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Development Finance Review Weekly - June 9, 2022

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Development Finance Review Weekly
June 9, 2022
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CDFA Development Finance Review Weekly

Features

Dive Into Development Finance with CDFA's Virtual Summer School!
CDFA Virtual Summer School is a week-long series of courses presented by the CDFA Training Institute. CDFA Virtual Summer School will offer three different training courses, all held online. Learn from our expert practitioners and experience CDFA's most interactive educational event of the year. These courses also qualify for the CDFA Training Institute's Development Finance Certified Professional Program!

D.C. Bond Program Benefits Small Black-Owned Businesses
For 20 years, Innovative Recordings, LLC has provided a platform for musical acts, launched a school of performing arts, and explored entry into the snack food industry. With its inclusion in a D.C. government-supported bond program, Innovative Recordings LLC will soon expand its operations, much to the benefit of Ward 7 and 8 residents.

Tune in to the Conversation on Racial Equity in the Bond Markets
Join us for the June 21 installment of the CDFA // BNY Mellon Development Finance Webcast Series as we discuss Racial Equity in the Bond Markets. During this session we'll take an in-depth look at new initiatives being implemented to encourage more transparency around racial equity in municipal bond offerings.

Confluence Academies Charter School Network Seeks $35M in Financing From City
The St. Louis Industrial Development Authority held a public hearing Thursday on issuing the tax-exempt bonds for a nonprofit associated with Confluence Academies to pay down and refinance debt used to buy and renovate its five school buildings.

Check Out CDFA's New Report Debunking Risk in Food System Lending
Food and agriculture-related businesses are often perceived as too risky for traditional lending approaches, yet CDFA research tells a different story. This report, with loan-level data from over a thousand funds nationwide, demonstrates that food system loans perform and that revolving loan funds can successfully support local food system borrowers in their communities.

New Washington Law Will Help Grow State's Green Hydrogen Economy
On June 9, 2022, Senate Bill (SB) 5910 will take full effect, providing assistance and a host of incentives to the development of green hydrogen production in Washington. The Washington legislature passed SB 5910 to take advantage of funds available under the federal Infrastructure Investment and Jobs Act, which allocates $8 billion for the development of regional clean hydrogen hubs.

Solving the Affordable Housing Shortage in Door County, WI
The lack of affordable, quality rental housing has long been identified as a significant issue in Door County, WI in terms of furthering economic development and maintaining community stability and well-being. The county is directing $500,000 in ARPA dollars to a new funding pool that will help solve this problem by loaning money to developers who agree to set aside a few affordable units within new rental developments.

Addison County, VT Awarded $500K EPA Brownfields Assessment Grant
The Addison County Regional Planning Commission has been awarded a $500,000 Brownfields Assessment grant by the United States Environmental Protection Agency. ACRPC and ACEDC are seeking to identify eligible contaminated properties to conduct assessments. At least one priority site will be selected by each target area community, with an estimated 12 to 18 sites anticipated to be assessed.

Western New York to Receive $300M to Help Disadvantaged Neighborhoods
Gov. Kathy Hochul has plans for a new Regional Revitalization Partnership to benefit cities across Western New York. The multi-year initiative brings together Empire State development, local governments and private charitable partners. A total of $300 million in private and public funding will help disadvantaged neighborhoods in Buffalo, Niagara Falls and Rochester.

Upcoming Events
CDFA Virtual Summer School
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

GFOA Debt Committee Launches 'Wholesale Review' of Best Practices
The Government Finance Officers Association's debt committee Saturday recommended repealing a decades-old policy position against taxable debt and revamping a swath of best practices ranging from issuing variable-rate debt to hiring underwriters as part of a wider updating of its best practices and policy statements.

MD to Bring $1B-plus GOs to Competitive Market
Maryland will sell $900 million of AAA-rated tax-exempt and $150 million of taxable general obligation bonds competitively Wednesday in the largest deal of the week. 

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 Federal Financing Webinar Series: Creating More Equitable Environments with the EPA
Tuesday, June 14, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the U.S. Environmental Protection Agency to encourage development strategies that protect human health and the environment while also creating economic opportunities.

SSBCI Learning Series - Approaches to Targeting Specific Economic Sectors
June 17, 2022 - 1:00 PM Eastern
The fourth module of the SSBCI Learning Series will provide an overview and insight into using SSBCI capital to support and finance manufacturing, the clean and renewable energy sector, and IoT and technology businesses.

CDFA // BNY Mellon Development Finance Webcast Series: Racial Equity in the Bond Markets
Tuesday, June 21, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we continue a conversation sparked during last year's series with a look at new initiatives being implemented to encourage more transparency around racial equity in municipal bond offerings.

This Week's Headlines

Appalachian Community Capital Announces Over $1.9M in TA for 34 Development Projects
Appalachian Community Capital | Jun. 7 | Community Development | Opportunity Zones | Rural Development | Tax Credits

Achieving a Zero-Carbon Grid with Virtual Power Plants
pv magazine | Jun. 6 | Energy Finance | Green Finance | Infrastructure Finance

Charlotte-Mecklenburg Schools Starts Journey Toward 2023 Bond Referendum
The Weekly | Jun. 6 | Bond Finance

ID Charter Leaders and Parents Blast Federal Proposal
Idaho Education News | Jun. 6 | Bond Finance | Infrastructure Finance

Lack of Affordable Housing Threatens Palm Beach County's Economy in Florida
The Palm Beach Post | Jun. 6 | Bond Finance | Housing Finance

Montgomery Commissioners Authorize Issuance of GOB
69 News | Jun. 6 | Bond Finance

New Opportunities Under Connecticut's Expanded Tax Credits for Manufacturers
cbia | Jun. 6 | Economic Development | Legislative | Tax Credits

Ohio Passes Increased Historic and Opportunity Zone Incentives in SB 225
KJ+K | Jun. 6 | Federal | Historic Preservation | Incentives | Opportunity Zones | Tax Credits

Philadelphia Nonprofit Loans Small Businesses Money Even After Banks Reject Them
The Philadelphia Inquirer | Jun. 6 | Access to Capital | Bond Finance | Public-Private Partnership (P3) Financing

Retiring Illinois Coal Plants Awarded Funding to Add Energy Storage
Power Engineering International | Jun. 6 | Energy Finance | Green Finance | Infrastructure Finance

Biden's Infrastructure Bill is Funding the Switch to Electric School Buses
Popular Science | Jun. 2 | Energy Finance | Green Finance | Infrastructure Finance

Despite 500 Fewer Jobs, Keeping Farmers Insurance Mega Tax Credits Was Right Call
mlive | Jun. 2 | Agriculture Finance | Economic Development | Incentives | Tax Credits

EPA Pledges $23M Toward Cleanup at Stratford's Raymark Superfund Site
CT Insider | Jun. 2 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

In Northwest Montana, Brownfields Funding Turns Blight Into Might
Flathead Beacon | Jun. 2 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Mississippi Cities and Counties Looking to Spend ARPA Dollars
WCBI | Jun. 2 | Access to Capital | Disaster Recovery & Relief | Economic Development | Federal | Infrastructure Finance | COVID-19


New Additions to the Online Resource Database

Building Excellent Schools Today (BEST) Program
Access to Capital | Cannabis Finance | Community Development | Education | Social Finance
The BEST competitive grant program provides money for construction of new schools as well as general construction and renovation of existing school facilities. Marijuana tax revenue is one of four funding sources for the Capital Construction Assistance Fund that funds BEST. Money for the Capital Construction Assistance Fund also comes from the State Land Board, Colorado Lottery and interest earned.


National Sponsor Spotlight

FBT Project Finance Advisors LLC FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
Frost Brown Todd LLC Frost Brown Todd LLC
With over 500 lawyers across their eight-state footprint, Frost Brown Todd LLC 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...
gener8tor gener8tor
gener8tor's turnkey platform for the creative economy connects startup founders, musicians, artists, investors, universities and corporations. The gener8tor platform includes pre-accelerators, accelerators, corporate programming, conferences and...

CDFA Bookstore

Cover thumbnail Revolving Loan Fund Reference Guide
The Revolving Loan Fund Reference Guide offers an in-depth look at RLF program development, implementation and management. This guide demonstrates how an RLF program can complement economic development strategies, encourage investment and assist traditionally underserved businesses.

New Members

Arkansas Development Finance Authority - Little Rock, AR

Coastal Bend OZ Fund LLC - Rockport, TX

Hardee Brothers LLC - 445 Park Avenue; 9th FL, NY

Headwaters RC&D/BLDC - Butte, MT

KB Advisory Group - Atlanta, GA

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

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner 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