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CDFA California Financing Roundtable Newsletter - December 2016

CDFA California Financing Roundtable Newsletter - December 2016
December 21, 2016
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CDFA California Financing Roundtable Newsletter

Feature

CA Allocates $236M for 40 Transportation Projects
The California Transportation Commission (CTC) has allocated $236 million for 40 transportation projects across the state. Funding includes $190 million from the State Highway Operation and Protection Program for 10 projects to "maintain and preserve the investment in the state highway system and its supporting infrastructure."

CA High-Speed Rail Vote Clears Way for Bond Sale
The California High-Speed Rail Authority approved two funding plans that will clear the way for it to sell $4.7 billion in bonds for construction projects in the Central Valley and on the San Francisco Peninsula.

States Continue to Improve Transparency of Tax Incentive Programs
States have a number of tools at their disposal to promote economic policies. Supporters of lowered taxes on business argue that tax incentives are a great way to stimulate and support economic growth and equality. States have started to develop ways to address these critiques of tax incentive programs.

Private Sector Should Be Involved in State Transportation Fixes
A new study from the California Policy Center explains how private investments could benefit the Golden State's lagging infrastructure. The state's water infrastructure has not been expanded since the 1970s and is designed to accommodate 20 million residents when California now has nearly 40 million residents. Its energy infrastructure is increasingly oriented toward renewables, without a clear plan to achieve the distribution and storage upgrades necessary to realize this dramatic shift.

Clearinghouse CDFI Awarded $65M in New Market Tax Credits
Clearinghouse Community Development Financial Institution announced that it has been awarded a $65 million New Markets Tax Credit allocation from the United States Department of Treasury CDFI Fund. Clearinghouse CDFI will use the credits to provide financing for affordable housing, commercial real estate, small business loans, and other projects located in low-income and distressed communities.

Opportunity to Provide Input on New CA Energy Efficiency Financing Pilot Programs
The California Hub for Energy Efficiency Finance (CHEEF) is developing statewide commercial energy efficiency financing programs designed to bring attractive financing to small businesses and large commercial customers. The programs include $14 million of credit enhancements available to participating financial entities, a statewide marketing campaign and on-bill repayment options. CHEEF is requesting stakeholder comments on proposed program guidelines by December 15th.

Drone Maker Accepts Tax Break to Add More Than 100 Jobs in CA
Composite Engineering Inc., a manufacturer of unmanned aerial systems, accepted a tax credit in return for adding jobs in the Sacramento area over the next five years. The company will receive $679,564 in tax credits in return for adding 119 jobs through the 2020 tax year.

CA Tax Credits Aimed at Boosting Jobs in Central Valley
The Governor's Office of Business and Economic Development (GO-Biz) announced that it had selected 74 companies to receive more than $60 million in tax credits. Statewide, these tax credits are expected to help create 6,568 jobs and generate more than $670 million in investment in California. GO-Biz is allocating approximately $243 million in total tax credits this year.

CA Bullet Train's Bond Funds Shifting Into Local Rail Projects
California voters authorized $9.95 billion in bonds for the $68 billion project, but private and/or foreign governments are unwilling to finance the remainder without assurances of operating subsidies. The bond measure said that $950 million could be spent on local transit systems that would connect to the bullet train.

The Los Angeles Good Food Purchasing Program
In 2011-2012, the Los Angeles Food Policy Council developed the Good Food Purchasing Program (GFPP), an innovative local food procurement policy aimed at building markets for good food to create an equitable food system for all of Los Angeles.

California News

President-elect Promises to Keep TEBs
Politico | Dec. 16 | Bond Finance | Federal

CA Board Approves High Speed Rail Funding as New Lawsuit Filed
The Mercury News | Dec. 15 | Bond Finance | Infrastructure Finance

CA Bill Would Provide $6B in Annual Infrastructure Funding
Equipment World | Dec. 13 | Infrastructure Finance

Small Business Owners Will Benefit from New Santa Clara CA Tax Break
Silicon Valley Business Journal | Dec. 13 | Incentives

CA Bond Agency Issues $11M in Tax Exempt Bonds
League of California Cities | Dec. 12 | Bond Finance

How CA Convinced Yamaha of America to Stay
The Orange County Register | Dec. 6 | Incentives | Tax Credits

CA Bond Agency Issues $171.2M in Tax-Exempt Bonds
League of California Cities | Dec. 5 | Bond Finance | Community Development

Good Food Rising - Financing Healthy Food in the School System
Earth Island Journal | Dec. 2 | Food Systems Finance

Downtown Project Would Bring Oakland 4,600 Jobs
East Bay Times | Dec. 1 | Economic Development

San Rafael's Business Improvement District to be Funded
Marin Independent Journal | Nov. 30 | Special Assessment Districts

How Green Bond Growth Could Affect Muni Disclosure
The Bond Buyer | Nov. 29 | Bond Finance | Green Finance

CA Bond Agency Issues $230M in Tax-Exempt Bonds for Affordable & Educational Housing, Community Hospital
League of California Cities | Nov. 21 | Bond Finance | Community Development

Brentwood City Council Approves $1.3M More for Library Project
East Bay Times | Nov. 18 | Special Assessment Districts

San Diego Park Plans Involve Up to $50M in Bonds
The Bond Buyer | Nov. 17 | Bond Finance | Community Development | Infrastructure Finance


Sponsors

Roundtable Partner

California Association for Local Economic Development

Venue Sponsor

Los Angeles Mayor's Office of Economic Development

Annual Roundtable Sponsor

Valley Economic Development Centers (VEDC)

Conference Premium Sponsor

Growth Capital Associates, Inc Kosmont Companies

Conference Supporting Sponsor

California Alternate Energy and Advanced Transportation Financing Authority California Enterprise Development Authority California Infrastructure and Economic Development Bank (IBank) Federal Home Loan Bank San Francisco HR&A Advisors Kronick Moskovitz Tiedemann & Girard Piper Jaffray & Co. Stone Grzegorek & Gonzalez LLP

For information about sponsoring the CDFA California Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


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.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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