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Development Finance Review Weekly - July 6, 2017

Development Finance Review Weekly
July 6, 2017
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CDFA Development Finance Review Weekly

Feature

Bill Would Lift Caps on PABs Used to Finance Water, Sewer Infrastructure
Advocates of removing state volume caps for tax exempt private activity bonds used to finance water and sewer projects have once again reintroduced bipartisan legislation in the House.

Honing Solar Financing Tools Can Build the Market
How can solar financing be improved in the United States? Experts shared their vision for the future at the Green Investing Conference held by the Information Management Network (IMN).

Free Interactive Course Simulates Decision-Making about Investing in Municipal Bonds
The Municipal Securities Rulemaking Board (MSRB) launched a free, interactive online course to help investors understand how municipal bonds work and assess how they might fit into a balanced portfolio.

Gov. Cuomo Extends Tax Incentives to help Lower Manhattan
Governor Andrew Cuomo has signed a bill to extend tax incentives for office tenants and developers in Lower Manhattan for three years. The package, which includes the Commercial Revitalization Program, a tax break designed to encourage investment in buildings with commercial tenants, was extended during a special session in Albany.

CDFA Sponsors Successful Capitol Hill Day
On June 16, as part of the CDFA Federal Urban Finance Forum, CDFA brought 19 people to Capitol Hill to advocate for the development finance industry. CDFA advocacy efforts were focused primarily on the Modernizing American Manufacturing Bonds Act, which has been introduced in both the U.S. House of Representatives and the U.S. Senate.

Kresge Commits $30M to Community Development
Kresge Community Finance, launced in 2016, has committed $30 million in loans to 14 CDFIs and DFAs around the country.

Upcoming Events
CDFA Summer School
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Restructured Federal Freight Grants to Offer 'More Bang for the Buck'
The Trump administration has reconfigured and renamed a $4.5 billion discretionary grant program dedicated to freight-related transportation infrastructure to put more emphasis on projects that can leverage additional state, local, or private financing.

Federal TIFIA Loan Helps Fund $2 Billion Rail Station P3 in NYC
A $537.5 million low-interest federal loan will provide most of the state's contribution to the $1.85 billion redevelopment of an old post office in Manhattan into a modern train station being financed as a public-private partnership.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Upcoming Webcasts

CDFA // BNY Mellon Webcast Series: Special Assessment Techniques for Transformative Community Improvements
July 18, 2017 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, our expert speakers will discuss new and innovative uses for special assessments and how this tool is poised for greater use nationwide.

USDA Rural Community Development Initiative + Grant Application Tips
July 14, 2017 - 1:00 PM Eastern
During this special webinar from CDFA, learn from expert speakers and previous awardees as we discuss the RCDI program, how to apply, and recommendations for successful applications.

This Week's Headlines

Hudson Companies Closes Second Phase of $107M Brooklyn Project
Commercial Observer | Jul. 5 | Bond Finance | Redevelopment

Virginia Food Co-Op Expands Aided by RLF
Business North | Jul. 5 | Food Systems Finance | Revolving Loan Funds (RLFs)

CDFA Announces Kentucky League Of Cities as Official Partner of Kentucky Roundtable
CDFA | Jul. 5 | CDFA Press Releases

Panel Installers Unsure About Solar Industry's Outlook Without Incentives in WA
The Seattle Times | Jul. 1 | Energy Finance | Incentives | Federal

Urban Shepherd Looking at Setting up RLF for Future Projects
Farm and Dairy | Jun. 30 | Food Systems Finance | Agriculture Finance | Urban Development | Revolving Loan Funds (RLFs)

Bethlehem, PA Extends Tax Incentive That is Credited with Creating 4K Jobs
Leigh Valley Live | Jun. 30 | Brownfield Financing

E-Commerce Boosts Demand for Brownfield Redevelopment
Bureau of National Affairs | Jun. 30 | Brownfield Financing

Brownfields Bill Would Preserve 2002 Funding Levels
Bureau of National Affairs | Jun. 30 | Brownfield Financing

Three Companies Set to Bring 333 Jobs to Rutherford, TN
The Murfreesboro Post | Jun. 28 | Economic Development | Incentives | State Finance Program

NY Expected to Set High Bar For Energy Storage After Target Bill Passage
UtilityDIVE | Jun. 27 | Energy Finance | Legislative

MD Paper Co. to Expand With Tax Credit
Herald Mail Media | Jun. 27 | Tax Credits | Economic Development

Gov. Hogan Talks Development in MD
Delmarva Now | Jun. 26 | Redevelopment | Infrastructure Finance | State Finance Program

New Botanical Research Company Receiving Tax Credits in MD
Baltimore Business Journal | Jun. 26 | Economic Development | Tax Credits | Incentives

Bond Revenue Funding Auxiliary Gym in Laffayette, VA
The Virginia Gazette | Jun. 24 | Bond Finance

Deadline Approaching for Arts Building Community Grants in TN
Citizen Tribune | Jun. 24 | Community Development | Local Finance Program | Social Finance

Pathway Lending Celebrates 10 Years of TN Rural Opportunity Fund
Lebanon Democrat | Jun. 23 | Public-Private Partnership (P3) Financing | Rural Development | State Finance Program

Cleveland, TN to Receive $1.2M RLF for Water System Improvements
The Chattanoogan | Jun. 23 | Water Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

RI and Soon NY Using Incentives to Fund Offshore Wind Farms
CGTN America | Jun. 23 | Energy Finance | Federal | Incentives

VA Transportation Board Approves $18.6B Improvement Program
Equipment World | Jun. 22 | Infrastructure Finance | Public-Private Partnership (P3) Financing

Akron Community Revitalization Fund Receives $35K Grant
Development Fund of the Western Reserve | Jun. 22 | Community Development

$15M Bel Air Reservoir Construction Expected to Start Soon with RLF Funds
The Baltimore Sun | Jun. 12 | Water Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

Gap Inc. to Add More Than 500 Jobs in TN Aided with Tax Credits
Times Free Press | Jun. 9 | Economic Development | Tax Credits | Incentives

Proposed Restaurant TIF Gets Budget Commitee OK in TN
The Greenville Sun | Jun. 9 | Food Systems Finance | Tax Increment Finance (TIF)


New Additions to the Online Resource Database

Philanthropic Financing - The East Baltimore Revitalization Initiative
Community Development | Economic Development | Innovation Finance | Social Finance
The East Baltimore Revitalization Initiative is the largest urban redevelopment effort in Baltimore since the successful redevelopment of the Inner Harbor. This report focuses specifically on financing strategies that have helped move the project forward, and details the important role the Annie E. Casey Foundation played in leveraging its philanthropic resources in innovative ways to bolster this initiative.


National Sponsor Spotlight

Hawkins Delafield & Wood LLP Hawkins Delafield & Wood LLP
Hawkins Delafield & Wood LLP is the only national law firm in the U.S. whose practice is devoted primarily to public finance and public projects. The firm has more attorneys engaged in the full time practice of public finance and projects than any...
Ice Miller LLP Ice Miller LLP
Ice Miller LLP is a full-service firm with the resources it needs to counsel its clients and deliver quality legal advice. Ice Miller offers a broad array of capabilities in virtually all areas of the legal practice.
KeyBanc Capital Markets KeyBanc Capital Markets
KeyBanc Capital Markets is an investment banking firm serving issuers of tax-exempt debt for over 40 years. Their team identifies opportunities, designs financing structures and develops an array of solutions that meet and exceed clients' financial...

Partner Spotlight

Association of Development Financing Institutions in Asia and the Pacific Association of Development Financing Institutions in Asia and the Pacific
The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) is the focal point of all development banks and other financial institutions engaged in the financing of development in the Asia-Pacific region. Its mission is to...

CDFA Bookstore

Cover thumbnail Advanced Bond Finance Reference Guide
The Advanced Bond Finance Reference Guide is written for professionals who already have an understanding of tax-exempt financing and seek detailed instruction on complex financing techniques.

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
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor