Development Finance Review Weekly - February 10, 2022
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Features |
Arctaris to Construct Broadband Fiber Network in Maine
CDFA Members Arctaris Impact Investors and Finance Authority of Maine (FAME) have partnered together to build new fiber broadband networks in economically distressed areas throughout Maine. The network will reach approximately 12,000 residential and business premises, providing these underserved communities with access to affordable high-speed broadband.
Communities Investing ARPA Funds with the Local Government ARPA Investment Tracker
Brookings Metro, the National Association of Counties (NACo), and the National League of Cities (NLC) have partnered together to create the Local Government ARPA Investment Tracker. The Tracker captures ARPA data related to State and Local Fiscal Recovery Fund allocations from 41 large cities, 104 large counties, and seven consolidated city-counties.
Green and Sustainable Loans: A Short Explainer
The loan markets have responded to the rise in ESG investment – investment focused on or mindful of Environmental, Social and Governance criteria – by setting out certain principles for participants to engage with the Sustainability Linked Loan Principles and the Green Loan Principles.
Baker-Polito Administration Outlines IIJA Funding Plans for Massachusetts
Massachusetts is anticipated to receive over $9.5 billion over 5 years, including an increase in the re-authorization of federal transportation dollars. The Baker-Polito Administration has outlined initial plans to make significant and additional investments into roads, bridges, public transportation, and environmental infrastructure projects.
Bill Uses Energy Tax Revenue to Fund Green Building Projects in Montgomery County, MD
Passed unanimously, the Montgomery County Green Buildings Now Act would take 10% – nearly $20 million – of the money generated from the county's energy tax, and dedicate it to the Montgomery County Green Bank, a local non-profit that uses public dollars to leverage private investments in clean energy projects.
Local Food, Farming Movement Can Alleviate Hunger in New Mexico
New Mexico Governor Michelle Lujan Grisham's fiscal year 2023 executive budget recommendation for the Food, Farm and Hunger Initiative includes more than $24 million — the largest investment increase in food and agriculture in the state's history — to revolutionize New Mexico's food system.
Colorado Buyer Seeks TIF to Help Spiff up Former Scoular Site in Omaha, NE
The Denver-based Kentro Group intends to buy and rehabilitate the nearly 90,000-square-foot downtown Omaha complex that the international Scoular grain company occupied before it moved to west Omaha. The development team seeks to defray eligible expenses with its request for $1.4 million in tax-increment financing.
California State Treasurer Announces 2022 Tax-exempt Debt Allocation for Affordable Housing Development
California State Treasurer Fiona Ma announced the California Debt Limit Allocation Committee's approval of more than $3.7 billion in allocation available for affordable housing in 2022. CDLAC and the California Tax Credit Allocation Committee, authorize tax-exempt debt and award state and federal low-income housing tax credits that together were responsible for the production of 22,946 total units of housing in 2021.
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Upcoming Events |
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Upcoming Webcasts |
SSBCI Coalition Meeting - February 18 (Virtual)
February 18, 2022 - 1:00 PM - 2:00 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.
CDFA // BNY Mellon Development Finance Webcast Series: Analyzing the Impact of COVID-19 Emergency Loan Funds
Tuesday, February 22, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we take a look at some takeaways from the deployment of CARES Act funds and other emergency pandemic response programs, including how communities designed emergency loan funds and what impacts the funds had on small and micro businesses.
CDFA Federal Financing Webinar Series: Capacity Building Programs from EDA and NIST
Tuesday, March 1, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the Department of Commerce to support projects in communities of all sizes. Learning about these programs can help fund projects in your community such as investing in physical infrastructure, developing new small business access to capital tools, building scalable startups, and creating and retaining manufacturing jobs.
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Job & RFP Postings |
WHEFA Executive Director Position Seeking
The Wisconsin Health and Educational Facilities Authority (WHEFA) is currently seeking a qualified candidate to serve as the Executive Director. Collaborating with a team and reporting to the WHEFA Members, the Executive Director is the chief managerial officer of WHEFA responsible for the implementation of a strategic plan including goals and objectives designed to attain the agency's mission and vision.
Invest Atlanta Hiring Senior Vice President of Community Development
Reporting to the Chief Operating Officer, the Senior Vice President of Community Development will be responsible for conducting and supervising the strategic and day-to-day activities associated with community development in Atlanta, including supporting and implementing the City's affordable housing strategy, targeted redevelopment strategies, and neighborhood revitalization strategies.
Invest Atlanta Hiring Senior Vice President of Economic Development
Reporting to the President & CEO, the Senior Vice President of Economic Development will be responsible for conducting and supervising the day-to-day activities associated with economic development in Atlanta, including developing and implementing the City's economic development strategy, business creation, attraction, retention and expansion, innovation and entrepreneurship.
RFP for FUNDIT Program Coordinator in New Mexico
The New Mexico Economic Development Department is seeking proposals from contractors to help identify a partner who assists in the coordination and administration of the FUNDIT program. As part of an EDA Recovery CARES grant-funded project, EDD is focused on increasing access to capital for communities, local governments and other organizations working to improve the economy in New Mexico.
RFP for Grants Coordinator in New Mexico
The New Mexico Economic Development Department (EDD) is seeking proposals from contractors to help identify a partner who can coordinate and help to manage many of its current and future grant
programs.
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This Week's Headlines |
A Refreshed Approach for Young, Beginning, and Small Farmers in Michigan and Wisconsin
MI Farm News | Feb. 9 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | Rural Development
Bill Looks to Add Vacant Lots, Raise Valuations Target to ‘MicroTIF' Law
The North Platte Telegraph | Feb. 9 | Legislative | Redevelopment | State Finance Program | Tax Increment Finance (TIF)
Future of Agriculture Report Urges Immediate Action to Strengthen Vermont Food System
VermontBiz | Feb. 9 | Access to Capital | Food Systems Finance | State Finance Program
L.A. County Supes Sign off on $72.4M for Vermont-Manchester Development
Urbanize LA | Feb. 9 | Bond Finance | Housing Finance
Santa Clara County Greenlights $75.5M for Six New Affordable Housing Developments
sanjoseinside | Feb. 9 | Bond Finance | Energy Finance | Green Finance | Housing Finance
The Biden Administration is Spending Billions to Clean Up Toxic Abandoned Coal Mines
Grist | Feb. 9 | Energy Finance | Green Finance | Infrastructure Finance
TIF Program Moves Forward in Wauseon, OH
Fulton County Expositor | Feb. 9 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Way Cleared for Lower Rent on Some Ellie Apartments in Eden Praire, MN
Eden Praire Local News | Feb. 9 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Small Business Administration Loans Available to Some Michiganders
WILX10 | Feb. 8 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Rural Development | U.S. Small Business Administration (SBA)
Buncombe County, NC Wants to Build 3K Units, Invest $62M, Use Tax Credits
Citizen Times | Feb. 7 | Incentives | Tax Credits
City Eyes $12M in Incentives for Apartment Complex
Fox 59 | Feb. 7 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Developer Seeking $29M From Dallas, TX City Council for High-Rise Project
The Real Deal | Feb. 7 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Durango School District, CO Lines Up Bond Projects
The Durango Herald | Feb. 7 | Bond Finance
First Green Bank in Nevada Names Founding Executive Director
Sierra Nevada Ally | Feb. 7 | Energy Finance | Green Finance
New Bipartisan Bill Would Increase Capital at Rural Community Banks
The Ripon Advance | Feb. 7 | Access to Capital | Economic Development | Federal | Legislative | Revolving Loan Funds (RLFs) | Rural Development
Two Missouri Bills Would Offer Incentives for Grocery Stores, Urban Farms
Missouri Independent | Feb. 7 | Agriculture Finance | Community Development | Food Systems Finance | Incentives | Rural Development | State Finance Program | Tax Credits
USDA to Invest $1B in Climate Smart Commodities, Expanding Markets, Strengthening Rural America
USDA | Feb. 7 | Access to Capital | Agriculture Finance | Federal | Resiliency | Rural Development | U.S. Dept. of Agriculture (USDA)
City to Approve Incentives for Blighted Land in West Springfield, MO
Springfield News Leader | Feb. 5 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Mission Gateway Developers Outline Project Revisions, Alterations to TIF
KSHB-TV | Feb. 4 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Private Activity Bonds for Qualified Broadband Projects
Benton Institute | Feb. 4 | Bond Finance | Federal | Infrastructure Finance | Rural Development
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New Additions to the Online Resource Database |
Private Activity Bonds: An Introduction
Bond Finance
This report provides a brief review of bond fundamentals and a more detailed examination of the rules and definitions surrounding private activity bonds to help clarify the impact of proposed modifications.
Financial Innovations to Accelerate Sustainable Agriculture: Blueprints for the Value Chain
Access to Capital | Agriculture Finance | Bond Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency
The purpose of the report is to equip value chain actors with innovative financial mechanisms and incentive strategies that can be employed in agricultural sustainability projects to support producers in scaling conservation adoption.
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National Sponsor Spotlight |
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Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 500 lawyers with offices from coast to coast. Their firm serves local, regional and national clients in a practice that spans a wide range of disciplines. They encourage their attorneys to take...
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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. To complement their services, they offer...
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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,...
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Partner Spotlight |
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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...
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital, and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment, and job creation.
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New Members |
Vermont Community Loan Fund - Montpelier, VT
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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