The California Debt Limit Allocation Committee approved the first step in the plans of Virgin Trains USA to sell $4.2 billion in tax-exempt debt to build a high-speed train to Las Vegas from a desert town in southern California. Combined with an expected allocation from the federal government, a California agency would issue up to $3.2 billion of tax-exempt debt on the train's behalf.

Key to Vicor's decision to expand in the town it's called home and headquarters for 38 years was a Tax Increment Financing Agreement that will bring the community new revenue from Vicor's expanded facility. Vicor and its more than 700 Andover-based employees spend an estimated $3 million annually with local businesses.

Public records and interviews show the Downtown Memphis Commission, Memphis City Council and Shelby County Commission required no detailed business background prior to awarding Union Row with $150 million in public incentives. However, careful vetting — upfront — can reveal potential troubles and will only instill public confidence in the end, said CDFA president Toby Rittner.

Opportunity Alabama is tracking almost 200 potential Opportunity Zone real estate and operating investments within the state of Alabama, summing to roughly $1 billion in potential investments.

Kim Day, CEO at Denver International Airport, gave an update on the termination of Great Hall Partners' $1.8 billion P3 contract and the future of the Jeppesen Terminal renovation, which now has a budget of $770 million. This amount is $120 million higher than the original project estimate of $650 million.

Most municipalities rely heavily on property taxes to generate revenue and finance economic development. However, the land value tax is an idea that quite a few local governments are starting to think about. Since 1997, Pittsburgh has used a pure land value tax to assess property within the confines of its central business district.

The Greater Orlando Aviation Authority is scheduled to issue $1.1 billion in Airport Facilities Bonds to finance construction on its new South Terminal at the Orlando International Airport and to manage certain aspects of its current debt obligations.

The Indiana Finance Authority is restating its current bond trust indenture and its wastewater and drinking water state revolving fund trust indentures ahead of pricing $200 million of bonds from the program. The change comes as the IFA finalizes a drawdown loan of up to $436 million provided under the Water Infrastructure Finance and Innovation Act of 2014.

BART will spend $227 million on a new headquarters in downtown Oakland, despite last-minute concerns that it's not a good use of taxpayer money. The agency will issue $227 million in sales tax revenue bonds to buy and renovate the new property.

The Indiana Finance Authority is restating its current bond trust indenture and its wastewater and drinking water state revolving fund trust indentures ahead of pricing $200 million of bonds from the program. The change comes as the IFA finalizes a drawdown loan of up to $436 million provided under the Water Infrastructure Finance and Innovation Act of 2014.

How to save money and improve disclosure and transparency were two of the ideas discussed during a Green Bonds America Conference in New York. Chris Meister, Illinois Finance Authority's Executive Director and longtime CDFA member, spoke during an issuer and investor panel about the agency's most recent state revolving fund green bond issue.

The Governmental Accounting Standards Board is expected to propose three alternatives for counties and cities to adjust their hedges or interest rate swaps after Libor expires at the end of 2021. Additionally, industry experts expect GASB to review the coments it has recieved on its proposed guidelines for P3s and issue a final rule in the first quarter of 2020.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will examine the recently released Volume Cap Report in fine detail as well as discuss the fourth-quarter outlook of the capital markets.

In this webinar, industry leaders [from C-PACE Alliance, the Keystone Energy Alliance, Clean Fund, and Bricker & Eckler] will share their experience in drafting PACE statutes, advocating for legislative changes to existing PACE statutes, determining and correcting market flaws or deficiencies, and increasing market volume. Capital providers will share some insights on how they arrange capital for projects, and the importance of certain market-based principles underlying the development of C-PACE as an asset class in commercial lending.

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