:00 PM Eastern
During the 2023 SSBCI Learning Series, CDFA will elevate conversations and host sessions geared toward successfully implementing new SSBCI programs and financial products, reaching targeted small businesses and business sectors, and effective program reporting and compliance strategies.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Pennsylvania Pricing $1.9B PABs for P3 Bridge Program
Pennsylvania is coming to market Tuesday with what's considered the largest private activity bonds surface transportation allocation to date as part of a high-profile public-private program to rebuild bridges across the commonwealth.

PR Board Gets Another Extension on PREPA Deal, Argues Negotiations Progressing
Hope for a Puerto Rico Electric Power Authority deal rose as the bankruptcy judge granted the Oversight Board an additional five days to submit a plan of adjustment for the authority, following a deal negotiated with fuel line lenders the board says will entice other parties to come to the table.

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

Madison County, AR to Collect Tax, Issue Bonds for New Jail
Arkansas Democrat Gazette | Dec. 19 | Bond Finance

Citizens Bond Committee of Arlington, TX Presents $213.3M in Proposed Projects
City of Arlington | Dec. 14 | Bond Finance

Omaha, NE City Council Approves $440M Worth of Bonds for Streetcar
3 News Now | Dec. 13 | Bond Finance | Economic Development | Redevelopment | Tax Increment Finance (TIF)

California Earthquake Authority Gets $305M of Quake Reinsurance
Artemis | Dec. 13 | Bond Finance | Disaster Recovery & Relief

$300K Available to Support Success of Pennsylvania Farms
Pennsylvania Pressroom | Dec. 13 | Access to Capital | Agriculture Finance | Bond Finance | Tax Credits

Price of Canton, OH City Schools Restructuring Proposal Jumps
CantonRep.com | Dec. 12 | Bond Finance

Bonds for Schools Win in Growing North Carolina Communities
EdNC | Dec. 12 | Bond Finance | Education | Infrastructure Finance

Apollo Sells $1.8B Bond Backed by Concord Music Royalties
Yahoo finance | Dec. 12 | Bond Finance

Board in Texas Votes to Issue Plaza Project Bonds
Texarkana Gazette | Dec. 12 | Bond Finance | Infrastructure Finance

Voters Approve Borrowing $11.6M to Upgrade Eldred Schools, Sports Facilities And Grounds
River Reporter | Dec. 12 | Bond Finance | Infrastructure Finance

Southern California Development Secures $25.8M in LIHTC Financing
Affordable Housing Finance | Dec. 7 | Bond Finance | Housing Finance | Tax Credits

Indianapolis, IN Considering Additional $25M for Pan Am Plaza Project
Inside Indiana Business | Dec. 7 | Bond Finance | Redevelopment | Tax Increment Finance (TIF)

Developers Secure $317M to Complete Crossings at Brick Church Station in East Orange, NJ
New York Yimby | Dec. 4 | Bond Finance | Community Development | Economic Development | Housing Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | Tax Credits

Green Bond to Save Customers $300M While Helping to Strengthen Electric Grid, Protect California Forests
businesswire | Nov. 30 | Bond Finance | Green Finance | Resiliency

Nampa, ID Will Seek $210.2M Bond to Address Aging Facilities
IDEDNEWS.org | Nov. 29 | Bond Finance | Infrastructure Finance


Highlights from the Online Resource Database

CDFA Food Systems Finance Best Practices Guidebook
Access to Capital | Agriculture Finance | Bond Finance | CDFA Original Research | Community Development | Development Finance Toolbox | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance | Special Assessment Districts | Tax Credits | Tax Increment Finance (TIF)
Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems Finance Best Practices Guidebook defines how traditional development finance tools can be used to launch and expand food and agricultural-related businesses and projects, and create successful food systems finance programs at the local and regional levels.


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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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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