Development Finance Review Weekly - March 19, 2020
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Feature |
CDFA's COVID-19 Comprehensive Recovery Strategy
Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic challenges facing small businesses and communities to put America securely on the path to recovery.
U.S. Airports ask Congress for $10B Bailout
Airports are asking Congress for $10 billion as part of a larger bailout package lawmakers are developing for a third bill to address the COVID-19 pandemic. Expected airport losses this year jumped to $8.7 billion on Monday from an earlier estimate of $3.7 billion released last week.
Volatility in the Real Estate & Multifamily Transaction Markets
Volatility has risen significantly in financial markets, driven by COVID-19. How might this affect US multifamily and commercial real estate (CRE) transaction markets? In this paper, Moody's explores these issues, fully acknowledging that learning from experience is challenging – given how interest rate levels for Treasury rates, for example, have registered historic lows.
USDA Continues Focus on Service During COVID-19 Outbreak
The U.S. Department of Agriculture continues to be open for business to provide services to the American people. While USDA has moved to an enhanced telework posture during the Coronavirus National Emergency, services to the American people continue. This article details the USDA's adjustments to its programs and staffing during the outbreak.
Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
Following President Donald J. Trump's emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and IRS issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.
How to Rescue Main Street From Coronavirus Before It's Too Late
It is now clear that the coronavirus pandemic will exact a staggering toll on the American economy. By any measure, an economy that not long ago had driven Americans' confidence in the labor market and optimism about their financial security to record highs is about to undergo a massive and potentially catastrophic disruption.
Coronavirus Emergency Aid Package Signed into Law
The legislation signed Wednesday evening provides paid sick and family leave for some for U.S. workers impacted by the illness, expands unemployment assistance, includes nutrition assistance and increases resources for testing. Efforts are already underway to put together a third, larger relief measure that could total $1 trillion.
White House Mandates Agencies' Operational Realignment to Reduce COVID-19 Risk
The Office of Management and Budget released a memorandum late Tuesday that instructed agency leadership to use the "full extent of their legal authority and discretion" to realign their agencies' non-mission-critical operations in a way that cuts down on the risk of coronavirus exposure.
SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by COVID-19
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
COVID-19 May Add $7B to New York State's Revenue Hole
The economic fallout caused by COVID-19 could result in New York State falling billions below revenue estimates in next year's budget, according to State Comptroller Thomas DiNapoli.
Amid COVID-19 Downturn, Florida will Proceed with Record Spending Plan
As Florida lawmakers prepare to vote on the state's record $93.2 billion budget, losses because of the novel coronavirus have already begun mounting for industries that support the state's economy.
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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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: The Performance of Social Impact Bonds
Tuesday, April 21, 2020 - 1:00 PM Eastern
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.
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Job & RFP Postings |
InvestAtlanta Seeking a Community Development Real Estate Analyst
The Community Development Real Estate Analyst (REA) for Invest Atlanta is responsible for providing underwriting, reporting, analysis, and programmatic support to the Director, Underwriting & Transaction Services (the "Director") within Community Development.
National Development Council Accepting Applications for P3 Project Manager
NDC is currently looking for an Economic Development Professional to provide project management services for its growing portfolio of Public‐Private Partnership (P3) projects.
Urban Redevelopment Authority of Pittsburgh Accepting Applications for Lending Officer
This position is for a Lending Officer in the Urban Redevelopment Authority of Pittsburgh's (URA) Center for Innovation and Entrepreneurship (CIE). This position is responsible for assisting the Director of CIE with the execution of URA financing programs and support of the URA's overall business startup, expansion, and attraction strategy.
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This Week's Headlines |
USDA Invests $900M in Rural Electric Infrastructure in 16 States
USDA | Mar. 18 | Economic Development | Energy Finance | Federal | Green Finance | Infrastructure Finance | Innovation Finance | Rural Development
The Future of Opportunity Zone Funds Could Be in Renewable Energy
Private Wealth | Mar. 18 | Disaster Recovery & Relief | Energy Finance | Opportunity Zones
Climate-Friendly Food Business 'Planet FWD' Gets $2.7M in Seed Funding
Tech Crunch | Mar. 18 | Access to Capital | Agriculture Finance | Food Systems Finance
Sacramento Kings Co-Owners Plow $850M Into Opportunity Zones, But Mostly Pass On California
Bisnow | Mar. 16 | Opportunity Zones
Opportunity Zones Bring Development Dollars, New Hope to Disadvantaged Duluth, MN Neighborhoods
Duluth News Tribune | Mar. 16 | Opportunity Zones
State of MA Providing $10M Coronavirus Relief Fund for Small Businesses
WCVB 5 | Mar. 16 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Revolving Loan Funds (RLFs) | State Finance Program
IL Gives Green Light for Third Party Solar Projects
Energy News Network | Mar. 16 | Energy Finance | Incentives | Legislative | Tax Credits
Midland City Council Approves Tax Incentive
Midland Daily News | Mar. 16 | Brownfield Financing | Tax Increment Finance (TIF)
Hamilton Finance Group Sells $9.5M in Spooky Nook Parking Bonds
Journal News | Mar. 16 | Tax Increment Finance (TIF)
MO Senate Backs New Tax Break for Businesses
The News & Observer | Mar. 16 | Tax Increment Finance (TIF)
Centerville, OH, Other Cities Utilize TIF for Development Plans
Dayton Daily News | Mar. 16 | Tax Increment Finance (TIF)
La Cantinita, IL Seeks TIF Assistance to Complete Downtown Project
The Register Mail | Mar. 16 | Tax Increment Finance (TIF)
174 Apartments Going up in Downtown Boise, ID
Idaho Press | Mar. 16 | Tax Increment Finance (TIF)
$115M Investment for University of Iowa P3 Utility Upgrade
Acrofan | Mar. 16 | Energy Finance | Green Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing
For Wind and Solar Sectors, Biggest Coronavirus Risk May Be a Damaged Economy
Green Tech Media | Mar. 15 | Disaster Recovery & Relief | Energy Finance | Tax Credits
MN Gov. Proposes Scaled-Back Supplemental Budget, Urges Lawmakers to Pass Bond Bill
Minnesota Star-Tribune | Mar. 15 | Bond Finance | Disaster Recovery & Relief | State Finance Program
CA's Prop. 13 for $15B School Bond Officially Defeated
Santa Cruz Sentinel | Mar. 14 | Bond Finance | Social Finance
USDA Extends ReConnect Application Deadline to March 31
USDA | Mar. 13 | Federal | Infrastructure Finance
Coronavirus Creates Angst For Clean Energy Developers
Law 360 | Mar. 13 | Access to Capital | Disaster Recovery & Relief | Energy Finance | Green Finance | Legislative | Tax Credits
Finance Committee Backs $6.6M Tax Subsidy For Ramova Theatre
CBS Chicago | Mar. 13 | Tax Increment Finance (TIF)
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National Sponsor Spotlight |
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NW Financial Group, LLC
NW Financial Group LLC is the premier Financial Advisory / Municipal Underwriting firm in the Northeast whose experienced professionals provide unparalleled expert advice to States, Local Governments and Authorities. The professionals that make up...
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Petros PACE Finance
Petros PACE Finance, LLC is the national leader in the C-PACE marketplace, dedicated solely to providing long-term C-PACE financing to commercial property owners seeking to lower energy costs, reduce carbon footprints and increase property values.
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
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Partner Spotlight |
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Institute of Economic Development (IED) - United Kingdom
The Institute of Economic Development (IED) is the UK's leading independent professional body representing economic development and regeneration practitioners. Established over 30 years ago, the IED's key objective is to represent the interests of...
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment and job creation.
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New Members |
Jefferson Parish Economic Development Commission - Avondale, LA
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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 about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.
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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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