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Development Finance Review Weekly - August 17, 2023

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Development Finance Review Weekly
August 17, 2023
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CDFA Development Finance Review Weekly

Features

Join CDFA at The 2023 National Development Finance Summit
CDFA is traveling to Philadelphia, PA for the 2023 National Development Finance Summit! The NDFS brings together leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. Register today for Early Bird rates!

Nearly $40M Workforce Housing Credits Granted for Iowa Housing Units
Iowa's most rural counties have been granted $20 million to redevelop abandoned, empty or dilapidated properties. Iowa's 11 highest-populated counties received $18 million, to make a statewide total of $38 million in workforce housing credits granted to support more than 2,000 residential units.

Learn About Financing Tools to Catalyze Investment in Local Food Systems!
Investment tools encourage private sector engagement in food-related projects and businesses by attracting investors. Programs at the state and federal levels reduce financial barriers and provide incentives for funding new machinery, technology, and construction. Join us on Tuesday, August 29 at 2:00 PM ET as we explore how these programs can offer unique financing solutions and catalyze investment in local and regional food systems.

New Pasadena Condo Project in California Picks Up $5M in Green Financing
A new 19-unit condominium project in Pasadena's Playhouse District has secured $5 million in financing from a program that supports energy-efficient and resilient building improvements. The project is envisioned as including 11 one-bedroom units and eight two-bedroom units, with private roof-top patios for the penthouse units. It will also have 32 parking spaces. Construction is expected to begin soon and will be completed by late 2024.

Tacoma, WA Considering Tax Credit Increase for Clean Energy, Green Companies
City officials are pitching a revision of the tax incentive for green jobs to more closely align with the Tacoma Green Economic Development Strategy, the city's plan for taking advantage of public and private sector efforts to decarbonize, including new businesses that provide meaningful work and create jobs by solving environmental problems.

Whiteland, IN Approves 2nd $7.3M TIF Bond for Patch Mixed-Use Development
Construction on a massive mixed-use development in Whiteland started a year ago, and now developers say they are ready to move to phase two. The Whiteland Town Council approved a $7.3 million bond to finance the second part of the Gateway at Whiteland mixed-use development. Both bonds will be paid back entirely with money from tax-increment finance.

Louisiana to Receive $603M for Infrastructure Projects Under Bipartisan Infrastructure Law
Louisiana will receive up to $603 million from the Department of Energy to plan and construct Direct Air Capture Hubs in the state, making it the largest single award from the Infrastructure Investment and Jobs Act in the entire country. Project Cypress, to be located in southwest Louisiana, is receiving an initial $50 million to begin development of a regional DAC hub. 

Maryland Invests $1.5M in SSBCI Funds in Three Emerging Companies
The Maryland Technology Development Corporation (TEDCO) continues to scan the local early-stage company landscape for health technology companies that it can invest in, providing resources for those companies to put down roots and grow in Maryland. It invested in three emerging Baltimore companies with $500,000 investments each.

Upcoming Events
CDFA National Development Finance Summit
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

S&P Backs Down From ESG Scores Critics Called 'Confusing'
S&P Global Ratings' announcement it will not release new or updated environmental, social, and governance credit indicators in public finance comes amid confusion over their impact on bond ratings, as well as an anti-ESG backlash that produced a deluge of legislation this year to stop the factors' encroachment in government activities.

Tulsa, OK Voters Pass Bonds for Infrastructure Plan
Voters in Tulsa, Oklahoma, approved an $814 million infrastructure funding package that includes nearly $385 million of general obligation bonds the city expects to sell over seven years.

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

SSBCI Learning Series - Enhanced Efforts to Engage and Support SEDI-Owned Business
August 24, 2023 - 2:00 PM - 4:00 PM Eastern
In this installment of the SSBCI Learning Series, speakers will discuss different considerations for designing small business financial products tailored to meet the needs of SEDI-owned businesses and outreach strategies to ensure those products are accessible, the linkage between SEDI-owned businesses and emerging fund managers, and how to deploy capital to SEDI-owned businesses and secure the information needed for reporting and compliance.

CDFA Food Systems Finance Webinar Series: Investment Tools & Food Systems
August 29, 2023 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we explore how programs at the state and federal levels can offer unique financing solutions and catalyze investment in local and regional food systems.

CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop
September 7, 2023 - 1:00 PM - 4:00 PM Eastern
The CDFA Minority Capital Loan Guarantee Program: Behavioral Change Strategy Workshop will provide development finance agencies (DFAs) enrolled in the second tranche of the Program with detailed instruction and guidance geared toward the development of their behavioral change strategies. The workshop will also include an equitable lending presentation and a discussion of best practices for unlocking capital for underserved borrowers.

Job & RFP Postings

Business Oregon-RFP for Bond Counsel
The Oregon Business Development Department (Business Oregon) is seeking proposals from firms with the expertise to serve as bond, disclosure, and tax counsel (Bond Counsel) in providing services related to the structuring, sale and issuance of State of Oregon Revenue Bonds and Private Activity Bonds issued on behalf of Business Oregon by the Office of the Oregon State Treasurer.

This Week's Headlines

White House Releases Fact Sheet to Mark Inflation Reduction Act's One-Year Anniversary
The White House | Aug. 16 | Access to Capital | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Tax Credits | Legislative Activities

Collin County, TX Voters to Decide on $683M Bond Issue for Infrastructure
Local Profile | Aug. 15 | Bond Finance | Infrastructure Finance | Transportation

Nevada Tribes Receive $826K EPA Grants for Water Quality, Climate Change Mitigation
Office of Senator Cortez Masto | Aug. 15 | Infrastructure Finance | Legislative | Tribal Finance | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities

New Legislation Aims to Expand Seattle, WA's EV Charging Infrastructure
Geek Wire | Aug. 15 | Energy Finance | Infrastructure Finance | Legislative | Public-Private Partnership (P3) Financing

U.S. EPA to Provide $4.5M for Water Infrastructure in Region 6 States
U.S. Environmental Protection Agency | Aug. 15 | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities

Convalt Energy Getting More Than $15M Through New York's Clean Energy Financing
WWNY | Aug. 14 | Energy Finance | Property Assessed Clean Energy (PACE)

Energy Department Announces Largest-Ever Investment in 'Carbon Removal'
Yahoo! Finance | Aug. 14 | Energy Finance | U.S. Dept. of Energy (DOE)

Greenbacker Partners with RBC Community Investments to Complete Solar PTC Deal
ABL Advisor | Aug. 14 | Community Development | Energy Finance | Tax Credits

ICL Breaks Ground on $400M Battery Materials Manufacturing Plant in St. Louis, MO
Business Wire | Aug. 14 | Energy Finance | Infrastructure Finance | U.S. Dept. of Energy (DOE)

Illinois Governor Vetoes Effort to Lift Moratorium on New Nuclear Reactors
Energy News Network | Aug. 14 | Energy Finance | Legislative | Tax Credits

Officials in Rural and Tribal New Mexico Communities Unaware of Federal Water Aid
Source NM | Aug. 14 | Federal | Rural Development | Tribal Finance | Water Finance

U.S. Treasury Announces $162.5M for Broadband in Ohio
U.S. Department of the Treasury | Aug. 14 | Access to Capital | Disaster Recovery & Relief | Infrastructure Finance | Legislative | U.S. Dept. of Treasury | Broadband | Legislative Activities

Logan Square in Chicago, IL Gets Fully Affordable Housing Project
The Real Deal | Aug. 11 | Community Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)

National Minority Supplier Development Council Receives Capital Readiness Program Award
Black Enterprise | Aug. 11 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI)

Port of Tacoma, WA Wins Phoenix Award for Cleanup and Redevelopment Project
American Journal of Transportation | Aug. 11 | Brownfield Financing | Community Development | Economic Development | Infrastructure Finance | Redevelopment

Wichita, KS City Council to Revisit Deal to Develop Land Around Riverfront Stadium
KWCH | Aug. 11 | Economic Development | Redevelopment | Tax Increment Finance (TIF)


National Sponsor Spotlight

Business Oregon Business Oregon
Business Oregon works to create, retain, expand, and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding, and support of economic opportunities for Oregon companies and...
Cirrus Secure Cirrus Secure
Cirrus provides a cloud-based document collection portal that helps specialty finance agencies streamline their loan and investment processes. Using robotic process automation, Cirrus orchestrates complex workflows to keep all parties engaged and...
CohnReznick CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax, and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...

CDFA Bookstore

Cover thumbnail Practitioner's Guide to Economic Development Finance 3rd Edition
The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities.

New Members

Columbus Region Green Fund - Columbus, OH

Lone Star PACE - Frisco, TX

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor