A New Jersey law enabling municipalities to create utilities to manage stormwater runoff may spur increased borrowing for resiliency projects throughout the state. The recently enacted Clean Stormwater and Flood Reduction Act was created to tackle flooding risks facing much of the state.

California has sold $600 million in bonds to help pay for its high-speed rail project even as lawmakers and Gov. Gavin Newsom acknowledge challenges to completing the line between Los Angeles and San Francisco. The bond money is a key source of financing for the troubled project, which has been beset by cost overruns and delays.

The Fresh Start Hutchinson Neighborhood Grocery Store would be financed/funded through a $2.6 million HUD loan, a $1.5 million CRA grant from the state, $3 million in New Market Tax Credits, and tax increment financing. The proposed 25,000 square foot grocery store would be built in what is considered to be a food desert.

The city of Charlottesville has launched the Business Equity Fund, which is a loan program for existing city businesses that are owned by individuals who are considered socially disadvantaged. The program allows businesses to take out loans between $5,000 and $25,000, with an interest rate up to three percent.

In theory, the Opportunity Zones legislation was intended to spread benefits far and wide. But the many Opportunity Zones in big coastal cities and a few landlocked major cities in the middle of the country with strong real estate markets may promise Opportunity Zone investors better returns than in smaller markets.

Building on recent successes to move President Donald Trump's infrastructure agenda forward by providing the financing and resources communities need to modernize local water infrastructure, the U.S. Environmental Protection Agency (EPA) issued new guidance for states to use when applying for financing from the Drinking Water State Revolving Fund (DWSRF).

From Crosstown Concourse to the Chisca Hotel and Tennessee Brewery, Memphis has made a name for itself with adaptive reuse. However, historic preservation advocates say there's more to be done if Tennessee would offer a historic tax credit, mirroring an existing federal credit that made projects like Crosstown Concourse possible.

In the next few weeks, the second tranche of proposed OZ regulations will be released. The issues addressed will likely include many of those presented at the most recent public hearing and included in comment letters. In this article, Michael Novogradac discusses 20 OZ guidance areas that may be addressed in the next tranche of guidance.

As Congress prepares work on an infrastructure package, DOT Secretary Elaine Chao endorsed private funding through pensions and endowment funds. "There are 26 states that have some kind of limitations of allowing the private sector to participate in the financing of public infrastructure," Chao said. "That's really a shame because this is a pool of money that is very long term."

The first installment on a $650 million highway borrowing plan, including major projects in New Orleans and Baton Rouge, has been approved by the Louisiana State Bond Commission. The commission endorsed the sale of $185 million in bonds, including about $77 million for a new entrance to Louis Armstrong New Orleans International Airport.

During this installment of the CDFA // BNY Mellon Webcast Series, our expert speakers will discuss the financing structure that supported Plaza 122, a place-based specific solution for a community in need.

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