PACE Equity recently completed funding for the new Homewood Suites and Hilton Garden Inn in Easton. PACE Equity funded 22 percent of the capital stack, approximately $10.4 million out of a $47.5 million dollar capitalization.

MassDevelopment issued a $2.8 million tax-exempt bond to assist two western Massachusetts-based manufacturers in the purchase of 2.87 acres of vacant land, and construction of a 24,400 square foot manufacturing facility.

The IRS has rescheduled the public hearing on the proposed Opportunity Zones regulations for February 14, 2019. The original hearing, scheduled for January 10, 2019, was postponed due to the government shutdown.

Under the Rule, governmental entities that issued securities were required to enter into continuing disclosure agreements. This amendment may or may not increase the future financial reporting obligations of public entities. The SEC amendment to the Rule will take effect on February 27, 2019.

Tennessee Governor Bill Lee issued an executive order requiring all 22 state executive departments to assess their current impact on distressed rural areas along with recommendations on how they will accelerate plans to serve rural Tennesseans better.

The New Markets Tax Credit Coalition is sending a sign-on letter to Congress requesting the permanent extension and expansion of the New Markets Tax Credit. CDFA has signed-on to the letter, and asked all development finance stakeholders to do the same.

Seven U.S. senators and nine members of the House of Representatives – all original co-sponsors of the Investing in Opportunity Act – sent a letter to Treasury Secretary Steven Mnuchin calling for further clarity on several issues related to the OZ regulations.

The National Association of Bond Lawyers sent a letter to top officials of the IRS and Treasury requesting regulatory clarification on the permissibility of using veterans' preferences in projects financed with multifamily private activity bonds.

With Rule 15c2-12 amendments set to take effect at the end of February, issuers at the Government Finance Officers Association meeting aired out their confusion over how the changes will affect their continuing disclosure responsibilities.

During this installment of the CDFA // BNY Mellon Webcast Series, our expert speakers will think outside the silo and recognize the food system as an economic development tool by discussing innovative financing to fill the gaps of regional food systems.

The Vice President of Community Development Lending will be responsible for originating and evaluating risks associated with community development and affordable housing real estate while creatively developing solutions to complex financing, underwriting and closing issues.

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