Despite high hopes when the project was launched, profitability has eluded the mall since it opened its doors to shoppers in October 2019, following years of project delays and cost overruns and only months before the pandemic shuttered brick-and-mortar retailers. Holders of debt issued to fund the American Dream megamall in New Jersey have been left without a scheduled interest payment.

Cities and states facing elevated construction costs, which means fewer bids for public projects. This threatens to eat into the purchasing power of $100 billion of new annual federal infrastructure funding that will roll out over the next five years under the Infrastructure Investment and Jobs Act.

During this special one-day conference, we will share knowledge of best practices within the state's development finance industry. This event will feature economic development finance experts from around the state discussing the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of experts will share insights on how to preserve and grow tribal communities by unlocking development finance tools.

Experts will join this session to provide a detailed review of the recently released guidance on the Infrastructure Investment and Jobs Act. Presentations will cover the steps to apply and provide an overall timeline for when communities can expect to access funding. This session will also continue the discussion around the utilization of IIJA funds in coordination with local funding through bond finance, tax credit programs, tax increment financing, and other development finance approaches to cover long-term project costs.