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Development Finance Review Weekly - February 8, 2024

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Development Finance Review Weekly
February 8, 2024
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CDFA Development Finance Review Weekly

Features

The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

Minnesota Farmers Union Foundation RLF to Support Meat and Poultry Processors
Minnesota Farmers Union Foundation is accepting loan applications from meat processors. The foundation has a total of $900,000 in revolving loan funds (RLF) to distribute to support small and medium-sized meat and poultry processors through the Meat and Poultry Intermediary Lending Program (MPILP). The MPILP offers low-interest loans for the startup, expansion, and operation of slaughter and further processing of meat and poultry. Loans of up to $100,000 are available at a 4% fixed interest rate with a term of up to 10 years. Funds can be used to purchase land or equipment, cover startup costs, and make other business investments.

Join the Next Session of the CDFA // BNY Mellon Webinar: Economic Development & Bond Finance
Bonds are a versatile tool when used in conjunction with more targeted approaches to drive economic development. Tune in for this installment, where panelists will share how communities can use bonds in conjunction with tax increment financing, federal legislative programs, and other development financing tools for an array of projects.

New TIF District Coming to the South Side of Evansville, IN
After a formal vote from the Evansville Redevelopment Commission, from Washington Avenue down to the Veterans Memorial Parkway will become a tax increment financing (TIF) area. To break it down: first, Kentucky Avenue becomes a TIF district. Then, the city pushes for new business and development in the area. Finally, once the businesses are functioning and paying taxes, all of that new development raises money to pay for what it costs to redevelop the area in the first place, and the area itself benefits as a whole.

Vermont Announces $29M in SSBCI Venture Capital Investments
The state of Vermont announced the first round of Venture Capital Program investments from Vermont's State Small Business Credit Initiative (SSBCI). The Venture Capital Program is allocating nearly $29 million to venture capital funds to seed fund investments that leverage accelerator programs to make small investments in rural, pre-seed stage companies and in high-growth, technology innovation companies in the healthcare sector. 

New Colorado Tax Incentives to Lower Cost of High-Efficiency Heating and Cooling
Governor Polis and the Colorado Energy Office announced that new Colorado Heat Pump Tax Credits are available to assist Coloradans who are installing eligible heat pump technology for space heating and cooling and water heating. The Colorado legislature established this tax credit along with several other clean energy tax credits when Governor Polis signed HB23-1272 "Tax Policy that Advances Decarbonization" sponsored by Representatives Mike Weissman and Junie Joseph and Senators Steve Fenberg and Lisa Cutter.

Iowa City, IA Municipal Airport Receives $443K for Solar Panel Project
The Iowa City, IA Municipal Airport received a $442,800 grant from the Bipartisan Infrastructure Law to help fund the cost of a solar panel project slated to begin this summer. The funding award was announced by the U.S. Department of Transportation's Federal Aviation Administration (FAA).

U.S. DOT Awards $3.6M for North Dakota's Minot International Airport
The U.S. Department of Transportation (DOT) announced an award of $3.6 million to Minot International Airport. This award, funded by FY 2022 supplemental discretionary grants, will go towards a wildlife hazard removal and drainage improvement project. 

Upcoming Events
Intro Bond Finance WebCourse
Upcoming Webcasts

CDFA Tribal Finance Webinar Series: Federal Funding for Tribal Communities
February 13, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers from federal agencies will discuss financing tools and programs available to tribal nations to promote community health, restore local economies, and protect our environment.

CDFA // BNY Mellon Development Finance Webcast Series: Economic Development & Bond Finance
February 20, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will share how communities can use bonds in conjunction with tax increment financing, federal legislative programs, and other development financing tools for an array of projects.

CDFA Food Systems Finance Webinar Series: Exploring Bonds as the Foundational Financing Tool
February 27, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, speakers will explore the potential for leveraging this foundational financing tool to cultivate resilient and thriving local and regional food systems.

Job & RFP Postings

ACE - Chief Credit Officer
The Chief Credit Officer manages the credit approval process, as well as portfolio monitoring systems for all current and future credit products. The Chief Credit Officer is responsible for helping ACE achieve its social impact goals and for implementing equitable practices in credit management. Email your cover letter, resume, and salary requirements to HR@aceloans.org. Application deadline is February 26, 2024.

ACE - Director of Lending
The Director of Lending is responsible for supervising sales activity that results in mission-based and quality loan production. This position motivates a team of loan officers and develops strategies to ensure that goals of capital deployment and programmatic impact are met. He/She also leads business development for lending and cultivates key strategic partnerships. Email your cover letter, resume, and salary requirements to HR@aceloans.org. Application deadline is February 26, 2024.

CDVCA - Program Manager
CDVCA is seeking a highly motivated individual dedicated to working with high-growth SEDI entrepreneurs to help them succeed and benefit their communities. The successful candidate will help develop the Unlock Capital program nationally, including recruiting, assessing, tracking, and supporting participating businesses and engaging with program mentors, lecturers, technical assistance providers, and volunteers. To apply send a cover letter and resume to: opportunities@cdvca.org

This Week's Headlines

Potential Adjustments to Alabama's Distressed Institutions of Higher Education RLF
ABC 3340 News | Feb. 7 | Economic Development | Education | Revolving Loan Funds (RLFs)

Charlotte, NC May Offer Developers TIF to Revive Uptown Office Conversions
Axios Charlotte | Feb. 6 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)

Maryland's Ag Financing Program Poised to Become Self-Sustaining
Lancaster Farming | Feb. 6 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Pennsylvania Budget Emphasizes Ag Innovation, Education Funding
Lancaster Farming | Feb. 6 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Washington Announces $6M in Local Food Funding
Farm Progress | Feb. 6 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | State Finance Program | U.S. Dept. of Agriculture (USDA) | COVID-19

Demand Remains in NMTC Incentive's Fourth Year With $5B in Allocation Authority
Novogradac | Feb. 5 | Tax Credits | Federal New Markets Tax Credits (NMTCs)

Gov. Hochul Awards More Than $15M in Regional Economic Development Awards Statewide
State of New York | Feb. 5 | Community Development | Economic Development | State Finance Program | Tax Credits

Texas Co-op Launches Affordable Battery Storage Subscription Service
NRECA | Feb. 5 | Energy Finance | Tax Credits

U.S. Department of Transportation Announces $110M in Natural Disaster Relief
U.S. Department of Transportation | Feb. 5 | Development Finance Toolbox | Federal | Infrastructure Finance | U.S. Dept. of Transportation (DOT)

U.S. Federal Transit Administration Awards Seattle, WA $64.2M for RapidRide Project
Intelligent Transport | Feb. 5 | Development Finance Toolbox | Federal | Infrastructure Finance | U.S. Dept. of Transportation (DOT) | Transportation

Michigan's Precision Hardwoods Granted $100K for Increased Manufacturing Capacity
Morning AgClips | Feb. 4 | Access to Capital | Agriculture Finance | State Finance Program

Pennsylvania Veteran Farming Network Announces Grant Opportunity
Morning AgClips | Feb. 4 | Access to Capital | Agriculture Finance | Social Finance

Lander, WY Secures $44.9M in Funding for Vital Infrastructure Upgrades
County 10 | Feb. 2 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs)

Tax Bill Expected to Spur Affordable Housing Development
JD Supra | Feb. 2 | Housing Finance | Legislative | Tax Credits | Low Income Housing Tax Credits (LIHTCs)


National Sponsor Spotlight

CohnReznick CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax, and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...
Frost Brown Todd LLP Frost Brown Todd LLP
With over 600 lawyers across their eight-state footprint, Frost Brown Todd LLP offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
Grow America | Formerly NDC Grow America | Formerly NDC
NDC's work focuses on HOMES, JOBS, and COMMUNITY. Founded as a national nonprofit in 1969, NDC has worked for over 50 years fulfilling its mission to increase the flow of capital for investment in low-income communities. NDC directs capital to...

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 website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail Practitioner's Guide to Economic Development Finance 3rd Edition
The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities.

New Members

Brevet Capital - New York, NY

Michigan Economic Development Corporation - Lansing, MI

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor