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CDFA Energy Finance Update - October 3, 2023

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CDFA Energy Finance Newsletter
October 3, 2023
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Energy Finance Update


2023 CDFA National Development Finance Summit Early Bird Rates Ending
The 2023 CDFA National Development Finance Summit is one month away and this is your last chance to lock in early bird pricing. Register by October 13 to save! We're excited to see you in Philadelphia!

DevelopOhio Economic Incentives Toolkit - An Effective Economic Development Toolkit for Growth and Job Creation
This guide from Bricker Graydon outlines the array of tools with which Ohio economic development practitioners can intervene to stimulate or induce development to occur in their communities. This guide also assists practitioners by identifying programs, clarifying changes to existing programs, and introducing effective new options to consider. If knowledge is power, this guide provides practitioners with the unique ability to empower their communities or businesses to accomplish a variety of economic development objectives.

Office Space Redeveloped by PACE and Tax Credits in San Antonio, TX
The Allen, situated in the Monte Vista Historic District, is breathing new life into the former Allen's Flowers & Antiques building. The project is taking full advantage of various government incentive programs to support sustainable development, including federal and state historical rehabilitation tax credits, property assessed clean energy (PACE) financing, the federal solar investment tax credit program, and the City of San Antonio historic rehabilitation property tax and permit fee abatements.

NWILED Helps Launch New C-PACE Programs for City of Galena and Jo Daviess County, IL
Northwest Illinois Economic Development (NWILED) is excited to announce the creation of a new financing incentive for investors and entrepreneurs doing business within the City of Galena and Jo Daviess County. Renovating or constructing buildings for a clean energy economy is expensive, and now these clean energy projects will become more affordable for local businesses after the Illinois Finance Authority PACE Program was established by the Jo Daviess County Board on August 8, 2023, and by the City of Galena on August 14, 2023.

BlueWave Harvests $91M in Financing for Massachusetts Agrivoltaic Projects
BlueWave, a Boston-based clean energy IPP and B Corp, reached a major financing milestone involving $91 million. The financing includes a debt raise of $64 million with KeyBank and a tax equity raise of $27 million with U.S. Bancorp Impact Finance. It is expected to support the construction as well as long-term financing of five agrivoltaic projects in Massachusetts, which support simultaneous use of land for both solar plants and agriculture, benefiting all parties impacted, including landowners, farmers, and surrounding communities.

$51M Affordable Housing Development Completed in Westchester County, NY
Governor Kathy Hochul announced the completion of a $51 million, all-electric affordable housing development that will bring 82 affordable apartments to downtown Peekskill in Westchester County. Financing for this development included $8.9 million in permanent tax-exempt bonds, $12.1 million in federal Low-Income Housing Tax Credits (LIHTC), and $12.3 million in subsidy from New York State Homes and Community Renewal.

Missouri Green Banc and Allectrify Lead $400K C-PACE Loan in Rural Missouri
The Missouri Green Banc, a nonprofit green lender and affiliate of the Missouri Clean Energy District, and Allectrify, a public benefit corporation that specializes in helping banks offer commercial property assessed clean energy (C-PACE) loans to developers and small-business owners, announced the closing of a $400,000 C-PACE loan to finance the installation of solar PV systems for Porter Farms in Mercer County, MO.

Connecticut Retirement Community Made Possible with C-PACE and Tax Credits
The Meadow Ridge retirement community in Redding, CT has signed an agreement with Verogy to build a 732 kW solar installation. When complete, the project will supply Meadow Ridge with more than 850,000 kWh. The project is made possible with a commercial property assessed clean energy (C-PACE) loan from the Connecticut Green Bank, zero-emission renewable energy credits through Eversource, and investment tax credits.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Financing Water Infrastructure Projects
October 17, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, presenters will examine how communities across the country are addressing challenges in financing water infrastructure projects.

CDFA Tribal Finance Webinar Series: Funding Healthcare Facilities on Tribal Nation Reservations
October 24, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss financing tools and programs that tribal nations are using for healthcare facilities that better serve their unique community needs.

Energy Finance News

Lancaster County, PA Approves Commercial Property Assessed Clean Energy Program
MyChesCo | Sep. 20 | Agriculture Finance | Energy Finance | Infrastructure Finance | Property Assessed Clean Energy (PACE)

U.S. Inflation Reduction Act: A Year One Progress Summary
Energy Post | Sep. 19 | Energy Finance | Green Finance | Legislative | Resiliency | Tax Credits

Oklahoma Agricultural Producers and Small Businesses Receive $4M in USDA Grants
The Duncan Banner | Sep. 13 | Agriculture Finance | Energy Finance | Food Systems Finance | Green Finance | Legislative | Rural Development

HUD Announces $18M for Energy Efficiency in Low-Income Rental Homes
U.S. Department of Housing and Urban Development | Sep. 13 | Energy Finance | Green Finance | Housing Finance | Legislative | U.S. Dept. of Housing & Urban Development (HUD) | Energy Efficiency Programs | Legislative Activities

U.S. EDA Invests $4.4M for Infrastructure Improvements in Oregon
U.S. Economic Development Administration | Sep. 12 | Development Finance Toolbox | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance | Transportation | Water Finance | Economic Adjustment Assistance Program

USDA Invests $49M Into Water Infrastructure in Rural Kansas
KCUR | Sep. 11 | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance | Water Finance | Legislative Activities | Drinking Water | Sewage & Waste

Forefront Power Partners with NT Solar for Landmark $65M Solar Portfolio in California
PR Newswire | Sep. 6 | Energy Finance | Tax Credits

U.S. Department of Energy Announces $125M in Grid Resilience Grants
U.S. Department of Energy | Sep. 6 | Energy Finance | Federal | Infrastructure Finance | Tribal Finance | U.S. Dept. of Energy (DOE)

Monroe, OR Celebrates State Funding for Water Infrastructure Upgrades
KPIC | Sep. 6 | Bond Finance | Infrastructure Finance | Water Finance

Basis Climate Closed Its Largest $100M Clean Energy Tax Credit Transfer
Businesswire | Sep. 6 | Energy Finance | Tax Credits

Biden Making $20B Available From 'Green Bank' for Clean Energy Projects
Spectra | Sep. 6 | Community Development | Energy Finance | Green Finance

Clayton County, GA Water Authority Awarded $16M for Water Treatment Plant Upgrades
Clayton News Daily | Sep. 5 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance

U.S. EPA Awards New England States $24M to Plan for Pollution Reduction
American City & County | Sep. 5 | Energy Finance | Federal | Green Finance | Resiliency | Tax Credits

Water Finance May be New Path Forward for Irrigated Agriculture
Farm Progress | Sep. 5 | Access to Capital | Agriculture Finance | Water Finance

USDA Provides $4M to Rural Oklahoma Businesses for Renewable Energy Systems
KOSU | Sep. 5 | Energy Finance | Federal | Green Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

$6M in Grants for Farmers, Ranchers, and Rural Small Businesses in Washington
Office of U.S. Senator Murray | Sep. 5 | Agriculture Finance | Energy Finance | Green Finance | Legislative | Rural Development | Energy Efficiency Programs | Legislative Activities

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 visit CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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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
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