About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

Development Finance Review Weekly - November 4, 2021

Having trouble viewing this newsletter? View it online.
Development Finance Review Weekly
November 4, 2021
Subscribe
View Archives
CDFA Development Finance Review Weekly

Features

Democrats, Stung by Electoral Losses, Press Forward on Biden Infrastructure Agenda
Smarting from an off-year electoral rebuke, congressional Democrats pushed forward on Wednesday toward House votes this week on nearly $3 trillion worth of social policy, infrastructure, and climate change programs — but with a deep new worry after Tuesday's stunning losses: Would a legislative victory help or hurt their political standing?

Infrastructure ‘Teed up for Major Action'
The House will try again this week to pass an infrastructure bill, having failed in late September and again last week to get progressives' buy-in on a process that would have them voting on infrastructure before a reconciliation bill is completely finished. Progressives have kept leadership guessing as to what exactly they require — a framework? bill text? a Senate vote? — before voting on infrastructure.

Angel Capital Association Releases Angel Funders Report 2021
The newly-released Angel Funders Report 2021 uses verified data provided directly by active angel investing groups. The report is based on information collected from a variety of ACA member groups, including some of the most active investing communities. It analyzes angel capital investments made during 2020, and features profiles and insights from leading angel investors and startup company executives.

President Biden Announces the Build Back Better Framework
On Thursday, October 28, President Biden announced the Build Back Better Framework. The President is confident this is a framework that can pass both houses of Congress, and he looks forward to signing it into law. He calls on Congress to take up this historic bill – in addition to the Bipartisan Infrastructure Investment and Jobs Act – as quickly as possible. This framework will guide the drafting of legislative language.

Join the Conversation About Financing Smart Cities Initiatives with CDFA and BNY Mellon
Communities around the country are still working to understand what kinds of smart infrastructure they want and need at the local level - and how to pay for these 'smart cities' initiatives. Join the next free installment of the CDFA // BNY Mellon Development Finance Webcast Series to learn about what types of smart infrastructure projects are happening around the country and how these efforts are being financed.

Frost Brown Todd Represents Toledo-Lucas County Port Authority in University of Toledo P3 Parking Concession
A team of Frost Brown Todd's Ohio and Kentucky Public Finance and Government Service attorneys recently closed $68.6 million of tax-exempt bonds issued by the Toledo-Lucas County Port Authority. This transaction is a unique public-private partnership (P3) involving not only a parking concession but also a mobility concession utilizing a 35-year lease of all parking assets from the University of Toledo to ParkUToledo Inc.

Implementation of the $1B California Rebuilding Fund Includes 778 Funded Loans to Small Businesses
To help small businesses navigate the impact of the pandemic, the California Small Business Enterprise Task Force, a public-private consortium of legal, financial, and nonprofit professionals, created the $1 billion California Rebuilding Fund. A team from MoFo led the development and implementation, a public-private partnership loan program to support California's small businesses, especially those located in economically disadvantaged and historically under-banked areas of the state.

Over 500 Regions From Across the Country Participate in $1B Build Back Better Regional Challenge
EDA is pleased to announce that 529 applications from regions in all 50 states and five territories have submitted applications for Phase 1 of the $1 billion Build Back Better Regional Challenge. Alejandra Y. Castillo sent an open letter sent to Phase 1 applicants. Also provided is a link to the list of Phase 1 applicants by lead institution, project title, and state.

Investing Patient Capital in Established BIPOC Businesses to Close the Racial Wealth Gap
LISC's George Ashton takes a close look at why growth in the pre-pandemic number of minority-owned businesses has failed to narrow the racial wealth gap. The answer: existing BIPOC businesses don't have access to the kind of growth capital they need to build their resiliency, expand their workforce and support next-generation success.

Upcoming Events

Intro Property Assessed Clean Energy (PACE) Finance WebCourse
December 8-9, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Property Assessed Clean Energy (PACE) Finance WebCourse will explore the process of creating, operating, and maintaining a community-based PACE program. This two-day course will feature a comprehensive overview of PACE including program design, capital markets analysis, investor attraction, legal and regulatory considerations, market potential, and operations.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Chairman Neal Says He'll Keep Fighting for Municipal Market in Washington
Municipal market provisions booted out of the Build Back Better bill last week remain important but "compromises had to be made," House Ways and Means Committee Chair Richard Neal said Tuesday. Neal's comments came during remarks at the SIFMA's annual meeting. "I tried my best to guard these provisions in reconciliation but compromises had to be made and that's just part of the process," Neal said.

Table Set for Chicago, IL's Next Move On Planned Casino-Resort
Chicago has five proposals to consider in its next step toward developing its first casino that's eventually expected to produce $200 million in new annual revenue.

Texas Voters Will Pump up to $10.8B Into Bond Pipeline
Local voters across Texas will consider $10.8 billion of debt for schools and local government in the second statewide bond election date of the year. Tuesday's election features $8.7 billion of school district bonds, about $821 million for cities, $798 million for counties and $552 million for municipal utility districts.

Reconciliation Bill's Corporate Tax Could Dampen Demand for Munis
The Build Back Better legislation unveiled by the White House not only failed to include municipal market priorities but may also hurt demand for muni bonds by institutional investors. The bill features a new 15% corporate minimum tax that would apply to the adjusted financial statement income for corporations with more than $1 billion in annual income.

Muni Market Priorities Dropped in Build Back Better Framework
The Build Back Better framework released last week by President Joe Biden does not include any of the municipal market's top priorities such as the restoration of tax-exempt advance refundings; a direct-pay bond program; an expansion of the eligible uses of private activity bonds, etc.

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: When it Comes to Financing Smart Cities, What Counts as Smart?
Tuesday, November 16, 2021 - 2:00 PM - 3:00 PM Eastern
The concept of Smart Cities is no longer brand new, yet most communities are still working to understand what kinds of smart infrastructure they want and need at the local level - and how to pay for it. Join CDFA for this next installment of the CDFA // BNY Mellon Development Finance Webcast Series to learn about what types of smart infrastructure projects are happening around the country and how these efforts are being financed.

CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years
Tuesday, November 30, 2021 - 2:00 PM - 4:00 PM Eastern
It has been approximately 10 years since the first PACE programs began. During this workshop, our speakers will provide insights related to expanding PACE assessments to benefit buildings and properties for other non-energy related improvements such as indoor air quality, lead water pipe replacement, surface storm water mitigation, and sewer overflows.

CDFA Federal Financing Webinar Series: Preserving Local Food Systems with Federal Financing
Tuesday, December 14, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, hear from experts at the USDA about their various programs available for rural food systems and agricultural producers to recover from the pandemic.

Legislative & Federal Affairs

A look at the latest legislative news impacting the development finance industry:

Build Back Better Framework Includes Major Investment in Housing
The latest framework for the Build Back Better Act includes a historic investment in affordable housing and community development. The proposal calls for $150 billion for housing and community development, which would be "the single-largest and most comprehensive investment in affordable housing in history," according to the White House.

New Proposal in Congress on Debt Relief for 'Limited-Resource' Farmers
Stymied by lawsuits that contend USDA debt relief for farmers of color is actually reverse discrimination, House Democrats proposed an alternative: full or partial forgiveness of USDA loans to limited-resource farmers. The multi-billion-dollar proposal, which does not mention race, is directed toward economically distressed farmers and ranchers in high-poverty areas. The proposal was part of a $1.75 trillion social welfare and climate change package.

Visit CDFA's Advocacy Center to view the latest legislative and federal updates, explore CDFA's Policy Agenda, track legislation relevant to development finance, get involved in CDFA-led initiatives, and more.

Job & RFP Postings

Rhode Island Infrastructure Bank Hiring Senior Business Development Analyst
The Senior Business Development Analyst plays a key role on the Business Development team in maintaining and developing new client relationships as well as providing strategic support to the Bank's lending programs. The position will also be responsible for researching new program opportunities and strategic customer engagement with a focus on clean energy and climate change mitigation initiatives.

This Week's Headlines

DOE Announces Nearly $200M to Reduce Emissions From Cars and Trucks
U.S. Department of Energy | Nov. 3 | Energy Finance | Federal | Green Finance | U.S. Dept. of Energy (DOE)

Eagle, CO Voters Show Approval for Ballot Question Authorizing $27M in Downtown Development Bonds
Vail Daily | Nov. 3 | Bond Finance | Infrastructure Finance | Tax Increment Finance (TIF) | Urban Development

JEDA Helps to Finance Construction of New Affordable Housing Complex in Port Royal
SC JEDA | Nov. 3 | Bond Finance | Housing Finance | Member News

Virginia Beach Voters Approve $567M Bond Referendum to Deal With Flooding
Virginia Mercury | Nov. 3 | Bond Finance | Infrastructure Finance | Water Finance

DOJ Announces Initiative to Combat Discriminatory Redlining Practices
Jurist | Nov. 2 | Access to Capital | Economic Development | Federal | Social Finance

Edina, MN Considers TIF District for Perkins Site Redevelopment, Roadway Improvements
Sun Current | Nov. 1 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)

First Projects in Tuscaloosa, AL 10-year Infrastructure Plan Set to Proceed
Tuscaloosa News | Nov. 1 | Access to Capital | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

State Launches New Program to Help MWBE Compete for DASNY Construction Contracts
Real Estate Weekly | Nov. 1 | Access to Capital | Bond Finance | Public-Private Partnership (P3) Financing | Social Finance

Allentown, PA is Looking to Close the ‘Digital Divide' by Getting in the Broadband Business
The Morning Call | Oct. 29 | Economic Development | Infrastructure Finance | Urban Development

Columbus, OH City Officials and Nonprofit Partners Announce Affordable Housing Plans
WOSU Public Media | Oct. 29 | Bond Finance | Housing Finance | Tax Credits

Crowdfunding Can Be a Great Democratizer for Small Businesses, But It Isn't Yet
Next City | Oct. 29 | Access to Capital | Crowdfunding

EPA Announces $224M Water Infrastructure Loan for Climate Resilience in Los Angeles, CA
U.S. EPA | Oct. 29 | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Urban Development | Water Finance

Ohio Economic Development Association Recognizes Tiffin, Seneca CARES Programs
TiffinOhio.net | Oct. 29 | Community Development | Development Finance Toolbox | Economic Development

San Francisco, CA Upgrades Tent Village to Tiny Home Community
Next City | Oct. 29 | Housing Finance | Social Finance

SBA and Biden-Harris Administration Announce Community Navigator Pilot Program Grantees
U.S. SBA | Oct. 29 | Access to Capital | Community Development | Federal | Innovation Finance | U.S. Small Business Administration (SBA)

The Startup Surge: Business Formation in 2021 on Pace to Break Record
EIG | Oct. 28 | Access to Capital | Economic Development | Innovation Finance | State Small Business Credit Initiative (SSBCI)

To Fight Poverty, Invest in Local Food
Next City | Oct. 28 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance

USDA Announces Over $243M in Grants Awarded to Strengthen the Specialty Crop Industry
USDA | Oct. 28 | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

WHEFA Bond Financing Helps Saint John's Communities, Inc. Refinance in Milwaukee, WI
WHEFA | Oct. 28 | Bond Finance | Community Development | Housing Finance | Member News


New Additions to the Online Resource Database

Angel Funders Report 2021
Access to Capital | Economic Development | Innovation Finance | State Small Business Credit Initiative (SSBCI)
The Angel Funders Report 2021, published by the Angel Capital Association, uses verified data provided directly by active angel investing groups. The report is based on information collected from a variety of ACA member groups, including some of the most active investing communities. It analyzes angel capital investments made during 2020, and features profiles and insights from leading angel investors and startup company executives.

Local and Regional Infrastructure Interactive Map - Kinder Institute
Economic Development | Energy Finance | Infrastructure Finance | Rural Development | Urban Development | Water Finance
The Kinder Institute Local and Regional Infrastructure Database contains more than 1,800 planned infrastructure projects identified by surveying local and regional leaders, reviewing capital investment documents, and selected using other sources. This interactive map allows users to explore the data.


National Sponsor Spotlight

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...
PGAV Planners, LLC PGAV Planners, LLC
PGAV is a global leader in planning, design, and development consultation to public, corporate, and institutional clients. For more than fifty years, PGAV has created unique approaches and solutions to community planning and development issues, and...
SB Friedman Development Advisors SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...

Partner Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its web site, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail Revolving Loan Fund Reference Guide
The Revolving Loan Fund Reference Guide offers an in-depth look at RLF program development, implementation and management. This guide demonstrates how an RLF program can complement economic development strategies, encourage investment and assist traditionally underserved businesses.

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

Archives

Displaying 1 - 30 of 783

April 25, 2024
April 18, 2024
April 11, 2024
April 4, 2024
March 28, 2024
March 21, 2024
March 14, 2024
March 7, 2024
February 29, 2024
February 22, 2024
February 15, 2024
February 8, 2024
February 1, 2024
January 25, 2024
January 18, 2024
January 11, 2024
January 4, 2024
December 28, 2023
December 21, 2023
December 14, 2023
December 7, 2023
November 30, 2023
November 23, 2023
November 16, 2023
November 9, 2023
November 1, 2023
October 26, 2023
October 19, 2023
October 12, 2023
October 5, 2023




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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor