CDFA Bond Finance Update - July 18, 2023
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Features |
Mark Your Calendar for the 2023 CDFA Virtual Summer School!
Join us August 7-15 for a series of courses presented by the CDFA Training Institute. CDFA Virtual Summer School will offer five different training courses, all held online. Learn from our expert practitioners and experience CDFA's most interactive educational event of the year – all from the comfort of your home or office! All CDFA Virtual Summer School courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program.
JEDA Provides $20M in Bond Funding for Belton Preparatory Academy in South Carolina
The South Carolina Jobs-Economic Development Authority (JEDA) has issued almost $20 million in Educational Facilities Revenue Bonds for new facilities for a 5-year-old public charter school in Belton. The financing will pay for the acquisition, design, and construction of classroom and athletic facilities for Belton Preparatory Academy at 3201 Highway 29 North in the Anderson County community to accommodate increased enrollment.
Bond and TIF will Help the New Riverwest, WI Affordable Housing Development Project
The City of Milwaukee, Wisconsin plans to redevelop a vacant building into affordable housing with a food accelerator space by using low-income housing tax credits, WHEDA tax-exempt bond financing, American Recovery Plan Act funds allocated by the State of Wisconsin, Milwaukee Housing Trust Funds, a $1.25 million developer-financed Tax Incremental Financing district, deferred developer fees, and other grants and loans.
Connecticut Bond Commission Set to Approve $340.2M for Redevelopment Projects
The State Bond Commission is expected to approve $340.2 million in funding for projects across Connecticut. The agenda includes a $6.5 million request for abatement and demolition of buildings at Founders Plaza in East Hartford and $4.85 million earmarked for renovations to the state Capitol complex. The commission is also expected to approve $9 million for the Department of Economic and Community Development's Small Business Boost Fund.
U.S. Treasury Highlights Legislative Impacts on Manufacturing Facility Construction
The United States has experienced a striking surge in construction spending for manufacturing facilities. Real manufacturing construction spending has doubled since the end of 2021. The surge comes in a supportive policy environment for manufacturing construction: the Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and CHIPS Act each provided direct funding and tax incentives for public and private manufacturing construction.
Dallas, TX Housing Coalition Launches to Advocate for $200M in Bond Funds
More than 75 organizations have joined forces with one bold objective in mind: convincing the Dallas City Council to allot $200 million for housing in the 2024 bond election. The coalition is using its website and social media channels to explain things like affordable housing, attainable housing, and 30 percent area median income.
Ohio Air Quality Development Authority Approves $20M for Two Northeast Ohio Projects
The Ohio Air Quality Development Authority (OAQDA) has approved $20 million in funding for two projects in Northeast Ohio, including one in Rocky River and one in Akron. The funding comes via OAQDA's signature programs, the Clean Air Improvement Program and Clean Air Resource Center for small businesses.
Ridgefield, WA Mulls Tax Increment Financing to Pay for Infrastructure
A tax increment financing proposal from the city of Ridgefield could give the city millions of dollars to build needed infrastructure and spur development as the city's rapid growth continues. Tax increment financing is a relatively new concept in Washington but has been used in other states for decades. The program lets local government invest in infrastructure and other improvements, then pay later for those improvements through bonds or other methods. A key benefit is that jurisdictions get to capture future anticipated tax revenues now.
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Market Reports |
Weekly Market Outlook
Moody's Analytics | Jul. 17 | Bond Finance | Market Reports
Capital Market Outlook
Merrill | Jul. 17 | Bond Finance | Market Reports
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Upcoming Events |
2023 Equitable Lending Learning Series: Underwriting Strategies
July 25, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will provide an overview on the history of underwriting approaches, discuss technical strategies and best practices for developing and implementing new underwriting policies, and share examples for how these alternatives can increase access to capital for underserved borrowers.
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News from |
The latest municipal finance headlines from The Bond Buyer.
Large Primary Prices Amid Steady Secondary
Municipals were steady Tuesday as the new-issue calendar picked up steam, including nearly $1 billion from Texas' Denton Independent School District and an upsized deal from Utah's Intermountain Power Agency. U.S. Treasuries were slightly firmer outside of five years, and equities ended the session in the black.
FIGA is Selling Insurance Bonds for the First Time in Over 30 Years
For the first time in more than 30 years, the Florida Insurance Guaranty Association (FIGA) tapped the municipal bond market, selling tax-exempt fixed-rate bonds last week to help fund claims from insolvent insurance companies in the state.
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.
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Bond Finance Headlines |
Steamboat Springs, CO Discusses Bond Financing for Brown Ranch Development
Steamboat Pilot & Today | Jul. 17 | Bond Finance | Housing Finance | Infrastructure Finance
Fitch Rates Indiana Housing and Community Development Authority
FitchRatings | Jul. 17 | Bond Finance | Community Development | Housing Finance
Lake Orion, MI DDA Lumber Yard Redevelopment Project Takes Next Step Forward
The Lake Orion Review | Jul. 17 | Bond Finance | Economic Development | Redevelopment | Tax Increment Finance (TIF)
School Board in Iowa Approved Bond Financing for Facilities Master Plan
Raccoon Valley Radio | Jul. 17 | Bond Finance | Infrastructure Finance
Boosted by Rating Upgrades, Salt Lake City, UT Airport to Sell $429M of Bonds
The Bond Buyer | Jul. 17 | Bond Finance | Infrastructure Finance
Pittsburgh, PA City Council Approves Bond for Affordable Housing
WESA | Jul. 12 | Bond Finance | Housing Finance
Pender County, NC Schools Receive $178M Bond Approval for New Schools, Renovations
WWAY3 | Jul. 11 | Bond Finance | Infrastructure Finance
West Bend, WI Common Council to Vote on Bond Financing for GENX Holdings
Washington County Daily News | Jul. 10 | Bond Finance | Economic Development
MassDevelopment Provides $32.5M Bond Financing for Affordable Housing in Ipswich, MA
Rebusiness Online | Jul. 5 | Bond Finance | Housing Finance
Butler County, OH Port Authority Aims to Develop Economic Development Strategic Plan
Journal-News | Jul. 5 | Bond Finance | Community Development | Economic Development | Energy Finance | Incentives | Property Assessed Clean Energy (PACE) | Revolving Loan Funds (RLFs)
Jasper Council, IN Discusses Bond for Regional Wellness Center Funding
Dubois County Free Press | Jun. 26 | Bond Finance | Community Development | Economic Development | Food Systems Finance | Infrastructure Finance
Berks County, PA Commissioners Authorize Bond Financing for Albright College
WFMZ | Jun. 26 | Bond Finance
Turlock, CA Council Approves Sale of Municipal Bonds for Roads
Turlock Journal | Jun. 21 | Bond Finance | Economic Development | Infrastructure Finance
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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 visit CDFA.net or email info@cdfa.net
For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.
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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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