About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

Development Finance Review Weekly - July 29, 2021

Having trouble viewing this newsletter? View it online.
Development Finance Review Weekly
July 29, 2021
Subscribe
View Archives
CDFA Development Finance Review Weekly

Spotlight

Last Chance! CDFA Virtual Summer School Starts Next Week
CDFA Virtual Summer School is happening August 2-12. Learn from our expert practitioners during seven training courses and experience CDFA's most interactive educational event of the year - all from the comfort of your own home or office. Plan your summer learning with CDFA!

Features

Infrastructure Bill Advanced With $550B in New Spending
The Senate on Wednesday voted to advance bipartisan infrastructure legislation, capping weeks of late-night negotiations and launching the next step in what has become one of President Joe Biden's key domestic priorities. By a 67-32 vote, the Senate moved to invoke cloture on a motion to proceed to the legislative vehicle for a bipartisan infrastructure plan with $550 billion in new spending.

EDA Announces American Rescue Plan Programs
U.S. Secretary of Commerce Gina M. Raimondo announced that the Department of Commerce's Economic Development Administration (EDA) will implement a series of programs, collectively called Investing in America's Communities, to equitably invest the $3 billion it received from President Biden's American Rescue Plan Act to help communities across the country build back better.

Ohio Renews 10% Income Tax Credit for Opportunity Zone Investments
Ohio Governor Mike DeWine signed into law a state budget that renews funding for the Ohio OZ income tax credit for an additional two-year term. In 2020, Ohio taxpayers saved $120 million in income tax by investing into 73 opportunity zone projects throughout Ohio.

State Incentive Program Trends: Remote Work
The scope of continued remote work adoption, the range of effects on urban versus rural communities, and how individual choices about where to live may (or may not) be changing all remain unclear. Smart Incentives researched recently approved state incentive programs and found four new initiatives.

Development Fund of the Western Reserve Promotes New Executive Director, Rachel Bridenstine
Rachel Bridenstine has been promoted to Executive Director of The Development Fund of the Western Reserve (DFWR), a certified Community Development Entity of the U.S. Treasury CDFI Fund, which is managed by the Development Finance Authority of Summit County. Rachel will direct and manage all initiatives of DFWR to ensure effective operations, regulating compliance, and maximizing community impact.

New York Launches $100M Tax Credit for Theater Revival
New York is launching a new $100 million state tax credit program designed to give a much-needed boost to musical and theater productions and help generate additional tourism income for the city. The $100 million New York City Musical and Theatrical Production Tax Credit is a two-year program designed to support the entertainment and tourism industries in New York City.

Native-Led Organizations Secure $3M to Expand Native-Led Entrepreneurship Support
The W.K. Kellogg Foundation has awarded a $3 million grant to four Native-led organizations to establish a new entity that fosters and strengthens entrepreneurship in Indigenous communities across the U.S. Southwest. The new entity will serve as a "backbone" for the four organizations, enabling them to share fundraising, administrative, legal, data, and marketing and communications resources, and offering the potential to establish a fund to invest in Native entrepreneurs.

Upcoming Events
CDFA Virtual Summer School
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Municipal Bond Borrowers Missing Infrastructure Window of Opportunity
While the Biden administration and Congress hash out plans for national infrastructure spending, shrinking borrowing costs across sectors and credit quality offer an opportunity that state and local governments shouldn't waste, Merritt Research Services says in a new report.

Tourism-Destination Airports Resurge as Domestic Travel Gains
As the coronavirus pandemic continues to impede international travel, domestic flights have become more important to the economic health of airports in the U.S. According to a Moody's report released July 19, travel volume to some tourist destinations this spring exceeded levels last seen in pre-pandemic 2019.

Water Pressure: As Florida's Usage Surges, Recycling Gets a Second Look
To meet the growing demand for water in the state, the Florida Department of Environmental Protection has created a campaign highlighting the benefits of recycling. To ensure continued economic growth, the state has seen a need to diversify into alternative water sources to meet projected needs as well as respond to drought and protect the environment.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Upcoming Webcasts

CDFA SSBCI Briefing
Friday, July 30, 2021 - 1:00 PM - 2:00 PM Eastern

CDFA // BNY Mellon Development Finance Webcast Series: Unlocking Capital for BIPOC-owned Businesses
Tuesday, August 17, 2021 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will be discussing creative financing approaches to minimize barriers and increase access to capital for minority-owned businesses across the country.

CDFA Federal Financing Webinar Series: Investing in Critical Community Facilities
Tuesday, August 24, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, several federal agencies will discuss their financing solutions for local community facilities and how to coordinate with partners.

Legislative & Federal Affairs

A look at the latest legislative news impacting the development finance industry:

House Agriculture Committee Advances $8.5B Disaster Aid Bill
The House Agriculture Committee advanced a bill to provide as much as $8.5 billion in supplemental disaster aid for farmers and ranchers who faced disaster both in 2020 and 2021. The bill, passed unanimously, will expand coverage of losses under USDA's Wildfire Hurricane Indemnity Program-Plus (WHIP-Plus), the derecho that hit Midwestern producers last summer, producer losses from the polar vortex, and more.

Visit CDFA's Advocacy Center to view the latest legislative and federal updates, explore CDFA's Policy Agenda, track legislation relevant to development finance, get involved in CDFA-led initiatives, and more.

Job & RFP Postings

City of St. Cloud, FL Hiring Community Redevelopment Specialist
The City of St. Cloud, Florida invites applications for the position of Community Redevelopment Specialist. This position requires an individual to assist with management of the daily operations of the Community Redevelopment Agency (CRA) and implement Agency programs and plans.

Invest Atlanta Seeking Assistant Director for Westside Initiatives
The Assistant Director - Westside Initiatives (ADWI) is responsible for creation, management and implementation of programming within a geographic area including the Westside, Hollowell/ML King and Perry Bolton TADs, University Choice Neighborhoods, Bowen Choice Neighborhoods, and Proctor Creek.

This Week's Headlines

New Megaprojects Incentives in Ohio
Vorys, Sater, Seymour and Pease LLP | Jul. 28 | Access to Capital | Economic Development | Federal | Incentives | Legislative | Member News | State Finance Program

SBA Reaches New Milestone Awarding $7.5B in Shuttered Venue Operators Grants to Over 10,000 Venues
U.S. SBA | Jul. 28 | Access to Capital | Community Development | Economic Development | Federal | Social Finance | U.S. Small Business Administration (SBA)

AppHarvest Secures $91M Financing Arrangement With Equilibrium Capital
Yahoo Finance | Jul. 27 | Access to Capital | Agriculture Finance | Food Systems Finance | Green Finance | Innovation Finance | Resiliency

Fairstead Rides LIHTC Program Into Kentucky
Real Estate Weekly | Jul. 27 | Access to Capital | Housing Finance | State Finance Program | Tax Credits

MSHDA Awards $27.9M in Tax Credits for Affordable Housing Development Projects
Grand Rapids Business Journal | Jul. 27 | Access to Capital | Economic Development | Housing Finance | Redevelopment | Tax Credits

USDA Invests $14M in Rural Economic Development Projects in 10 States
USDA | Jul. 27 | Access to Capital | Economic Development | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)

Detroit, MI Touts Low-Income Tax Credits Toward $150M in Affordable Housing Projects
Detroit News | Jul. 26 | Access to Capital | Economic Development | Housing Finance | Tax Credits

Eagle Mill Redevelopment in Lee, MA Receives $16M in Tax Credits for Housing
The Berkshire Edge | Jul. 26 | Access to Capital | Economic Development | Historic Preservation | Housing Finance | Tax Credits

Lease-to-Own Home Ownership: New Affordable Housing Project in Rochester, NY
WROC-TV | Jul. 26 | Access to Capital | Economic Development | Housing Finance | Redevelopment | State Finance Program | Tax Credits

State Housing Agency Supports 36-Unit Project by Antler Stadium in Kerrville, TX
Virtual Builders Exchange | Jul. 26 | Access to Capital | Economic Development | Housing Finance | State Finance Program | Tax Credits

USDA Announces $16.6M in Funding Opportunities to Support Socially Disadvantaged and Veteran Farmers and Ranchers
USDA | Jul. 26 | Agriculture Finance | Federal | Social Finance | U.S. Dept. of Agriculture (USDA)

Wisconsin TIF - 2020 in Review
Baker Tilly | Jul. 26 | Access to Capital | Economic Development | Redevelopment | Tax Increment Finance (TIF)

Food Incubator CommonWealth Kitchen Buys Its Space in Dorchester, MA
Boston Herald | Jul. 23 | Access to Capital | Community Development | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Social Finance

How the Sacramento, CA Region Aims to End Food Insecurity
The Sacramento Bee | Jul. 22 | Community Development | Economic Development | Federal | Food Systems Finance | Social Finance | U.S. Dept. of Agriculture (USDA) | U.S. Environmental Protection Agency (EPA)


New Additions to the Online Resource Database

Community-Rooted Economic Inclusion Playbook
Access to Capital | Community Development | Economic Development | Redevelopment | Social Finance
This playbook provides concrete guidance on how to implement a community-rooted approach to economic inclusion—one that can build wealth within underinvested communities, while reducing economic inequities within entire cities by connecting more people, places, and small businesses to regional economic opportunity.

Enhancing Local Workforce Development and Building for the Future
Access to Capital | Organizational Management | Public-Private Partnership (P3) Financing | Rural Development | Social Finance | Webcasts
Automation, shifting demographics, COVID-19 and increased telework opportunities are reshaping the workforce landscape amid shifting industry needs. Counties, through local and regional partnerships and workforce development boards, are working with public, private, and nonprofit partners to help train job seekers and connect them with local employers.


National Sponsor Spotlight

PGAV Planners, LLC PGAV Planners, LLC
PGAV is a global leader in planning, design, and development consultation to public, corporate, and institutional clients. For more than fifty years, PGAV has created unique approaches and solutions to community planning and development issues, and...
SB Friedman Development Advisors SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
Stern Brothers Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...

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.

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

Archives

Displaying 1 - 30 of 783

April 25, 2024
April 18, 2024
April 11, 2024
April 4, 2024
March 28, 2024
March 21, 2024
March 14, 2024
March 7, 2024
February 29, 2024
February 22, 2024
February 15, 2024
February 8, 2024
February 1, 2024
January 25, 2024
January 18, 2024
January 11, 2024
January 4, 2024
December 28, 2023
December 21, 2023
December 14, 2023
December 7, 2023
November 30, 2023
November 23, 2023
November 16, 2023
November 9, 2023
November 1, 2023
October 26, 2023
October 19, 2023
October 12, 2023
October 5, 2023




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