U.S. Representative Danny Davis of Illinois' 7th Congressional District just became a co-sponsor of H.R. 5422, the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA). The six reforms contained within MAMBA would lower capital access barriers for small manufacturers and first-time farmers by modernizing how the Internal Revenue Code regulates the issuance of small issue bonds.

IRS Notice 2020-10 provides population figures to calculate calendar-year 2020 limits for private activity bonds (PABs) and low-income housing tax credit (LIHTC). The PAB cap is the greater of the population multiplied by $105 or $321,775,000. The LIHTC cap for each state is the greater of the population multiplied by $2.8125 or $3,217,500.

Senate staffers were optimistic last week the sprawling energy bill from Republican Lisa Murkowski and Democrat Joe Manchin III could move fast. With the measure zooming past the Senate Energy and Natural Resources Committee, they expected it could get a quick floor vote, then wing its way to the House. Murkowski said more than 150 amendments to the bill had been submitted.

As part of the CDFA Federal Policy Conference, we will head to Capitol Hill to conduct legislative briefings on the importance of bond legislation such as MAMBA. Join CDFA and our members and partners as we visit with Congressional leaders to reinforce the importance of federal economic development finance solutions and proactive approaches.

A proposed $5.5-billion bond measure from the California Senate aims to combat climate change by funding various environmental preservation and expansion projects throughout the state. Senate Bill 45 would allocate the money based on environmental hazards faced in California. The bill would still need to be approved by the Legislature before being placed on the November ballot.

Wells Fargo Asset Management (WFAM) today announced the launch of the Wells Fargo Municipal Sustainability Fund. The Municipal Sustainability Fund utilizes a municipal bond assessment framework that WFAM developed in-house through the WFAM ESG Impact Framework, a partnership involving municipal bond professionals and Environmental, Social and Governance (ESG) professionals.

Rhode Island Infrastructure Bank presented $7.8 million in savings to 26 municipalities and utilities as a part of its annual Legislative Day at the State House. The Bank also announced the next round of 9 participants in the Municipal Resilience Program.

A Los Angeles-based real estate investor specializing in preserving affordable housing for seniors through public-private partnerships has completed the largest affordable tax credit financing in Illinois history and lowered the rents for half of the residents in one senior apartment building.

Layering an investment fund geared toward social outcomes with a new federal tax tool could bring an array of needed projects to Missoula's opportunity zone, the Missoula Economic Partnership said this week. MEP works to gather community feedback at home and has taken to the road in recent months to explore how other communities are putting their opportunity zones to work.

Economic activity and job growth were strong in February, according to newly-released data, but the threat posed by the COVID-19 virus remains a future danger to the economy's well-being. Private sector employment increased by 183,000 jobs, according to the February ADP National Employment Report.

In the municipal market where the volumes are huge, sizes often small, and details opaque, the cheapest way to get all of this done may just be to turn bonds into computer programs that can facilitate the issuance, exercise options, and feed data to market participants.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series experts will examine the best strategies local governments and analysts are using to determine appropriate TIF assistance levels.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore if the performance of Social Impact Bonds (SIBs) is living up to the hype and how SIBs can be used as a powerful tool for community development.

The Nebraska Investment Finance Authority(NIFA) is accepting applications for an executive director. The Executive Director of NIFA is responsible for providing strategic leadership and operational oversight, working with the Board of Directors and senior management team at NIFA to establish and implement short and long-range goals, strategies, plans, and policies.

The City of Fayetteville, North Carolina, is now accepting Proposals for Contractual Grant Writing Services. The RFP is open until March 19, 2020.

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IRS Notice 2020-10 provides population figures to calculate calendar-year 2020 limits for private activity bonds (PABs) and low-income housing tax credit (LIHTC) for all 50 states, Washington, D.C., and Puerto Rico. The PAB cap is the greater of the population multiplied by $105 or $321,775,000. The LIHTC cap for each state is the greater of the population multiplied by $2.8125 or $3,217,500.

This Reinvestment Roadmap was drafted by the City of Erie and the Erie Regional Chamber and Growth Partnership for the White House Opportunity and Revitalization Council.

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