Development Finance Review Weekly - September 5, 2024
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Features |
Dive into the Future of Infrastructure Financing with IIJA Bond Categories!
Are you ready to explore groundbreaking opportunities in infrastructure financing? Join us for an insightful webcast in the CDFA // BNY Development Finance Webcast Series where we'll delve into the new bond categories introduced by the Infrastructure Investment and Jobs Act (IIJA). During this installment, panelists will provide an overview of these two new categories and illustrate how they might be better utilized in communities across the country. Register now and be part of the conversation shaping the future of infrastructure financing!
Nevada Co-op Receives $80.3M PACE Loan for Solar, Storage Systems
A pair of cooperative projects in Nevada that will provide clean energy while bolstering grid resilience and reliability received a new loan award through the Department of Agriculture's (USDA) $1 billion Powering Affordable Clean Energy program. USDA awarded an $80.3 million PACE loan to Valley Electric Association to help build a 35-megawatt energy storage system to serve Pahrump and a 2-megawatt solar power and energy storage system to serve the Fish Lake Valley region.
Unlock Funding: Join CDFA's Greenhouse Gas Reduction Fund Workshop
Join CDFA for an exclusive online workshop that will dive deep into the Greenhouse Gas Reduction Fund (GGRF) and its pivotal components, including the $14 billion National Clean Investment Fund (NCIF) and the $6 billion Clean Communities Investment Accelerator (CCIA). The GGRF Readiness Workshop will equip you with the knowledge and tools needed to navigate and leverage these significant funding opportunities effectively. Don't miss out on the chance to enhance your funding strategy and boost your project's success!
Municipal-Bond Market Boom With Mega-Deals
It's already a record-setting year for muni-bond sales, and the relentless pace of mega-deals — those over $1 billion — displays little signs of slowing. State and local governments rushing to raise cash ahead of the presidential election in November have driven sales to $325 billion so far this year, an all-time high for the period, according to data compiled by Bloomberg going back to 2013. Some $65 billion of those offerings are mega-deals, the most in at least a decade.
Bill Would Encourage Conversion of Underused Commercial Buildings to Housing
Nearly $1 trillion in U.S. commercial real estate loans are coming due this year. Faced with vacant office buildings and a shortage of millions of homes to meet demand, a bipartisan group of lawmakers is trying to make it easier for developers to convert underused properties into housing. A bill introduced by U.S. Reps. Mike Carey (R-Ohio) and Jimmy Gomez (D-Calif.) would create a temporary 20% tax credit for qualified property conversion expenditures.
Expansion of Clean Energy Tax Credits Proposed
The Treasury Department and the IRS have presented proposed rules that would expand clean energy tax credits to low-income communities. The rules would create a new Low-Income Communities Bonus Credit Program, a bonus tax credit within the Clean Electricity Low-Income Communities Bonus Credit Program created by the Inflation Reduction Act. The new rules would make clean energy tax credits available for other technologies, like hydropower and geothermal, in addition to wind and solar.
USDA Launches Debt Consolidation Tool to Increase Farmer, Rancher Financial Viability
The U.S. Department of Agriculture (USDA) is announcing the launch of the Debt Consolidation Tool, an innovative online tool available through farmers.gov that allows agricultural producers to enter their farm operating debt and evaluate the potential savings that might be provided by obtaining a debt consolidation loan with USDA's Farm Service Agency (FSA) or a local lender.
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Upcoming Events |
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Upcoming Webcasts |
CDFA-Bricker Graydon Webinar Series: Financing Green Energy with PACE and Special Assessments
September 10, 2024 - 2:00 PM - 4:00 PM Eastern
Communities are reinforcing tax increment financing (TIF) districts with special assessments and combining TIF with tax credits, tax-exempt bonds, subordinate loan programs, and other federal tools to channel funding toward improvements in distressed or underdeveloped areas. During this session, speakers will discuss the creative ways to use TIF and how to facilitate the successful financing of high-impact revitalization projects.
CDFA // BNY Development Finance Webcast Series: Exploring New IIJA Bond Categories
September 17, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series, panelists will provide an overview of these two new categories and illustrate how they might be better utilized in communities across the country.
CDFA Food Systems Finance Webinar Series: Driving Food Systems Investment with Tax Credits
September 24, 2024 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we will look at tax credit programs that allow businesses and investors to claim a tax credit for committing resources to a food system project or business. We will also explore how these tools can catalyze investment in communities that have historically been discriminated against.
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This Week's Headlines |
Highlights of Labor and Workforce Accomplishments
New York State | Sep. 2 | State Finance Program | State Small Business Credit Initiative (SSBCI)
Governor of New Mexico Announces Launch of Workforce Housing Program
State of New Mexico | Sep. 4 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | State Finance Program
NCUA Awards Over $3.5M in Community Development Revolving Loan Fund Grants
National Credit Union Administration | Sep. 4 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)
California IBank Invests $25M in Critical Climate Solutions
CA.gov | Sep. 3 | Access to Capital | Energy Finance | Revolving Loan Funds (RLFs) | State Finance Program
Funding Available to Help Increase Minnesota Ag Product Sales
MN Department of Agriculture | Sep. 3 | Access to Capital | Agriculture Finance | State Finance Program
New Mexico Science & Technology Business Startup Grant Application Open
New Mexico Economic Development Department | Sep. 3 | Access to Capital | Economic Development | State Small Business Credit Initiative (SSBCI)
$2.4M Awarded to Boost Energy Efficiency Across New Jersey
ROI-NJ | Sep. 3 | Access to Capital | Energy Finance | Revolving Loan Funds (RLFs) | State Finance Program
USDA Rural Development Awarding $750K to Grow South Dakota
SDPB | Sep. 2 | Community Development | Economic Development | Rural Development
GGRF is Sparking Clean Energy Community Development
MacArthur Foundation | Aug. 30 | Community Development | Energy Finance | Federal | U.S. Environmental Protection Agency (EPA)
Green Bay, WI to Review Funding for New Tax District to Support Public Market Project
FOX 11 News | Aug. 30 | Community Development | Economic Development | Tax Increment Finance (TIF)
Telluride Venture Network Introduces New Loan Fund
Telluride Daily Planet | Aug. 30 | Access to Capital | Revolving Loan Funds (RLFs) | State Finance Program
Brighton Business Earns IEDA Fund
KCII Radio | Aug. 29 | Access to Capital | State Finance Program | State Small Business Credit Initiative (SSBCI)
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National Sponsor Spotlight |
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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...
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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...
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McGuireWoods
With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP uses client-focused teams to serve public, private, government, and nonprofit clients from virtually every area of the law. To complement their services, they offer...
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CDFA Bookstore |
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Bond Finance Reference Guide
This Bond Finance Reference Guide combines the Intro and Advanced Bond Guides to offer a comprehensive resource on the nation's most fundamental development finance tool.
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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