The U.S. Impact Investing Alliance and the Beeck Center for Social Impact + Innovation have released a framework outlining how Opportunity Fund managers can thoughtfully deploy the capital they raise from investors. Fund managers will be responsible for identifying and tracking OZ investments, and as such will be well placed to collect basic market and impact data. 

Bond financing facilitated by WHEFA will be used to help Black River Memorial Hospital, Inc. finance costs associated with construction and renovation at the hospital. Costs include an urgent care and specialty clinic, surgical and physician facilities, and the remodeling and renovation of several hospital departments.

The Chicago Community Development Commission has unanimously approved a 141-acre TIF district that would encompass the $7 billion megadevelopment. The TIF district could generate as much as $700 million in property tax increments. The proposed megadevelopment is south of downtown Chicago, and includes 62 acres of brownfield space.

How can we best preserve and celebrate our past, while also meeting our communities' needs for economic investment and job creation? One proven way lies with a little-known tax incentive that has been established at the federal level, and now is increasingly making a difference as states incorporate it into their tax codes. 

This year, Community Reinvestment Act (CRA) regulations are in the spotlight, as we are in the early stages of the first significant rewrite since 1995 of the rules that guide how regulators evaluate bank activity in low- and moderate-income neighborhoods.

Foxconn Technology Group could continue to fall short of job targets included in its contract with the state and still earn more than $500 million in capital expenditure tax credits by the end of 2022 if it continues its current hiring pace. To reach that figure, the company would have to create 3,560 jobs and invest $3.5 billion on capital expenditures in Mount Pleasant.

Since being shoehorned into the Tax Cuts and Jobs Act of 2017, OZs have faced multiple challenges — from a fragmented fundraising landscape to the record-long government shutdown. That has created an environment where a growing number of people are realizing how much they still don't know about OZs. 

State and local officials as well as congressional lawmakers expressed disappointment that President Trump made only passing reference to infrastructure investment in his State of the Union speech.

As municipalities, state agencies, and educational institutions look for creative ways to fund needed capital improvements, leveraging the value of underutilized public real estate assets through commercial development is a viable strategy.

During this installment of the CDFA // BNY Mellon Webcast Series, our expert speakers will think outside the silo and recognize the food system as an economic development tool by discussing innovative financing to fill the gaps of regional food systems.

Financial advisory firm seeks an entrepreneurial and hard-working individual to join its growing public finance team. Established in 1999, Wye River Group is an SEC and MSRB registered Municipal Advisor. The firm's professionals have completed more than 600 transactions totaling over $35 billion.

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