An IRS public hearing on proposed regulations for Opportunity Zones, which had been scheduled for Jan. 10, has been indefinitely postponed by the agency because of the ongoing federal government shutdown. The hearing will be rescheduled once the government reopens.

Part of the loan fund's early start-up capital comes from the Grand Rapids Community Foundation, which provided a $100,000 grant as well as a $200,000 low-interest loan to help get the fund going. While currently focused on Michigan, Rende Progress Capital plans on expanding its operations to the District of Columbia and Virginia.

The Department of the Treasury's IRS released new Proposed Regulations regarding Bond Reissuance. The Proposed Regulations address the subject of "reissuance" in connection with issues of tax-exempt obligations. The Proposed Regulations generally follow the guidance set forth in IRS Notice 2008-41, 2008-1 CB 742.

Despite spending $2.5 trillion a year on roads, railways, ports, water, and other public infrastructure projects, countries around the world are still falling far short of what they need to invest. Yet, some P3 initiatives have been highly successful, and they provide a trove of valuable lessons for managing any large project that involves multiple organizations.

Arlington has proposed to provide an annual pay-for-performance grant to Amazon to be funded through the Transit Occupancy Tax (TOT). The TOT is a tax on hotel rooms or other paid lodging. The money for the grant will come from 15% of the incremental TOT revenue generated for 15 years, using 2019 as the baseline.

The Department of the Treasury and the Internal Revenue Service released final regulations relating to public approval requirements for tax exempt private activity bonds. The Final Regulations update and streamline implementation of the public approval requirement for tax exempt private activity bonds. 

The small oil companies and banks holding more than $800M in refundable tax credits scored a victory Wednesday when an AK Superior Court judge threw out a lawsuit challenging the state's plan to sell bonds to pay off those credits.

Maryland Governor Larry Hogan has proposed a $56.5 million set-aside for economic development and business creating in Maryland Opportunity Zones. Hogan's plan involves offering businesses additional state tax credits, job training programs, small business loans and affordable housing incentives, in some cases through proposed legislation.

Portfolio managers are feeling the heat when it comes to investing in bonds that could potentially be affected by climate change. Climate change has long been a point of political and social contention, and investors are throwing caution to the wind when making important bond transactions, while using a green thumb to do their part.

Build America Bond issuers are receiving their interest subsidy payments during the partial government shutdown while Congress remains divided on how to resolve the deadlock. Federal subsidy payments made to issuers of BABs and other direct-pay bonds have been cut by 6.2% in fiscal 2019 under sequestration.

During this installment of the CDFA // BNY Mellon Webcast Series, expert speakers will highlight various successful P3 state statutes across the U.S. and generally what they allow for. 

The Economic Development Specialist will coordinate the preparation of TIF District establishment or modification and assist with general economic development services. Creates and maintain necessary legal and financial documents including TIF plans to finance municipal projects.

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