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Development Finance Review Weekly - January 20, 2022

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Development Finance Review Weekly
January 20, 2022
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CDFA Development Finance Review Weekly

Features

Announcing the 2022 CDFA-Bricker Webinar Series: Financing Green and Sustainable Assets
The CDFA-Bricker Webinar Series will highlight the various financing options for green and sustainable assets in both the private and public sectors. Discussions will cover PACE, green banks, green bonds, utility scale electric generation, and green leasing. Register now for the first installation in this series - "Green Financing 101" - to hear an overview of these topics.

Funding Available to Support Surface Transportation Projects
The Department of Transportation Rebuilding American Infrastructure with Sustainability and Equity (RAISE) grant program is offering up to $25 million to support highways, bridges, road projects, public transportation projects, passenger and freight rail transportation projects, port infrastructure, and intermodal projects that promise to achieve national objectives.

Latest Washington State Broadband Infrastructure Funding will Connect Residents of 14 Communities Currently Lacking Reliable High-speed Internet Service
The Washington State Broadband Office today announced funding for 13 construction projects that will deliver reliable, high-speed internet access in 14 communities when completed. The $145 million in Broadband Infrastructure Acceleration grants move Washington another step closer to its ambitious goal of connecting all residents of the state to broadband infrastructure by 2028.

JEDA Bonds Help Refinance and Expand York Preparatory Academy
York Preparatory Academy is using a bond issue in the amount of $40,082,000 through the South Carolina Jobs-Economic Development Authority to refinance prior debt and pay for new improvements at its Rock Hill campus. The Educational Facilities Revenue Bonds will be used to refund bonds issued in 2014 to help acquire the campus at 1047 Golden Gate Court and to fund capital improvement projects for the school that now educates 1,646 students from kindergarten through 12th grade.

D.C. Green Bank Lining Up Local Dollars, Local Firms to Reap the Solar Boom
As co-founder of Flywheel Development, a local and sustainable real estate development company in D.C., Pitts approached Fairfax Villages to see if anyone would be interested in a community solar installation. Her firm would build a solar array on top of one or more of their buildings, connect it to the electric grid, and the power it produced would result in savings on electricity bills for residents below.

FACT SHEET: Biden-⁠Harris Administration Hits the Ground Running 60 Days into Infrastructure Implementation
Since President Biden signed the Bipartisan Infrastructure Law 60 days ago, the Biden-Harris Administration has hit the ground running to deliver results. The Administration has made key progress towards implementing the largest long-term investment in America's infrastructure and competitiveness in nearly a century.

How is PACE Financing Being Used in Stark, OH?
Two developments in Canton and one in Jackson Township are using an innovative way to finance energy-efficient projects. The DoubleTree by Hilton, the Greens at Belden, and the Hall of Fame Village's Constellation Center for Excellence all use property assessed clean energy (PACE) financing. It was first used by DoubleTree in 2020 and could be increasingly used by future developments.

Setting a Path to Green, Resilient, and Inclusive Development
By investing now to build a green, resilient, and inclusive economy, countries can turn the challenges of COVID-19 and climate change into opportunities for a more prosperous and stable future. COVID-19 and climate change have starkly exposed the interdependence between people, the planet, and the economy. All economic activities depend upon ecosystem services, so depleting the natural assets that create these services, eventually worsens economic performance.

Tester Urges State Governments to Better Coordinate With Tribal Governments to Successfully Implement Tribal Broadband Expansion From Infrastructure Bill
This week, in the Senate Committee on Indian Affairs' Roundtable discussion on "Closing the Digital Divide in Native Communities through Infrastructure Investment," U.S. Senator Jon Tester urged state governments to better work with Tribal governments to successfully implement broadband funding from his recently passed Infrastructure Investment and Jobs Act.

Gov. Northam Announces Launch of Virginia Small Business Resiliency Fund
Gov. Ralph Northam has announced the launch of the new Virginia Small Business Resiliency Fund program and more than $9.7 million in grants has been awarded for 12 projects throughout the Commonwealth. The funding will assist organizations to create programs and products that will expand access to capital and provide technical assistance for COVID-19 impacted small businesses.

Upcoming Events
Fundamentals of Economic Development Finance Course
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Congress Launches Hearings on New Water Infrastructure Legislation
Congress Wednesday kicked off hearings for a new water infrastructure bill that will dictate the policies and national water projects that will see funding over the next several years. Most of the projects will include state and local governments partnering with the U.S. Army Corps of Engineers' Civil Works Program, which is about to see the largest influx of funding in its history.

Munis Vastly Outperform Big Selloffs in UST, Equities
Municipals outperformed another large selloff in U.S. Treasuries that pushed that market to the highest yields since before the pandemic began while equities also saw massive losses as the markets fully digest an expected March rate hike.

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-Bricker Webinar Series: Green Financing 101
Tuesday, February 1, 2022 - 2:00 PM - 4:00 PM Eastern
There are a wide variety of financing approaches that can be used to improve the environmental outcomes of a project or address specific environmental issues. This session will provide an overview of Green Financing, with a special focus on the role of Green Banks.

SSBCI Coalition Meeting - February 18 (Virtual)
February 18, 2022 - 1:00 PM Easter
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.

SSBCI Coalition Meeting - March 18 (Virtual)
March 18, 2022 - 1:00 PM Eastern
SSBCI Coalition meetings will be held once a month to provide an interactive forum for CDFA members during the State Small Business Credit Initiative (SSBCI) application period. CDFA will facilitate discussions that allow for networking, peer knowledge sharing, and problem solving.

Job & RFP Postings

RFP for SSBCI Loan Participation Program in Rhode Island
This document constitutes a RFP, in a competitive format, to lending entities seeking to participate in a SSBCI Other State Capital Program focused on loan participation. An SSBCI Loan Participation Program enables the state instrumentality to act as a lender, in partnership with a private lender, to provide capital for small business growth and expansion.

RFP for SSBCI Venture Capital Funds in Rhode Island
This document constitutes a RFP, in a competitive format, to entities seeking fund manager(s) to manage a fund(s) to increase the amount of investment capital provided to new Rhode Island firms or to existing Rhode Island firms consistent with SSBCI. In responding to this RFP, Applicants are encouraged to create, design, or offer programs, that best meet the needs of small businesses in communities across Rhode Island.

RFP for: SSBCI CDFI Program in Rhode Island
This RFP, is in a competitive format, to entities seeking to participate as a Rhode Island situated Community Development Financial Institution ("CDFI") that will carry out SSBCI financing programs in partnership with the Corporation. In responding to this RFP, Applicants are encouraged to create, design, or offer programs, that best meet the needs of small businesses in communities across Rhode Island.

RFP for Redevelopment of New Life Center in Opelousas OZ
The City of Opelousas, LA in partnership with St. Landry Economic Development and The Acadiana Planning Commission is pleased to issue this Request for Proposals ('RFP') for the redevelopment of the New Life Center and associated parcel of land ('NLC Redevelopment Site,' 'Site,' or 'Project') located in Downtown Opelousas, Louisiana under the jurisdiction, custody, and control of the City of Opelousas.

This Week's Headlines

Council Bluffs, IA Brownfields Grants Available
The Daily Nonpareil | Jan. 20 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

EPA Announces New WIFIA Loans Totaling $688M, Highlights More than $5B in Water Infrastructure Investments
EPA | Jan. 20 | Access to Capital | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

How Are Rural Communities Using American Rescue Plan Funds?
The Daily Yonder | Jan. 19 | Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Federal | Rural Development

Knoxville, IA City Council Working to Revitalize Downtown
KNIA-KRLS | Jan. 19 | Access to Capital | Economic Development | Revolving Loan Funds (RLFs)

Lorain, OH Council Approves Brownfield Grant Application
The Chronicle-Telegram | Jan. 19 | Brownfield Financing | Economic Development | Housing Finance | Redevelopment | State Finance Program

Virginia Small Business Resiliency Fund Launches
Inside Business | Jan. 19 | Access to Capital | Community Development | Disaster Recovery & Relief | Food Systems Finance | COVID-19

Biden to Tout New Bridge Program at Infrastructure Law's 60-day Mark
Yahoo News | Jan. 18 | Infrastructure Finance | Legislative

Bill Would Allow Vancouver Businesses to Continue Getting Assistance, Tax Credits
The Columbian | Jan. 18 | Economic Development | Historic Preservation | Legislative | Redevelopment | Tax Credits

Farmworkers Bear the Brunt of California's Housing Crisis
Civil Eats | Jan. 18 | Agriculture Finance | Housing Finance | Rural Development

Mansfield, OH City Council OKs $500K Toward Former Westinghouse Demolition/Remediation
Richland Source | Jan. 18 | Brownfield Financing | Economic Development | Local Finance Program | Redevelopment | State Finance Program

More Than 1M Ohio Households Qualify for Internet Help
Government Technology | Jan. 18 | Housing Finance | Infrastructure Finance

Victoria City Council Votes to Support 4 Housing Project Tax Credit Bid
Victoria Advocate | Jan. 18 | Community Development | Housing Finance | Tax Credits

Walz Proposes $2.7B Infrastructure Package
Yahoo News | Jan. 18 | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Water Finance

IRS Ruling Provides Extension for LLC to Self-Certify as QOF
Novogradac | Jan. 17 | Opportunity Zones

Office Building Planned for Long-Vacant St. Albans, VT Brownfield Site
VTDigger | Jan. 17 | Brownfield Financing | Economic Development | Redevelopment

ARPA Final Rule – The "B-Sides Collection": Funding Capital Projects
Bricker & Eckler | Jan. 14 | Disaster Recovery & Relief | Economic Development | Federal | Legislative | Member News | U.S. Dept. of Treasury

Avon Lake, OH to Seek Grant From New Brownfield Remediation Program for Power Plant Cleanup
Chronicle Telegram | Jan. 14 | Brownfield Financing | Community Development | Economic Development | Redevelopment | State Finance Program

Santa Clara County, CA Wins $22M to Turn Hotel Into Homeless Housing
Silicon Valley.com | Jan. 14 | Bond Finance | Housing Finance


National Sponsor Spotlight

Bryan Cave Leighton Paisner LLP Bryan Cave Leighton Paisner LLP
Formed by the combination of Bryan Cave and Berwin Leighton Paisner, global law firm Bryan Cave Leighton Paisner LLP is purposely structured in a way few other law firms are, as a fully integrated international team that provides clients with clear,...
Business Oregon 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...
CohnReznick 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...

CDFA Bookstore

Cover thumbnail Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency
The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.

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

  • 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