Development Finance Review Weekly - October 20, 2022
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Features |
We are Excited for the CDFA National Development Finance Summit, Presented by CHFA
We hope to see you in Denver, CO on November 2-4 for the CDFA National Development Finance Summit, Presented by CHFA. This in-person event will bring together the leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. After a long three years, we can't wait to see you there!
Freeport, IL Replacing 700 Lead Service Lines After Receiving $4M in State Funding
The city of Freeport will receive $4M in funding from the Illinois Environmental Protection Agency to replace lead service lines in the community. The funding is provided through the Illinois EPA's State Revolving Fund, which provides low-interest loans for drinking water, wastewater, and storm water projects. The city of Freeport will receive 100 percent principal forgiveness for this loan.
CDFA Recognizes Craig Teamer, DFCP
The Council of Development Finance Agencies (CDFA) is pleased to welcome Craig Teamer as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. A new graduate, Mr. Teamer, joins the ranks of fellow graduates who are recognized as the most qualified leaders in the development finance industry.
Mega Northeast D.C. Development Site Sold, 1,500 Residential Units Planned
Standard Real Estate Investments plans to advance a previously entitled mixed-use redevelopment with roughly 1,500 residential units and 120,000 square feet of retail. About 300 units would be affordable, developed with NHT Communities. Northeast Heights is located within a federal opportunity zone and the project has been discussed as a potential recipient of tax-increment financing support.
$6.9M to Support Economic Development, Opportunities of Pennsylvania's Coal-Impacted Communities
Governor Tom Wolf joined Gayle Manchin, Federal Co-Chair for the Appalachian Regional Commission (ARC), and his gubernatorial peers of the Appalachian region to announce more than $6.9 million being devoted to Pennsylvania's coal communities to support economic development projects for improved opportunities.
Avery Brothers Sign Company to Build New $3M Facility in Sioux Falls, SD
Avery Brothers Sign Company intends to construct a new $3 million facility in Sioux City, SD, which will contain office space, warehouse space, and a shop. City staff is working on an agreement with Avery Brothers, which would provide property tax rebates equal to 75% of the new taxes created on the property for a five-year period. The project would generate roughly $60,000 per year in new property taxes captured by the TIF district.
Learn More About Tools for Rural Communities from USDA!
Join CDFA for the next installment of the Federal Financing Webinar Series with USDA on October 25. Speakers will discuss programs that can help with projects in your community such as constructing or improving facilities to provide broadband service, creating and maintaining jobs in rural communities, reducing poverty in rural communities, creating business plans and feasibility studies, and forming rural business incubators.
$10M Grant Billed as ‘Largest' in Starr County, TX to Address Water
A $10M grant has been awarded to improve Rio Grande City's water supply and treatment thanks to funding from the U.S. Department of Agriculture. The grant will help colonias in Starr County by funding the construction and installation of various systems.
USDA Announces More Than $71M to Support Underserved Communities
The U.S. Department of Agriculture (USDA) announced a more than $71M investment to help underserved communities. Funding is made possible through two key USDA programs: USDA's 2501 Program and the American Rescue Plan Technical Assistance Investment Program. These investments are part of USDA's commitment to take aggressive action to advance equity for all, especially for farmers and producers in underserved communities.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Baker Tilly Adds Climate Bond Verification Status to Its Services
Baker Tilly US LLP joined the ranks of firms with an ability to offer an independent verification for a "certified climate bond" label on debt. The approved verifier status allows for the Chicago-based accounting firm that offers municipal advisory services to assign the label to bonds and other debt instruments based on a review of the project's adherence to the Climate Bonds Standard and Certification Scheme.
States Push Back on Proposal to Set Greenhouse Gas Reduction Targets
Senator Shelley Moore Capito, R-W. Va., led a group of 27 Republican senators in a letter to the U.S. Department of Transportation logging their opposition to a proposed rule requiring states and localities to set greenhouse gas reduction targets and develop a method for measuring them.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.
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Upcoming Webcasts |
CDFA Federal Financing Webinar Series: Tools for Rural Communities from USDA
Tuesday, October 25, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the U.S. Department of Agriculture for financing broadband, food systems, healthy food access, and small businesses – all with a focus on rural areas.
CDFA // BNY Mellon Development Finance Webcast Series: Funding Childcare Facilities
Tuesday, November 15, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA// BNY Mellon Development Finance Webcast Series, presenters will look across the development finance spectrum for ways to invest in child care facilities with tools like bonds, RLFs, tax credits, and more. Experts will also highlight various case studies that have successfully utilized these tools.
CDFA-Bricker Webinar Series: PACE and Traditional Lending Institutions
Tuesday, November 22, 2022 - 2:00 PM - 4:00 PM Eastern
Since the origins of PACE financing in the early 2010s, PACE lenders have been primarily non-traditional lending institutions. However, with the explosive growth of PACE across the country, the traditional lending world has begun to enter the PACE market. In this session, attendees will get an overview of the PACE lending history and the influx of traditional lending institutions across the country.
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Job & RFP Postings |
NCRC-CDF Underwriting & Loan Service Specialist
NCRC CDF is seeking an Underwriting & Loan Service Specialist who is an exceptional multi-tasker that is goal-oriented and highly detailed. The Underwriting & Loan Service Specialist will oversee a high volume of small business loan inquiries from application through underwriting, funding, and post-closing activities, manage existing borrower customer support and provide overall program support within the small business and affordable housing programs.
CDFA-Manager Research & Technical Assistance
CDFA is seeking a motivated, well-organized, and energetic individual to fill the position of Manager, Research & Technical Assistance. This position will be responsible for working with fellow CDFA team members to manage and execute a research initiative working with state departments of agriculture to increase access to finance programs among socially disadvantaged farmers of color. The position will also involve various activities related to ongoing research, project planning, stakeholder engagement, and writing.
Philadelphia Industrial Development Corporation-President
Philadelphia Industrial Development Corporation is seeking a President position. The President is elected by the Board of Directors as its Chief Executive Officer and has general charge and supervisory authority over the business and affairs of PIDC, subject to control and direction of the Board. The President leads PIDC's strategies, resources, products, transactions, and partnerships, promoting investment and development that drives inclusive economic and job growth to every part of Philadelphia.
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This Week's Headlines |
Cannabis Grants Help Fund Businesses in Illinois
Illinois Times | Oct. 19 | Cannabis Finance | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Evansville, IN New DG Market on North Main Is Getting a Boost From Taxpayers
Courier & Press | Oct. 19 | Economic Development | Food Systems Finance | Local Finance Program | Redevelopment | Tax Increment Finance (TIF)
Downtown Redevelopment Expansion, Moving Forward With Library Renovation Plans in Kingsport, TN
Kingsport Times News | Oct. 18 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Renovation Plans for Downtown Elgin, IL's Dupage Court
Chicago Tribune | Oct. 18 | Community Development | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)
Arkansas Officials Create Grain Bin Rescue Unit
Delta FarmPress | Oct. 17 | Agriculture Finance | Rural Development
City of Chattanooga, TN to Issue $186M in Sewer Bonds
The Chattanoogan | Oct. 17 | Bond Finance | Infrastructure Finance | Water Finance | Case Studies | Water Finance | Sewage & Waste
City of Wooster, OH Moves to Clean Up Contaminated Tire Centers Property Downtown
The Daily Record | Oct. 17 | Brownfield Financing | Economic Development | Redevelopment | State Finance Program
Glen Carbon, IL OKs Orchard Town Center Amendments
Edwardsville Intelligencer | Oct. 17 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Governor Laura Kelly Announces Record Interest in Rural Housing Development in Kansas
KRSL | Oct. 17 | Housing Finance | Legislative | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits
Housing Project Needs City Council Approval for Bond Financing in Fairfield, CA
Daily Republic | Oct. 17 | Bond Finance | Housing Finance | Infrastructure Finance
Six TIF Districts Proposed for 12-Year Extensions in Chicago, IL
City of Chicago | Oct. 17 | Economic Development | Redevelopment | Tax Increment Finance (TIF) | Urban Development
Council to Review and Act On Three TIDs in Waukesha, WI
GMToday.com | Oct. 15 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
North Carolina to Receive $1.54B from Bipartisan Infrastructure Law
Yahoo | Oct. 15 | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | Transportation
Council Set to Approve Biodistrict Agreement in New Orleans, LA
Gambit | Oct. 14 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Michigan Getting Over $200M in New Federal Funding for Water Infrastructure
Michigan Radio | Oct. 14 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | Water Finance | Water Finance | Drinking Water
$16M Road Opens Up Aetna Mountain for 1,200 Homes in Chattanooga, TN
Chattanooga Times Free Press | Oct. 14 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
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National Sponsor Spotlight |
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
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Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...
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Stifel Nicolaus
Stifel Nicolaus, founded in 1890, is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments saving millions of dollars for our public and...
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital, and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment, and job creation.
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New Members |
Ketchikan Indian Community - Ketchikan, AK
Louisville Metro Government - Louisville, KY
Wisconsin Economic Development Corporation - Madison, WI
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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