In 2015, the housing bond — directing $310 million for affordable housing for low-income families, revitalization of public-housing projects and down-payment assistance for middle-income homebuyers — was approved by nearly three-quarters of voters. This year, a $600 million bond for affordable housing will be on the ballot.

Municipal bond investors will likely be eyeing the potential sale of $500 million in revenue bonds by the Chandler, AZ Industrial Development Authority, to help bolster Intel's chipmaking plants. Proceeds from the sale would finance the acquisition, construction, and installation of certain sewage and wastewater treatment facilities associated with Intel's local semiconductor manufacturing factories.

The Governor of Maine proposed a 2 year, $239 million bond package. Nearly half of the package ($105 million) is for transportation needs to fix roads bridges, ports, and airports, and $30 million would go to help expand broadband in rural areas.

The Indianapolis City Council has approved two bond issues to help finance a $157 million downtown redevelopment project. The bonds will be repaid over a 22-25-year period with a combination of property taxes paid by the developer in a TIF district and lease payments on the city-owned, developer-operated garage.

A 175-acre senior living community is leveraging $67M in SC Jobs-Economic Development Authority (JEDA) bonds to finance its expansion and renovation project. The tax-exempt issues include $54.8M in new Healthcare Facilities Revenue Bonds and $13.2M to refund existing debt that was used to refund JEDA bonds from 2011.

The Internal Revenue Service issued much-awaited guidance in Notice 2019-39. This Notice allows for refinancings or refundings by Native American tribal governments of Tribal Economic Development bonds and loans (TEDs) without needing to obtain an additional allocation of TED volume cap.

The Governmental Accounting Standards Board (GASB) has improved its existing standards to provide a single method for government issuers to report conduit debt obligations and related commitments. The enhanced guidance is designed to eliminate diversity in practice associated with these issues.

The Warren County Port Authority approved the sale of up to $13 million in bonds to finance the roads and other infrastructure for Stillwater Crossings, a mixed-use development in West Milton, OH. The project is to include residences for senior citizens, retail, restaurants, a gas station, a medical facility, and offices.

CDFA Federal Financing Webinar Series: Opportunity Zones and Affordable Housing featuring HUD and USDA
June 27, 2019 - 2:00 PM Eastern

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The rule allows banks to count investment-grade municipal obligations as level 2B high-quality liquid assets (HQLAs), and is credit positive for municipal issuers because it will continue to make these bonds attractive investments for banks, bolster demand and likely lead to a lower cost of financing.

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