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CDFA Energy & Water Finance Update - July 16, 2019

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CDFA Energy and Water Finance Newsletter
July 16, 2019
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Energy & Water Finance Update


USDA Invests $192M in Rural Water and Wastewater Infrastructure
USDA is making the $192 million investment through the Water and Waste Disposal Loan and Grant program. Rural communities, water districts, and other eligible entities can use the funds for drinking water, stormwater drainage, and waste disposal systems in rural communities with 10,000 or fewer residents.

Junk Debt Investors Welcome Rare Green Bond
Hannon Armstrong, which finances renewable energy and power efficiency projects, raised $350 million from its bond sale. The green sale is the first from a high-yield company that does business primarily in the U.S. to price since March 2017, and one of five actively trading green junk bonds.

PACE Equity Deal First in Nation to Combine PACE Funding and an OZ Fund
PACE Equity recently completed funding $4.3 million for the construction of a new Hyatt House hotel in Rochester, Minnesota. It is notably the first Opportunity Zone fund project in the nation to include PACE funding to date. The hotel developer turned to PACE Equity, who ultimately funded $4.3 million. The remainder of the capital stack was provided by a construction loan of $29.7 million and $14.4 million equity.

Construction Resumes on $6.6M Hydroelectric Facility in Canton, CT
Construction has resumed on a small hydroelectric facility in Canton, CT. The total project cost is about $6.6 million, with the Connecticut Green Bank providing a $1.2 million subordinate loan and $500,000 limited guaranty to leverage a $4.7 million senior loan from The Provident Bank through the U.S. Small Business Administration.

$7.6M Slated For Enfield Water Pollution Control Facility
The recent sale of $280 million of State of Connecticut State Revolving Fund General Revenue bonds, most of which were sold as Green Bonds, will help finance critical wastewater and drinking water infrastructure projects through the State's Clean Water and Drinking Water Programs.

NJ Senate Passes Bill Expanding Property Assessed Clean Energy Program
Legislation, which would authorize municipalities to facilitate public or private financing of water conservation, storm resiliency projects, and energy projects through the use of voluntary special assessments, was passed by the Senate.

Can P3s Jumpstart Smart Cities?
While the intricacies of public-private partnerships can be tough to navigate, they have been successful in helping cities build the kind of digital infrastructure that's necessary for today's urban economy and society. Ultimately, the sheer scope of many P3-based transformations is the greatest challenge.

ID City Receives $3M in Drinking Water Construction Loan
The City of Athol in Kootenai County has been awarded a $3,286,000 dollar low-interest drinking water construction loan by the Idaho Department of Environmental Quality. The funding will be used to construct a new water system for the town and includes demolishing two existing water reservoirs, modifying an elevated water reservoir, constructing a standpipe and water main, adding a transmission line, electrical, pump and building upgrades.

Upcoming Events
CDFA Summer School

CDFA EDA Revolving Loan Fund Webinar Series: Building Partnerships to Maximize Your RLF Impact
August 6, 2019 - 2:00 PM Eastern
During this webinar expert speakers discuss the various partnerships your organization can structure in order to maximize your RLF's impact.


EPA Finalizes Affordable Clean Energy Rule
The U.S. EPA issued the final Affordable Clean Energy (ACE) rule – replacing the prior administration's overreaching Clean Power Plan (CPP) with a rule that restores the rule of law and empowers states to continue to reduce emissions while providing affordable and reliable energy for all Americans. 

Energy Finance News

Several Pieces of Federal Legislation Propose PAB Expansions
The Bond Buyer | Jul. 11 | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Legislative

$36M Approved for Water Projects in 5 MN Cities
Voice of Alexandria | Jul. 10 | Access to Capital | Community Development | Infrastructure Finance | Water Finance

Portland, ME Water District Issues First 'Green' Bonds
Mainebiz | Jul. 8 | Bond Finance | Green Finance | Infrastructure Finance | Water Finance

Cleveland, TN Receives $1.7M for Drinking Water Improvements
Cleveland Daily Banner | Jul. 8 | Access to Capital | Community Development | Revolving Loan Funds (RLFs) | Water Finance

TX City to Receive $1M in Disaster Recovery Funds
Hill Country Community Journal | Jul. 7 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | Water Finance

IL Gov. Signs $45B Infrastructure Construction Bill
Storm Water Solutions | Jul. 4 | Access to Capital | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Lawmakers Propose Extending Offshore Wind Tax Credit
Offshore Engineer | Jul. 3 | Energy Finance | Green Finance | Legislative | Tax Credits

Rural America Could Power a Renewable Economy
Clean Cooperative | Jul. 2 | Agriculture Finance | Energy Finance | Green Finance | Rural Development

OH Will Become Fourth State to Offer Residential PACE for Energy Improvements
JDSupra | Jul. 1 | Community Development | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

FL Flood, Storm Risk Shows Value of Programs Like PACE
SunSentinel | Jun. 27 | Community Development | Disaster Recovery & Relief | Energy Finance | Property Assessed Clean Energy (PACE)

NY and OH Muni Water Deals Price; IL Tollway Authority Sells Bonds
The Bond Buyer | Jun. 25 | Bond Finance | Infrastructure Finance | Water Finance

PACE Finance Provides $900K C-PACE Financing for Car Wash in Omaha, NE
Yahoo Finance | Jun. 25 | Community Development | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Water Finance

NJ Selects Ocean Wind for State's First Offshore Wind Project
Yahoo Finance | Jun. 24 | Access to Capital | Community Development | Energy Finance | Infrastructure Finance

UC Santa Cruz, CA Student Housing West to Ease Housing Crunch
Yahoo Finance | Jun. 21 | Community Development | Energy Finance | Housing Finance | Public-Private Partnership (P3) Financing

National P3 Update: Water and Sewer Infrastructure
JDSupra | Jun. 21 | Community Development | Infrastructure Finance | Public-Private Partnership (P3) Financing | Water Finance

Summit County, OH to Roll Out Financing Program for Home Energy Improvements
Cleveland.Com | Jun. 21 | Community Development | Energy Finance | Property Assessed Clean Energy (PACE)

Duke Energy Renewables' Largest Solar Project Now Online in CA
Yahoo Finance | Jun. 20 | Access to Capital | Energy Finance | Green Finance

Pulaski, Washington Counties, AR Plan Solar Savings for Taxpayers
Arkansas Business | Jun. 19 | Community Development | Energy Finance | Green Finance

$1.6M C-PACE Financing for Denver, CO Seminary
Cision PR Newswire | Jun. 19 | Energy Finance | Property Assessed Clean Energy (PACE)

Highlights from the Online Resource Database

USDA Report on Agriculture and Rural Prosperity 2019
Access to Capital | Agriculture Finance | Energy Finance | Food Systems Finance | Infrastructure Finance | Rural Development | Tribal Finance | U.S. Dept. of Agriculture (USDA) | Water Finance
On April 25, 2017, the President of the United States established the Interagency Task Force on Agriculture and Rural Prosperity through Executive Order 13790. The purpose and function of the Task Force was to identify legislative, regulatory, and policy changes to promote agriculture, economic development, job growth, infrastructure improvements, technological innovation, energy security, and quality of life in rural America.

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 visit CDFA.net or email info@cdfa.net

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

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