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CDFA Bond Finance Update - November 15, 2022

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Bond Finance Update
November 15, 2022
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CDFA Bond Finance Update


Charter School Uses JEDA Bond Issue for Purchase, Expansion of Ridgeland, SC Campus
Polaris Tech Charter School is using $18,850,000 in bond financing through the South Carolina Jobs-Economic Development Authority to help finance the acquisition and expansion of the school's campus in Ridgeland, SC. The school opened in 2018 and has approximately 300 students enrolled in grades 5-12. Polaris Tech plans to add grades K-4 in 2023 and double the size of the school facility.

Don't Miss the Upcoming Intro Brownfields Finance Course on December 7-8!
Join us on December 7 & 8 for the Intro Brownfields Finance Course, the industry's only comprehensive training curriculum that helps economic developers, policymakers, and real estate professionals master the financing strategies for the lifecycle of a brownfield property. Learn the basics of brownfields, the legal and regulatory challenges, and the financing tools available to clean up and build up these sites.

EDF Celebrates the Passing of the New York Bond Act
New York voters passed the historic Clean Water, Clean Air, and Green Jobs Environmental Bond Act ballot measure to support environmental improvements that preserve, enhance, and restore New York's natural resources, and create more than 84,000 local jobs. The measure is the largest environmental bond act in state history at $4.2 billion and the largest on any ballot anywhere in the nation in 2022.

Columbus, OH Voters Approve Affordable Housing, Other Bonds
Voters approved Columbus, Ohio's $200 million bond package for affordable housing that Mayor Andrew J. Ginther and other city officials say will provide funding for homes for lower-income residents in a market quickly becoming too expensive for many.

Morgantown, WV to Lay Out Financing Plan for BOPARC's Ice Arena, Marilla Pool Projects
An ordinance authorizing nearly $30 million in bond funding for recreation projects will get its first public airing when Morgantown City Council sits for its October committee meeting. The ordinance supports BOPARC's long-awaited overhaul of the Morgantown Ice Arena and the creation of a new Marilla Pool complex.

$45M Approved to Finance Once-Debated New Orleans, LA Project
Louisiana Bond Commission approved $45 million in state financing for a critical infrastructure project in New Orleans. The agency wants to build a new power plant to replace unreliable turbines that power the city's drainage and drinking water systems. The project has been touted as a game-changer in New Orleans' efforts to combat more frequent flooding and boil advisories.

PWSA Receives $139M in Loans and Grants for Water Main, Lead Line Replacement
The Pittsburgh Water and Sewer Authority (PWSA) has been awarded $133 million in state, low-interest loans and a $6 million grant as it continues to replace water mains, lead service lines and catch basins. Pennsylvania Infrastructure Investment Authority, known as Pennvest, will save ratepayers $105 million compared to traditional municipal bond financing.

Arizona Elementary School District Launches New Investor Relations Initiative
Washington Elementary School District (WESD), the largest elementary school district in Arizona, announced its partnership with BondLink to develop a new, free investor transparency initiative and website (WESDbonds.com) that will inform and attract potential institutional investors to its upcoming bond sales in 2023.

Market Reports

Weekly Market Outlook
Moody's Analytics | Nov. 10 | Bond Finance | Market Reports

Capital Market Insights
Wye River Group | Nov. 10 | Bond Finance | Market Reports

Upcoming Events
Intro Brownfields Finance Course

CDFA-Bricker Webinar Series: PACE and Traditional Lending Institutions
Tuesday, November 22, 2022 - 2:00 PM - 4:00 PM Eastern
Since the origins of PACE financing in the early 2010s, PACE lenders have been primarily non-traditional lending institutions. However, with the explosive growth of PACE across the country, the traditional lending world has begun to enter the PACE market. In this session, attendees will get an overview of the PACE lending history and the influx of traditional lending institutions across the country.

CDFA Infrastructure Finance Learning Series: How Different Communities Can Benefit From IIJA
Tuesday, December 6, 2022 - 1:00 PM - 4:00 PM Eastern
One of the goals of the IIJA is to foster an equitable economy by investing in historically underserved and under-resourced communities. Infrastructure challenges in these areas range from public transportation to digital access to online information. Speakers on this final installation will cover the variety of problems experienced across different communities - including those in urban, mid-sized, rural, and tribal communities - to discuss how IIJA funds can best be deployed.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Louisiana Heads to Bond Market to Pay Insolvent Insurers' Claims
For the first time in almost 30 years, the Louisiana Insurance Guaranty Association is coming to market with a municipal bond deal. Senior manager Wells Fargo Securities is set to price the Louisiana Local Government Environmental Facilities and Community Development Authority's $458 million of tax-exempt Series 2022B insurance assessment revenue bonds for LIGA on Nov. 16.

Gridlock Can Be Good for the Muni Market
Though congressional control remains uncertain after a tight midterm election, public finance lobbyists say market-rattling policy shifts are unlikely next year and they will stick to bond basics to educate new lawmakers heading to Washington.

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.

Bond Finance Headlines

Freeport, TX Council Moves Forward with Financing for Sewage Treatment Plant
TRIB Live | Nov. 14 | Bond Finance | Infrastructure Finance

Stillwater School Board in Oklahoma Call 2023 Election for $195M Bond Issue
Yahoo News | Nov. 14 | Bond Finance

Decoding COP27: The Many Shades of Green Bonds
World Economic Forum | Nov. 14 | Bond Finance | Energy Finance | Green Finance

Albemarle Wants Agreement for Major Columbia County, AR Expansion
Magnolia Reporter | Nov. 14 | Bond Finance

New Department of Transportation Infrastructure Loan Earmarks Funds for Cameron Ferry in Louisiana
7 KPLC | Nov. 14 | Bond Finance | Infrastructure Finance

Strategically Funding School Facility Improvements
Ground Break Carolinas | Nov. 14 | Bond Finance

Brentwood, CA Agrees to Look at $40M "Garbage Juicer" Facility
East County Today | Nov. 14 | Bond Finance

$120M East Point Waterfront Community Permitted for 392 Residential Units in East Providence, RI
New England Real Estate Journal | Nov. 11 | Bond Finance | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)

Victor City, ID Council Greenlights Public Works Facility Financing
Teton Valley | Nov. 10 | Bond Finance

Missoula, MT Voters Saying No to $19M Fairgrounds Improvement Bond
8KPAX | Nov. 10 | Bond Finance

Chesterfield County, VA Passed $540M Bond Referendum
Richmond Times Dispatch | Nov. 10 | Bond Finance | Infrastructure Finance

BXP Prices $750M Offering of Green Bonds
Yahoo Finance | Nov. 10 | Bond Finance | Green Finance

$200M Affordable Housing Bond Wins Support from Palm Beach County, FL Voters
The Palm Beach Post | Nov. 10 | Bond Finance | Housing Finance

New York College Defaults on $25M Bond Payment, Raising Concerns About Its Survival
Higher Ed Dive | Oct. 24 | Bond Finance

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 visit CDFA.net or email info@cdfa.net

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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