Development Finance Review Weekly - February 7, 2019
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Feature |
U.S. Impact Investing Alliance, Beeck Center Release OZ Framework
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.
$24M WHEFA Bond Financing Assists Black River Falls, WI Hospital
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.
Chicago, IL CDC Approves TIF for $7B Brownfield Megadevelopment
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.
The Tax Credit That is History in the Re-Making
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.
Rewrite of CRA Regulations Provides Opportunity to Increase Benefits
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.
At Current Hiring Pace, Foxconn Could Earn $500M in Tax Credits by 2022
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.
Opportunity Zones Overload
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.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
State of the Union Snubs Infrastructure Plan
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.
Asset Monetization and Public Facilities: New Ground for P3s
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.
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.
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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: The Food System: Thinking Outside of the Silo
Tuesday, February 12, 2019 - 1:00 PM Eastern
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.
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Job & RFP Postings |
Hiring: Financial Advisor - Wye River Group, Incorporated
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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This Week's Headlines |
Can Chicago, IL's Lincoln Yards Benefit the Whole City?
Curbed | Feb. 6 | Brownfield Financing | Tax Increment Finance (TIF)
Amazon Deals Show Incentives Evolution and Offer Lessons Learned
Smart Incentives | Feb. 6 | Incentives
Widespread Support for NH Affordable Housing Fund
NH Business Review | Feb. 6 | Community Development | Revolving Loan Funds (RLFs)
The MN Angel Tax Credit Could Be on Its Way Back
MinnPost | Feb. 6 | Innovation Finance | Tax Credits
What Will Be the Legacy of the Legacy Fund?
Minot Daily News | Feb. 5 | Infrastructure Finance | Revolving Loan Funds (RLFs)
Clean Energy and Climate Action Agenda for the New Congress
NRDC | Feb. 5 | Energy Finance | Green Finance
PA Lawmakers Debate Increasing the State's Film Tax Credit
Pennsylvania Watchdog | Feb. 5 | Incentives | Legislative | Tax Credits
Cedar Rapids, IA Utilizes TIF District and Bonds to Spur Development
The Gazette | Feb. 5 | Bond Finance | Tax Increment Finance (TIF)
Huntington, IN Makes Use of $900K to Clean Up Factory
Huntington County TAB | Feb. 5 | Brownfield Financing
How Utilities Can Swap Coal Debt For Clean Energy Equity
Forbes | Feb. 4 | Energy Finance
Two MN Cities Awarded Grants for Innovative Business Development
MN DEED | Feb. 4 | Infrastructure Finance | State Finance Program
Central MA Communities Have Different Philosophies for Tax Breaks
Worcester Business Journal | Feb. 4 | Community Development | Local Finance Program | Tax Credits | Tax Increment Finance (TIF)
NM Film Production Tax Credit Attracts Video Game Studio Headquarters
Albuquerque Business First | Feb. 4 | Incentives | State Finance Program | Tax Credits
Food Hub Coming to Southeast IN
The Herald Tribune | Feb. 4 | Food Systems Finance
MI Provides Funding to Redevelop Brownfield
The News Tribune | Feb. 4 | Brownfield Financing | Redevelopment
Girard, OH Will Seek EPA Grant to Turn Brownfield Into Bike Path
The Tribune Chronicle | Feb. 4 | Brownfield Financing | Rural Development
ND Legislators Look at Budgeting Money for Housing Incentive Fund
The Dickinson Press | Feb. 3 | Community Development | Legislative | State Finance Program | Tax Credits
Bipartisan Bills Introduced to Make Railroad Tax Credit Permanent
American Short Line and Regional Railroad Association | Feb. 2 | Infrastructure Finance | Legislative | Tax Credits
NY State Expands Historic Tax Credits to Buildings in Parks
Newsday | Feb. 1 | Historic Preservation | Redevelopment | State Finance Program | Tax Credits
Hartford, VT Addresses Possible $1.3M Shortfall in Bond Repayment
Valley News | Feb. 1 | Bond Finance | Organizational Management | Tax Increment Finance (TIF)
Columbus County, NC Wins $300K EPA Brownfield Grant
WECT | Feb. 1 | Brownfield Financing | U.S. Environmental Protection Agency (EPA)
Nine Laws that Helped NV Solar Grow 450%
PV Magazine | Feb. 1 | Energy Finance | Property Assessed Clean Energy (PACE)
Santa Clarita, CA Gets $87M Water Treatment Plant
SCV News | Feb. 1 | Revolving Loan Funds (RLFs) | Water Finance
How the Shutdown Affected SBA Loans
Upstate Business Journal | Feb. 1 | Access to Capital | Legislative
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National Sponsor Spotlight |
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Business Oregon
Business Oregon works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic opportunities for Oregon companies and...
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CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...
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FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
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Partner Spotlight |
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance intiative that supports entrepreneurship, business investment and job creation.
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New Members |
McKinley Partners - San Diego, CA
Project Management Consultants - Cleveland, OH
Parker Poe Adams & Bernstein LLP, SC - Columbia, SC
City of Sugar Land - Sugar Land, TX
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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