The next generation of Congress should start with an issue that affects every voter in every district: the protection of the tax-exemption of municipal bonds to help rebuild our infrastructure. Although not currently under siege, the tax-exemption of municipal bonds becomes more vulnerable with every increase in the deficit. 

Capital City Development Corporation has approved the adoption of new changes to its Participation Program, increasing how much funding is available for private developers who build both affordable and mid-range priced housing in urban renewal districts.

The idea of creating a green bank for Alaska has gradually gained support and interest. REAP, a key clean energy advocacy organization in Alaska, has consulted with policymakers, including the Chief Investment Officer of the Connecticut Green Bank, to understand how green banks work. Further, the former Governor included the idea in a 2018 climate-policy proposal.

Local officials, impact investors, and philanthropy have important roles to play in helping communities access Opportunity Zone financing that benefits current residents. Using Chicago and Cook County as a case study, Urban identifies steps these actors can take to attract helpful investments. 

Economist Jared Bernstein argues for giving the Opportunity Zones incentive a chance before condemning the program as tool for gentrification and tax avoidance. In his estimation, most OZ communities have both the need and capacity to absorb new investment without displacing local residents.

The Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority (AFICA) issued $9M in new bonds to finance the construction and development of a library, a science center and other improvements for Baldwin School of Puerto Rico. It is the first AFICA issue for a new investment since the early 2000s.

The IRS released regulations regarding the requirements for public notice, hearing, and approval of qualified private activity bonds. The Final TEFRA Regulations replace temporary regulations under the Internal Revenue Code of 1954 by finalizing rules set forth in proposed regulations issued in 2017 with a few notable improvements and clarifications.

The Sacramento Housing and Redevelopment Agency plans to issue up to $25 million in tax-exempt mortgage revenue bonds to finance the renovation of 74 low-income housing units in south Sacramento. The financing does not include the addition of any new affordable housing units.

The Port Authority of New York and New Jersey has announced the opening of its new Port Jersey rail facility. The opening culminates a $600 million capital investment program first conceived in the 1990s aimed at establishing direct rail access to on-dock and near-dock intermodal rail services at all of its major marine terminals.

CDFA is pleased to congratulate Keith Klein, Senior Development Specialist, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. A new graduate, Mr. Klein, joins numerous other graduates who have invested in their professional development and are ready to tackle the complexities of the development finance industry.

During this installment of the CDFA // BNY Mellon Webcast Series, expert speakers will highlight various successful P3 state statutes across the U.S. and generally what they allow for. 

The Loan Closing Officer coordinates, monitors, and facilitates loan closings. The position supports the work of the Lending and Portfolio Management Teams. The position involves direct contact with service agencies as well as borrowers and clients.

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