The 2021 Infrastructure Investment and Jobs Act for the first time authorized issuers to float private activity bonds (PABs) to finance broadband projects and carbon dioxide capture facilities starting in 2022, but no cities or states have tapped the tools. CDFA's Vice President, Katie Kramer, shared her latest observations of the PABs and uncovered the reasons behind the underused issue.

Bishop Gadsden Episcopal Retirement Community is using a $29,200,000 bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) to expand the organization's life plan community in Charleston. The tax-exempt Economic Development Revenue Bonds will be used to construct and equip 15 new independent living units to be known as The Meade at Bishop Gadsden's 100-acre campus on James Island.

This study suggests that Opportunity Zones have already achieved a combination of expansive geographic reach, large-scale private investment, and significant economic effects that is unique in the history of U.S. place-based policy. It also examines the emerging evidence on the OZ incentive and uses the latest findings to revisit the debates over its design and effectiveness. 

CDFA's Director of Government & External Affairs, Mitchell Smith, was interviewed by Brett Bolton, Bond Dealers of America's Vice President of Federal Legislative & Regulatory Policy. On this episode of "Bonding Time," they discussed CDFA's legislative agenda for the 118th Congress, the overlapping priorities between CDFA and BDA, the growth of the municipal bond advocacy community in Washington, and the overall outlook for legislation in 2023.

The U.S. Department of the Treasury announced the approval of high-speed internet projects in New York under the American Rescue Plan's Capital Projects Fund and the Affordable Connectivity Program. The state will use its funding to connect nearly 100,000 low-income housing units to affordable, high-speed internet. The program has already delivered affordable high-speed internet to 16 million American households.

Millions in federal funding is earmarked for Pennsylvania, New Jersey, and Delaware to help small businesses. The money is coming from a new $10 billion funding round for the State Small Business Credit Initiative (SSBCI). Pennsylvania's share — approximately $268 million — was approved last year, and earlier this month the Treasury Department authorized $61 million in funds for Delaware and $255 million for New Jersey businesses.

The USDA announced that beginning in April it will provide approximately $123 million in additional, automatic financial assistance for qualifying farm loan program borrowers who are facing financial risk, as part of the $3.1 billion to help distressed farm loan borrowers that was provided through Section 22006 of the Inflation Reduction Act (IRA). The announcement builds on financial assistance offered to borrowers through the same program in October 2022.

Greenville County Council's finance committee will consider using road fee revenue bonds to pay back the county after financing its portion of the $121 million Woodruff Road Congestion Relief Project at the committee's next meeting. The committee will decide whether to issue up to $31 million in bonds, which will be paid back from revenue from the county's road fees, according to county documents.

The Finance Director leads, manages, and coordinates all financial matters. The position will report to the Executive Director. This position will be responsible for developing the organization's budget, maintaining the organization's financial statements, managing cash flows, and working closely with our lending program manager to ensure appropriate disbursements and servicing for loans and grants disbursed by the organization.

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