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Development Finance Review Weekly - May 5, 2022

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Development Finance Review Weekly
May 5, 2022
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CDFA Development Finance Review Weekly

Features

OPM Director Highlights ‘Call to Service' to Hire Thousands to Implement Infrastructure Law
Office of Personnel Management Director Kiran Ahuja on Tuesday highlighted a "call to service" to encourage people to apply for the more than 8,000 jobs authorized by the bipartisan infrastructure law signed by President Biden last year.

SSBCI Technical Assistance Grant Program Guidelines
This document provides guidance on the application, award requirements, and administration of the TA Grant Program. Section II describes the available TA Grant Program funding. Section III defines eligible recipients, eligible beneficiaries, and eligible TA providers. Section IV provides detail on qualifying TA services. Section V describes the application process, including the components of the required TA plan, and more.

Senate Passes Legislation to Get Minnesota Back on the Right Track
On Monday, the Minnesota Senate debated and passed legislation addressing a wide range of topics including State Government Reform, Election Security, Veterans Affairs, and Transportation. The bills work to increase election transparency and participation, support Minnesota veterans, and invest in state infrastructure.

Southeast Nebraska Voters to Consider $43M Bond to Build Consolidated School in Tecumseh
Officials at Johnson County Central Public Schools are floating a $43 million bond issue to pay for new pre-K-12 facilities in Tecumseh that would consolidate district schools spread across two towns. Voters will decide on whether to approve the bond to pay for the 125,700-square-foot facility as part of the statewide primary election.

The Oklahoma Supreme Court Approves $800M in Bonds to Lessen Burden of Ice Storm
The Oklahoma Supreme Court on Tuesday approved the issuance of $800 million in bonds to lessen the financial burden on ratepayers stemming from a February 2021 winter storm. The Oklahoma Development Finance Authority asked the court to approve the issuance following legislation that authorized it.

How Louisville, KY Plans to Use Next $87M in ARP Funds
$10 million would help remediate the Rhodia brownfield site in Park Hill which once housed manufacturing firms that made products like lacquers, varnishes and coatings until the most recent operating plant closed in 1994. The buildings at the 16.8-acre site south of Hill Street and near railroad tracks have been demolished, and the new funding would go for brownfield remediation necessary for a project to proceed.

Ohio Awards Brownfield Money to 24 Projects in Cuyahoga, Summit, Lorain Counties
The Ohio Department of Development announced the awarding of more than $60 million in brownfield funding for 78 projects around the state, including 13 in Cuyahoga County, six in Summit County and five in Lorain County. "This money will be instrumental in bringing much-needed economic growth to several communities, many of which include underserved neighborhoods that have long been neglected," Cuyahoga County Executive Armond Budish said in a prepared statement.

Fact Sheet: New Data Shows Progress on Biden-Harris Commitment to Equity in Small Business Relief
The Biden-Harris Administration has made delivering equitable relief to hard-hit small businesses a top priority. The latest data show that the Administration's focus has resulted in a turnaround. This Administration has put equity at the heart of the delivery of more than $450 billion in small business relief since taking office.

The Small Business Boom Under the Biden-Harris Administration
This new White House report details the historic recovery for America's small businesses and demonstrates how the Biden-Harris agenda laid the foundation for this small business boom. By providing Americans with greater financial security, and delivering more than $450 billion in emergency relief to small businesses, the Biden-Harris Administration has helped create the conditions for unprecedented business and job creation.

Colorado House Panel Passes Bill Dealing with Metro Districts' Construction Bonds
A House panel narrowly passed a bill that aims to prevent metro district developers from working both sides of a financing arrangement in which they initially approve the sale of government construction bonds on a project and then purchase them for themselves. Following several hours of testimony on House Bill 22-1363, members of the  House Transportation & Local Government voted, 7-6, to send the measure to the full body for consideration.

Upcoming Events
Intro Housing Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

North Carolina Approves Bonds for Charlotte, Asheville Airports
The North Carolina Local Government Commission approved more than $1.5 billion in financing for local government projects across the state, including about $900 million for infrastructure improvements at the Charlotte and Asheville airports. The commission approved the city of Charlotte's request to issue up to $425 million in revenue bonds for the Charlotte Douglas International Airport.

IIJA Funding Opens Door for More Infrastructure P3s, Panelists Say
States are contemplating creative public-private partnerships and other methods as they wrestle with how to leverage the $550 billion Infrastructure Investment and Jobs Act into the trillions needed for infrastructure projects across the country. Panelists discussed public-private partnerships and other innovative solutions to close what studies say could grow to a $10 trillion gap in infrastructure needs by 2050.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.

Upcoming Webcasts

CDFA Food Systems Finance Webinar Series: Where's the Beef? Financing Meat Processing Infrastructure
Tuesday, May 10, 2022 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will highlight financing solutions to reinvest in local meat processing facilities to expand market opportunities for livestock farmers across the country.

CDFA // BNY Mellon Development Finance Webcast Series: What Development Finance Needs to Know about Web3
Tuesday, May 17, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will catch you up on the landscape of Web3 and discuss how development finance fits into the next wave of digital currency.

Exploring Equitable Capital Technology (EC-Tech) in Development Finance
Tuesday, May 24, 2022 - 2:00 PM - 3:00 PM Eastern
CDFA is launching our new Equitable Capital Technology Initiative, which will combine technology solutions with training and technical assistance for lenders to help increase the flow of capital to minority entrepreneurs. Equitable capital technology (or EC-Tech) is emerging as a driver of unlocking capital for small and medium-sized businesses not a fit for venture capital, nor large enough for a traditional bank loan.

Job & RFP Postings

RFQ for Joint Venture Real Estate Development Partner with Galveston Historical Foundation
The Galveston Historical Foundation has released this solicitation to the development community to identify a partner to redevelop Galveston's historic Santa Fe Building, also known as Shearn Moody Plaza. The result of this engagement is a strong desire by GHF to identify a developer to engage deeply with the property, the organization and other relevant stakeholders in a long-term joint venture partnership. The successful respondent to this solicitation will thus articulate how it would work with GHF in conceiving, executing and operating the redevelopment of the SFB property, including proposing specific roles and responsibilities for each partner.

NCRC CDF-Program Specialist Position
NCRC CDF is seeking a Program Specialist who is an exceptional multi-tasker, that is goal-oriented and highly detailed. The Program Specialist will oversee a high volume of small business loan inquiries from application through underwriting, funding and post-closing activities, manage existing borrower customer support and provide overall program support within the small business and affordable housing programs.

RFI-NJEDA Seeks Input on Establishment of Diverse Developer Fund
The New Jersey Economic Development Authority (NJEDA) today announced that it has issued a Request for Information (RFI) to better understand the challenges faced by minority- and women-owned developer enterprises ("MWDE") in New Jersey in accessing capital, particularly businesses that are engaged in the development of residential and commercial real estate.

This Week's Headlines

Casey Expresses Federal Infrastructure Benefits for Rural Pennsylvania
Morning Times | May. 4 | Community Development | Economic Development | Infrastructure Finance

L.A. County, CA Seeks Bids to Bring High-Speed Internet to Poor Black, Latino Areas
Capital & Main | May. 4 | Community Development | Economic Development | Infrastructure Finance | Public-Private Partnership (P3) Financing | Social Finance

What The Infrastructure Bill Means for Electric Cars: Siemens USA CEO
Yahoo Finance | May. 4 | Energy Finance | Green Finance | Infrastructure Finance

DED Awards $6M in Tax Credits to 37 Organizations Through the Youth Opportunities Program
Missouri Department of Economic Development | May. 3 | Community Development | Tax Credits

Brownfield Redevelopment Targeted at Summit in Amsterdam, NY
The Daily Gazette | May. 2 | Access to Capital | Brownfield Financing | Economic Development | Legislative

State Money Will Clean Up Polluted Site for Redevelopment in Loveland, OH
Cincinnati Enquirer | May. 2 | Brownfield Financing | Redevelopment

Whole Cities Foundation Invests More Than $1M in Newark, NJ Initiatives to Advance Community Health
NewsDirect | May. 2 | Access to Capital | Food Systems Finance | Foundations

Brownfield Authority Approves Funding for New Workforce Housing Development in Grand Traverse, MI
The Ticker | Apr. 29 | Brownfield Financing | Housing Finance | Redevelopment

Hancock County, IN Receives State Money for Brownfield Projects
WFIN Local News | Apr. 29 | Brownfield Financing | Redevelopment | State Finance Program

Hillsborough Clean Energy Advocates Applaud DeSantis' Veto of The Rooftop Solar Bill
WUSF Public Media | Apr. 29 | Energy Finance | Green Finance | Legislative

Jefferson County, OH Awarded Brownfield Remediation Funds
Times Leader Online | Apr. 29 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment | State Finance Program

Parker Village Would Keep Energy Wealth Circulating Within a Detroit-Area Community
Microgrid Knowledge | Apr. 29 | Community Development | Energy Finance | Green Finance | U.S. Dept. of Energy (DOE)

Texas Stumbles in Its Effort to Punish Green Financial Firms
NPR | Apr. 29 | Energy Finance | Green Finance | Legislative

The 2021 Paycheck Protection Program Reboot
National Bureau of Economic Research | Apr. 29 | Access to Capital | Community Development | Disaster Recovery & Relief | Federal

Essex Crossing in New York, NY Preps New 9-Story Development With Brownfield Cleanup
Bowery Boogie | Apr. 28 | Access to Capital | Brownfield Financing | Community Development | Economic Development | Redevelopment

From Dump to Movie Studio? Fort Lauderdale, FL Working on That Script
South Florida Sun Sentinel | Apr. 28 | Access to Capital | Brownfield Financing | Economic Development | Innovation Finance | Redevelopment


New Additions to the Online Resource Database

Business Boom Under The Biden-Harris Administration
Economic Development | Federal | Redevelopment | State Small Business Credit Initiative (SSBCI)

Small Business Administration and Business Forward Launch The Small Business Digital Alliance
Access to Capital | Community Development | Federal | Innovation Finance


National Sponsor Spotlight

Ice Miller LLP Ice Miller LLP
Ice Miller is nationally recognized for its public-private partnerships (P3s), municipal bond and economic development experience. Ice Miller is a full service law firm dedicated to helping our clients stay ahead of a changing world. With over 340...
KeyBanc Capital Markets KeyBanc Capital Markets
KeyBanc Capital Markets, headquartered in Cleveland, Ohio, is a full service investment banking firm serving issuers of tax-exempt debt for over 40 years. The Public Finance Municipal Banking Group operating out of offices in Cleveland, Chicago, New...
Kutak Rock LLP 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...

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 Tax Increment Finance Best Practices Reference Guide 2nd Edition
The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.

New Members

City of Hagerstown - Hagerstown, MD

West Virginia Governors Office - Charleston, WV

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

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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