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Development Finance Review Weekly - November 24, 2022

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Development Finance Review Weekly
November 24, 2022
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CDFA Development Finance Review Weekly

Features

CDFA Food Systems Finance Best Practices Guidebook, Available Now!
Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems Finance Best Practices Guidebook defines how traditional development finance tools can be used to launch and expand food and agricultural-related businesses and projects and create successful food systems finance programs at the local and regional levels.

Dallas, TX C-PACE Financing Program Grows in Popularity to Help Bridge CRE Projects
Commercial Property Assessed Clean Energy (C-PACE), a previously little-known financing mechanism for property owners and developers to access capital for new construction developments and substantial rehabilitation projects, is gaining popularity in the Dallas region, and growing rapidly throughout the country.

Nebraska Receives $5.6M in Federal Funding for Broadband Expansion
Nebraska was awarded two federal grants totaling nearly $5.6 million so the state can develop strategic plans to expand high-speed broadband service. The grants from the National Telecommunications and Information Administration went to Connect Nebraska which was formed to find broadband funding for the state.

Michigan Tech Gets $8M to Research EV Battery Recycling
Michigan Tech University is receiving more than $8 million of federal infrastructure funding to develop technologies and processes to recycle and reuse batteries from electric vehicles. The funding was awarded as part of a bipartisan initiative from the U.S. Department of Energy.

New State Rules Could Expand Public Broadband in Rural Washington
Private companies seeking to limit public broadband expansion into rural areas they serve or plan to serve may have to provide greater proof of service as part of a state board's revised objection process. The rule changes, set to be finalized in February, would likely affect the distribution of Washington's share of a $42 billion federal infrastructure program set to roll out next summer.

National Resources Conservation Services Requests Public Comment on the IRA
The Natural Resources Conservation Service (NRCS) requests public input by December 21, 2022, to inform how NRCS will fund the deployment of climate-smart practices on US farms, ranches, and forestlands through four Farm Bill conservation programs. NRCS is also requesting input on funding to quantify carbon sequestration and carbon dioxide, methane, and nitrous oxide emissions at the field scale.

Fort Wayne, IN Awarded $45M in New Markets Tax Credits
The City of Fort Wayne New Markets Revitalization Fund, LLC (FWNMRF) will receive $45 million in NMTC allocation authority. Over 230 CDEs applied for New Markets funding from the U.S. Department of the Treasury, while only 107 were awarded an allocation. This is the fourth time that FWNMRF has been awarded, bringing its total tax credit allocation to $148 million.

Sen. Jacky Rosen Wants to Ensure Cannabis Small Businesses Can Access SBA Loans 
U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, introduced the Fair Access for Cannabis Small Business Act to ensure that legally operating cannabis small businesses have access to loans and programs provided by the Small Business Administration (SBA).

Upcoming Events
Intro Brownfields Finance Course
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

American Dream Mall in New Jersey Gets Construction Lender Lifeline
Triple Five, owner of the American Dream mall in New Jersey, has struck a deal with a group of creditors led by JP Morgan that grants the developer a four-year extension on overdue construction debt. The agreement has the potential to ease pressure on $1.1 billion of tax-exempt bond debt taken on separately to finance the massive mall and entertainment venue some of which is in payment default.

Chicago Will Debut First Social Bond Under Higher-Rated STSC Credit
Chicago's inaugural environmental, social, and governance-oriented bond will carry a "social" label and sell under its higher-rated Sales Tax Securitization Corp. credit to widen appeal for retail investors — especially those with a local address.

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.

Upcoming Webcasts

CDFA Infrastructure Finance Learning Series: How Different Communities Can Benefit From IIJA
Tuesday, December 6, 2022 - 1:00 PM - 4:00 PM Eastern
One of the goals of the IIJA is to foster an equitable economy by investing in historically underserved and under-resourced communities. Infrastructure challenges in these areas range from public transportation to digital access to online information. Speakers on this final installation will cover the variety of problems experienced across different communities - including those in urban, mid-sized, rural, and tribal communities - to discuss how IIJA funds can best be deployed.

CDFA-Bricker Webinar Series: Democratization of Power
Wednesday, December 7, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will explore the potential utility cost savings and community benefits that municipalities can achieve by going solar. The presentation will provide examples of Ohio municipalities that have implemented solar projects and discuss these communities' path towards solar development. The panel will also discuss the potential issues and hurdles municipalities should consider when seeking to develop a solar project for their communities.

CDFA Federal Financing Webinar Series: Tools for Economic Growth with Treasury and SBA
Tuesday, December 13, 2022 - 2:00 PM - 3:30 PM Eastern
This session will highlight the resources available at the U.S. Department of the Treasury and Small Business Administration to finance economic growth in distressed communities. Featured programs include the State Small Business Credit Initiative, the CDFI Fund, New Market Tax Credits, and other small business financing programs like SBA 504 and 7a.

Job & RFP Postings

NJEDA-Closing Officer-Bonds and Incentives
NJEDA is seeking a closing officer who provides detailed and accurate review and preparation of basic to moderately complex legal documents regarding taxable and tax-exempt bonds; tax credit incentive programs; and a diverse portfolio of grant programs. Closes and manages activities related to bonds, all incentive and grant products.

NJEDA-Senior Compliance Officer - Bonds
This position independently manages bond-related post-closing matters including bond modifications; handles compliance efforts and inquiries on closed tax-exempt bonds to identify and control reputational and financial risk associated with NJEDA conduit bond issues. Mentors and trains less experienced staff. Serves as subject matter expert.

NJEDA-Senior Small Business Liaison
This position markets and promotes State and EDA products and services according to the department outreach plan. Promotes products and services focusing on small, women, minority, and veteran-owned business enterprises and entrepreneurs. Works directly with and proactively builds a robust network through outreach to businesses and organizations serving targeted businesses.

NJEDA-Team Lead - Loan Servicing
NJEDA is seeking a team lead who will lead a team of employees charged with credit risk and customer relationships on assigned portfolio of loans, guarantees and grants. The lead will also manage and service an assigned portfolio of loans, guarantees and grants, and ensure compliance of credit projects.

This Week's Headlines

Clean Energy and Climate are Poised to Take Priority in Minnesota Legislature
Sahan Journal | Nov. 21 | Energy Finance | Green Finance | Legislative

Kansas and Missouri Projects Start in First Year of Federal Infrastructure Legislation
Kansas City Business Journal | Nov. 21 | Infrastructure Finance

New York Climate Coalition Launches Campaign for State Action
Times Union | Nov. 21 | Energy Finance | Legislative

U.S. Aims for Zero-Emissions Heavy-Duty Vehicles by 2040
Yahoo Finance | Nov. 21 | Energy Finance | Green Finance

Warner, Kaine Announce $5M in Broadband Funding in Virginia
SWVA Today | Nov. 21 | Infrastructure Finance

Wayne County, MI Continues to Invest In Detroit Through C-PACE
Cision | Nov. 21 | Energy Finance | Property Assessed Clean Energy (PACE)

White House Announces $13B in Funding to Modernize Power Grids
Reuters | Nov. 21 | Energy Finance | Infrastructure Finance

Xcel Energy is Recruiting Minnesota Cities to Thwart Governor's Clean Energy Agenda
Energy and Policy Institute | Nov. 21 | Energy Finance

Yellow School Buses Go Green to Cut Emissions in Dallas, TX
The Dallas Morning News | Nov. 21 | Energy Finance | Green Finance | Infrastructure Finance

$1.2T Infrastructure Bill Has Its First Birthday; What Did Louisiana Get?
Nola.com | Nov. 21 | Infrastructure Finance

$90M in Energy and Construction Financing for California's West Harbor
The Real Deal | Nov. 21 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

7 Tax Credits Small Business Owners Need to Know About
The Ascent | Nov. 19 | Healthcare | Tax Credits

Eldred Township in Pennsylvania Approves Tax Credit for Firefighters
Tnonline.com | Nov. 18 | Incentives | Tax Credits

Finance Authority in Louisiana Looking to Branch into Film Funding, Historic Tax Credits
BusinessReport | Nov. 18 | Economic Development | Tax Credits

Marijuana Industry Hopeful for Federal Reform During Lame-Duck Congress
MJBizDaily | Nov. 18 | Access to Capital | Cannabis Finance | Economic Development | Federal | Legislative | Social Finance | Legal & Regulatory | Policies & Procedures

$2B in Tax Credits Will Benefit Natural Gas in Pennsylvania
The Allegheny Front | Nov. 18 | Energy Finance | Federal | Incentives | Infrastructure Finance | Tax Credits


National Sponsor Spotlight

Kutak Rock LLP Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 500 lawyers with offices from coast to coast. Their firm serves local, regional and national clients in a practice that spans a wide range of disciplines. They encourage their attorneys to take...
McGuireWoods McGuireWoods
With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP uses client-focused teams to serve public, private, government, and nonprofit clients from virtually every area of the law. To complement their services, they offer...
MuniCap, Inc. MuniCap, Inc.
MuniCap, Inc. is a public finance consulting firm based in Columbia, Maryland that specializes in the public finance aspects of redevelopment. MuniCap is headquartered in Columbia, Maryland, with additional offices located in Dallas, Texas,...

Partner Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail 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.

New Members

Albion Economic Development Corporation - Albion, MI

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