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CDFA California Financing Roundtable Newsletter - August 2014

CDFA California Financing Roundtable Newsletter - August 2014
August 27, 2014
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CDFA California Financing Roundtable Newsletter

Feature

Tax Perk Bills Abound in CA Legislature's Final Week
The Sacramento Bee covers the latest issues in the state legislature, where new and established tax credit programs are vying for new money before the session ends.

States Try to Make it Easier to Raise Money with Crowdfunding
To date, thirteen states plus D.C. have passed laws or regulations allowing startups to use crowdfunding to raise money from investors with less red tape than companies with shareholders, according to GOVERNING.

CA Rate Reduction Bond Program Bill Open for Comments
Assembly Bill 850 authorizes joint power authorities to issue rate reduction bonds to finance publicly owned utility projects until December 31, 2020. CPCFA staff has drafted regulations for review and is accepting comments until September 15, 2014.

California Water Bond Signals Historic Compromise
According to the Press Democrat, the $7.5B water package brokered by Gov. Brown and legislative leaders signals a rare bipartisan accord on a politically divisive issue that has bedeviled CA governors and lawmakers for decades.

California High-Speed Rail Bonds Revived by Appeals Court
According to Bloomberg, a state appeals court has removed a roadblock that would have prevented the California High-Speed Authority from issuing its first round of bonds valued at $8.6B.

Upcoming Events

2014 CDFA California Financing Roundtable Conference
October 9, 2014 - Long Beach
Join CDFA and CALED for the California Financing Roundtable Conference on October 9, 2014 as we focus on "Financing Economic Development: Best Practices & Steadfast Programs." CDFA is excited to partner with CALED to host this specialized initiative for the economic development and project finance professionals in the state. Register today to reserve your spot.

CDFA Spotlight

Congress Introduces Modernizing American Manufacturing Bonds Act
Rep. Randy Hultgren (R-IL) and Rep. Richard Neal (D-MA) introduced the Modernizing American Manufacturing Bonds Act (MAMBA) of 2014, H.R. 5319. H.R. 5319, supported by CDFA and hundreds of issuers throughout the country, is a comprehensive package that will modernize and revolutionize manufacturing bonds.

California News

CaRE EB-5 Regional Center Kicks Off Strategic Relationship
BusinessWire | Aug. 26 | EB-5 Visa

Supporting Small Businesses through Economic Development Offices
Cities Speak | Aug. 22 | Crowdfunding | Innovation Finance | Member News | U.S. Small Business Administration (SBA)

California Hotel Raises $1.5M via Crowdfunding
National Law Review | Aug. 20 | Access to Capital | Crowdfunding

Clearinghouse CDFI, Opportunity Finance Network Close First Ever CDFI Bond
OFN | Aug. 20 | Bond Finance | Community Development | U.S. Dept. of Treasury | U.S. Dept. of Treasury CDFI Fund

Lawmakers Unveil Overhaul of California's Film and TV Tax Credit
Variety | Aug. 18 | Legislative | State Finance Program | Tax Credits

California Crowdfunding Bill Dies in Appropriations Committee
Crowdfund Insider | Aug. 18 | Access to Capital | Crowdfunding | Legislative | State Finance Program

PDC Capital Group Taps EB-5 to Fund $750M in Assisted Living
Senior Housing News | Aug. 15 | Access to Capital | Community Development | EB-5 Visa

Fund Helps Small Fishermen Implement Sustainable Practices
GreenBiz | Aug. 15 | Access to Capital | Foundations | Green Finance

EPA Announces $11M for Brownfields
Environmental Protection Agency | Aug. 15 | Brownfield Financing | U.S. Environmental Protection Agency (EPA) | Federal

Three New EB-5 Regional Centers for Encore Global
PR Newswire | Aug. 14 | EB-5 Visa | Economic Development | U.S. Citizenship and Immigration Services (USCIS)

Gov. Brown Opposes $9B School Bond
Sacramento Business Journal | Aug. 14 | Bond Finance | Infrastructure Finance | State Finance Program

Obama Signs $10.8B Highway Bill
The Hill | Aug. 12 | Access to Capital | Infrastructure Finance | Legislative | U.S. Dept. of Transportation (DOT) | Federal

WNC Closes $125M Institutional LIHTC Fund
GlobeNewswire | Aug. 12 | Access to Capital | Community Development | Tax Credits

USDA Helping to Localize the Food System
Post and Courier | Aug. 8 | Community Development | Food Systems Finance | Rural Development | U.S. Dept. of Agriculture (USDA)

$6.9M PACE Bond Finances EE in California Hotel
Climate Bonds | Aug. 7 | Bond Finance | Energy Finance | Green Finance

Tuolumne Opens Innovation Lab
My Mother Lode | Aug. 6 | Innovation Finance | Local Finance Program | Member News | Rural Development

Coronado Wins Back $5.86M for Redevelopment RLF
Coronado Eagle & Journal | Aug. 1 | Access to Capital | Local Finance Program | Redevelopment | Revolving Loan Funds (RLFs)

Moody's Officials: State Sector Stable, But Some Still Struggling
The Bond Buyer | Jul. 30 | Bond Finance | State Finance Program


New Additions to the Online Resource Database

Enhanced Infrastructure Financing Districts How-To Guide
Infrastructure Finance | Local Finance Program
The California Economic Summit released this guide describing what could be a key infrastructure financing model in the coming years if approved by the California State Legislature.

California FreshWorks Fund Brochure
Access to Capital | Community Development | Food Systems Finance | Tax Credits
This brochure introduces the FreshWorks Fund, which is designed to provide financing to supermarket operators, local food distributors and other food innovators who seek to expand access to healthy food in California.

U.S. Government Accountability Office New Markets Tax Credit Update
Community Development | Tax Credits | U.S. Dept. of Treasury | Federal
The U.S. Government Accountability Office assesses the transparency of NMTC financial structures and controls over the size of federal subsidies; the types and amounts of fees and other costs of the financial structures; the equity remaining in low-income community businesses after the 7-year credit period; and NMTC project failure rates.


Sponsors

Roundtable Partner

California Association for Local Economic Development

Venue Sponsor

Downtown Long Beach Associates

Annual Roundtable Sponsor

ARUP Kutak Rock LLP Piper Jaffray & Co.

Conference Premium Sponsor

Growth Capital Associates, Inc Public Financial Management Renewable Funding

Conference Supporting Sponsor

Bridge Strategic Partners Federal Home Loan Bank San Francisco Goldfarb & Lipman LLP Kosmont Companies Kronick Moskovitz Tiedemann & Girard

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
85 E. Gay Street, Suite 700
Columbus, OH 43215
(614) 224-1300
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor