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Development Finance Review Weekly - October 3, 2019

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Development Finance Review Weekly
October 3, 2019
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CDFA Development Finance Review Weekly

Feature

As Rural Groceries Fade Away, Lawmakers Wonder Whether to Act
Some states are trying to tackle their rural grocery gaps. Supporters of such efforts point to tax incentives and subsidies at various levels of government that have enabled superstores to service larger areas and squeeze out local independent grocers.

NY State Dormitory Authority Issues $121M in Green Bonds
The New York State Dormitory Authority has announced that it will issue more than $121 million in green bonds that Cornell University will use to finance the construction of new residence halls on the school's north campus.

White House Opportunity and Revitalization Council Launces OZ Website
The White House Opportunity and Revitalization Council, announced a new website that will serve as a hub of information for the array of audiences that work with the Opportunity Zones initiative.

University of Iowa Considers P3 for Campus Utilities
Following months of conversation around an attempt to serve students better and execute its strategic plan, the University of Iowa is exploring its options for a public/private partnership to operate campus utilities.

How ‘Resilience' Became a Politically Safe Word for ‘Climate Change'
Climate change remains a deeply divisive term in some corners of Capitol Hill, but lawmakers from both parties are embracing the concept of "resilience" — building infrastructure engineered to better withstand devastating wind and floods associated with a warming planet.

USDA Invests $139M in Community Facilities Improvements in 23 States
U.S. Department of Agriculture (USDA) for Rural Development announced that USDA is investing $139 million in 56 projects to improve community facilities and provide essential services for 3.3 million rural residents in 23 states. USDA is making the investments through the Community Facilities Direct Loan Program.

Startup Restauranteurs Find Willing Investors Via Crowdfunding
A report about to be published shows the restaurant industry is thriving and a contributing factor is the use of investment crowdfunding. Restaurants have proven to be a good fit for investment crowdfunding.

Packard Showroom Redevelopment May Start Soon
Plans call for 38 lofts of mostly one-bedroom units and 8 units are affordable for those making 60 percent of the area median income ($32,100). The Michigan Strategic Fund approved a $1.4 million loan through its Michigan Community Revitalization Program and the project recently got around $562,000 in brownfield financing.

Upcoming Events
CDFA National Development Finance Summit
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Port Authority of NY/NJ Lease Deal Will Help Newark Replace Lead Pipes
An amended lease extension agreement between Newark, NJ, and the Port Authority of New York and New Jersey will aid the city with its lead pipe replacement project. The Port Authority's updated lease provides Newark with an additional $155 million.

FL Preps First GARVEE Bond Deal
Florida plans to issue $1.3 billion of GARVEE bonds over five years to leverage revenues from the Federal Highway Trust Fund. It will sell the inaugural tranche of grant anticipation revenue vehicle bonds totaling $125.3 million as early as next week in a competitive deal.

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.

Upcoming Webcasts

CDFA // BNY Mellon Development Finance Webcast Series: Analysis of the 2018 CDFA Volume Cap Report and Capital Markets Review
Tuesday, October 15, 2019 - 1:00 PM Eastern
The annual CDFA Volume Cap report is an essential outline of national private activity bond issuance trends and is used by issuers, researchers, trade groups, and political offices to understand the private activity bond landscape. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will examine the recently released Volume Cap Report in fine detail as well as discuss the fourth-quarter outlook of the capital markets.

CDFA-Bricker PACE Webinar Series: PACE Program Design
October 16, 2019 - 11:00 AM - 1:00 PM Eastern
In this webinar, industry leaders from C-PACE Alliance, the Keystone Energy Alliance, Clean Fund, and Bricker & Eckler] will share their experience in drafting PACE statutes, advocating for legislative changes to existing PACE statutes, determining and correcting market flaws or deficiencies, and increasing market volume. Capital providers will share some insights on how they arrange capital for projects, and the importance of certain market-based principles underlying the development of C-PACE as an asset class in commercial lending.

This Week's Headlines

Michigan Good Food Fund Accepting Applications for Catalytic Investment Awards
Michigan Good Food Fund | Oct. 2 | Food Systems Finance | Job Postings & RFPs

Maurice, LA Receives $2.7M RLF for Water Improvements
Acadania's Newschannel | Oct. 2 | Revolving Loan Funds (RLFs) | Water Finance

Investing in Regenerative Agriculture
Civil Eats | Oct. 2 | Access to Capital | Agriculture Finance | Food Systems Finance

No-Interest RLFs Aim to Develop Agricultural Economy
Pine River Times | Oct. 2 | Food Systems Finance | Revolving Loan Funds (RLFs)

SBA 504 Loan Helps Restaurant Go from Renters to Owners
PR Newswire | Oct. 2 | Access to Capital | Food Systems Finance | U.S. Small Business Administration (SBA)

City Of Las Vegas First In NV To Offer New Financing Tool For Sustainable Buildings 
City of Las Vegas | Oct. 1 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Legislation Introduced to Promote the Creation of an Appalachian Energy Storage Hub
Office of Congressman David B. McKinley | Oct. 1 | Energy Finance | Federal | Infrastructure Finance

Bill Would Establish P3 Pilot Program for GSA Projects
Office of Congressman Greg Pence | Oct. 1 | Legislative | Public-Private Partnership (P3) Financing

Survey of Greenville, PA Flood Damage
The Herald | Oct. 1 | Bond Finance | Disaster Recovery & Relief | Infrastructure Finance

P3 Could Fund New Downtown Kalamazoo, MI Event Center
WWMT West Michigan | Oct. 1 | Bond Finance | Public-Private Partnership (P3) Financing | Redevelopment

Louisville, KY Sports Complex to Be Built on Brownfield
WFPL | Sep. 30 | Brownfield Financing

Audit Alleges WV DEP Violated State Law for Nearly a Decade
WCHS | Sep. 30 | Bond Finance | Energy Finance

Increasing Clean Energy and Creating Jobs
Pittsburgh Post-Gazette | Sep. 30 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Scout Clean Energy Closes Wind Farm Financing
PR Newswire | Sep. 30 | Energy Finance | Green Finance | Tax Credits

Northwoods Hotel May Be Redeveloped
Cadillac News | Sep. 27 | Brownfield Financing

Lebanon, IL Creates TIF District for New Family-Owned Grocery
Belleville News | Sep. 27 | Food Systems Finance | Tax Increment Finance (TIF)


National Sponsor Spotlight

McGuireWoods McGuireWoods
With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP, uses client-focused teams to serve public, private, government and nonprofit clients from virtually every area of the law.
MuniCap, Inc. MuniCap, Inc.
MuniCap, Inc. is a public finance consulting firm based in Columbia, Maryland that specializes in the public finance aspects of redevelopment. MuniCap is headquartered in Columbia, Maryland, with additional offices located in Dallas, Texas,...
NW Financial Group, LLC NW Financial Group, LLC
NW Financial Group LLC is the premier Financial Advisory / Municipal Underwriting firm in the Northeast whose experienced professionals provide unparalleled expert advice to States, Local Governments and Authorities. The professionals that make up...

Partner Spotlight

Institute of Economic Development (IED) - United Kingdom Institute of Economic Development (IED) - United Kingdom
The Institute of Economic Development (IED) is the UK's leading independent professional body representing economic development and regeneration practitioners. Established over 30 years ago, the IED's key objective is to represent the interests of...

CDFA Bookstore

Cover thumbnail Tax Credit Finance Reference Guide
The Tax Credit Finance Reference Guide provides an exploratory overview of how communities can use tax credit finance programs to support economic growth. This guide examines how to effectively apply tax credits to development opportunities, and explains the basics of tax credits and the fundamentals of using these tools.

New Members

Interstate 49 International Coalition - Shreveport, LA

ORIX - Dallas, TX

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.

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
  • Bryan Cave Leighton Paisner 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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor