CDFA New York/New Jersey Financing Roundtable Newsletter - March 2014

CDFA New York/New Jersey Financing Roundtable Newsletter - March 2014
March 12, 2014



Feature
Fitch: NJEDA's Cigarette Tax Rev Bonds at 'BBB+'; Stable Fitch Ratings has affirmed the 'BBB+' rating on the NJEDA's cigarette tax revenue refunding bonds, series 2012, outstanding in the amount of approximately $938M. The Rating Outlook is Stable. New York City Begins $695M Tax-Exempt Bond Sale NYC began offering $695M of tax-exempt GOs, rated AA, to individuals in its first bond sale since Mayor Bill de Blasio took office on Jan. 1. The deal includes a portion maturing in March 2034 that is being offered at a preliminary yield of 4.125 percent. Canandaigua School Board OKs PILOT Increment Financing The PIF application was submitted to the Ontario County IDA to finance $11M in structural support and soil work needed for a project that would create a $120M mixed-use development of retailers, offices, apartments and more along Canandaigua Lake. NJ Offers $30.8M in Tax Credits to Keep Dietz in Delanco The NJEDA has offered Dietz & Watson Co. $30.8M in tax credits to rebuild a meat storage plant in Delanco destroyed by fire last year and preserve 135 full-time jobs and add 213, with a median wage of $40,000. Erie County, NY Approves Incentives for 2 Downtown Redevelopments The Erie County IDA approved $1.35M in tax abatement packages, while its sister agency, the Regional Development Corporation, approved a $1.25M loan which will benefit three Buffalo projects totaling $57.3M in new investment. Herkimer, NJ Small Businesses Land Grant-and-Loan Program The Herkimer County IDA started the Small Business Revolving Loan to accommodate companies that usually wouldn't fall into its jurisdiction. It soon will acquire $50K in state funding for a second round of grants and low-interest loans to help businesses with various projects.
New York/New Jersey News
Chautauqua Plans National Comedy Center Post-Journal \| Mar. 10 \| Economic Development \| Foundations \| State Finance Program \| Federal Upstate Theaters Seek Tax Credit The Daily Gazette \| Mar. 7 \| Economic Development \| State Finance Program \| Tax Credits Heating Costs are Cold Reality This Winter Gazette \| Mar. 3 \| Access to Capital \| Energy Finance \| State Finance Program New York State's Brownfield Tax Breaks are Target of Reform Buffalo News \| Feb. 28 \| Brownfield Financing \| Redevelopment \| State Finance Program \| Tax Credits Several Governors Push Bond Proposals Bond Buyer \| Feb. 26 \| Access to Capital \| Bond Finance States Explore Green Banks to Reduce Risk of Clean Energy Projects E&E Publishing \| Feb. 26 \| Bond Finance \| Energy Finance \| Green Finance \| State Finance Program Ontario County Report Favors North Shore Lakefront Project MPNnow \| Feb. 26 \| Economic Development \| Local Finance Program \| Tax Increment Finance (TIF) \| Tax Abatements >>> SEARCH HEADLINES
New Additions to the Online Resource Database
New York State's SSBCI Capital Access Program Access to Capital \| State Finance Program \| U.S. Dept. of Treasury New York State's Capital Access Program (CAP) is funded through the State Small Business Credit Initiative (SSBCI), a US Treasury program authorized by the US Small Business Jobs Act of 2010. CAP provides portfolio insurance to participating Lenders to increase small business lending in New York State. This program overview is designed to give potential lenders a breakdown of the benefits to participation. Hurricane Sandy Rebuilding Strategy - Stronger Communities, Resilient Region Access to Capital \| Community Development \| Disaster Recovery & Relief \| Infrastructure Finance \| Redevelopment \| Federal The Hurricane Sandy Rebuilding Task Force's rebuilding strategy identifies key obstacles to resilient rebuilding and outlines a long-term redevelopment strategy that promotes the sustainability of communities and ecosystems in the Sandy-affected region. >>> SEARCH ONLINE RESOURCE DATABASE
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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.