Development Finance Review Weekly - January 16, 2020
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Learn the Fundamentals of Economic Development Finance on CDFA's WebCourse
Register today for the Fundamentals of Economic Development Finance WebCourse, the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.
The Obscure Reason Banks will Finally Embrace Opportunity Zones
The federal government plans to give commercial banks credit for issuing loans in low-income communities as part of a larger reform to a 1970s-era Community Reinvestment Act. This is the first direct regulatory incentive for banks to lend in Opportunity Zones and could be a game-changer for the program, according to some experts.
San Diego, CA City Council Moves Forward on $900M Bond Measure for Affordable Housing
The San Diego City Council moved a step closer Tuesday to placing a $900 million bond measure on the November ballot in hopes of dramatically expanding affordable housing in the city to address homelessness.
Huntington, WV Uses TIF for an Intergovernmental Payment
Members of Huntington City Council unanimously approved an intergovernmental agreement that will see the city of Huntington loan about $1.8 million to the Huntington Municipal Development Authority for a hillside slip repair at Kinetic Park. All revenue generated from the tax increment financing (TIF) district surrounding Kinetic Park will go toward repaying the city.
Columbus, OH Housing Authority Plans a Year of Big Acquisitions
The Columbus Dispatch reported recently that the Authority plans to spend close to $250 million this year on acquisition and renovation of new units. In May 2019, voters approved a $50 million housing bond to support affordable housing work, and in June, the city announced an additional $100 million public/private Housing Action Fund.
Feds Propose Overhaul of Environmental Reviews for Controversial Projects
The Trump Administration is proposing significant revisions to the implementing regulations of the National Environmental Policy Act of 1969 (NEPA). NEPA requires federal agencies to provide a documented evaluation, with public input, of the environmental impacts of a proposed project that involves federal approval or funding, such as grants, contracts, loans, or permits.
CA Climate Budget to Include $1B Green Loan Fund
Contending that California needs to better encourage small players with ideas to address the climate crisis, Gov. Gavin Newsom included a $1 billion revolving loan program in his new budget to seed recycling, low-carbon transportation, and climate-smart agriculture projects.
Bill Introduced to Improve Economic Prosperity of Native Communities
US Sen. Brian Schatz and Sen. Mazie Hirono of Hawai'i joined fellow senators from Alaska, Sen. Lisa Murkowski and Sen. Dan Sullivan in introducing legislation aimed at improving the economic prosperity of Native communities. The "Inspiring Nationally Vibrant Economies Sustaining Tribes or INVEST Act seeks to improve the existing New Markets Tax Credit program to more effectively reach Native communities.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
County in FL will Terminate Federal Lawsuit against Virgin Trains USA
After a nearly five-year run through the federal courts, a Florida county has decided to end its lawsuit challenging the U.S. Department of Transportation's award of private activity bonds to Virgin Trains USA, the country's only privately owned passenger rail system.
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.
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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market in 2020
Tuesday, January 21, 2020 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast, hear from our experts as they dive into the data, examine the trends, and offer a preview of the bond market in 2020.
CDFA-TEDC Webinar: The Who, What, When, Where and Why of Affordable Housing in Texas
February 12, 2020 - 10:00 AM -11:30 AM Central
Cities, suburbs, and rural areas across the country all have complex challenges and opportunities when it comes to housing, and Texas is no exception. Issues of affordability in housing are often connected to social equity and economic development strategies; however, communities have numerous tools available to support the development of affordable, market rate, mixed-income, and mixed-use housing. This webinar will explore some of the tools that can be utilized to support a myriad of housing challenges and opportunities as well as how development finance agencies can become key partners in housing development in their community.
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Job & RFP Postings |
City of Beaverton, OR Seeking Assistant Community Development Director
The Assistant Community Development Director is a new position for the department and will function with a high degree of independence. It is a senior management-level position providing administrative direction and leadership to the Community Development Department. Under guidance of the Community Development Director, the Assistant Community Development Director will be charged with direct oversight of the department's administrative and organizational management activities as well as strategic programs and special projects.
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This Week's Headlines |
City, Community Group Differ on Redevelopment Plan for Pillsbury Mills Site in Springfield, IL
The State Journal-Register | Jan. 16 | Brownfield Financing | Community Development
USDA's FSA Encourages Producers to Enroll Soon in Agriculture Risk Loss and Price Loss Coverage Programs
U.S. Department of Agriculture Farm Service Agency | Jan. 16 | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)
Qualified Opportunity Zones: Your 180-Day Clock Isn't What You Think It Is
Forbes | Jan. 16 | Opportunity Zones
Northrop Grumman Plans Major Expansion in Weber County, Utah
Area Development | Jan. 15 | Tax Credits | Tax Increment Finance (TIF)
Low Bond Yields Are Killing Muni Tax Breaks
Barron's | Jan. 15 | Bond Finance
Sheboygan, WI Plans To Break Ground in Innovation District
TMJ4 | Jan. 14 | Tax Increment Finance (TIF)
TIF To Assist Multi-Phase Project In Dayton, OH
Dayton Biz Journals | Jan. 14 | Community Development | Economic Development | Tax Increment Finance (TIF)
Procter & Gamble Expands Box Elder County, UT Operations
Area Development | Jan. 14 | Tax Credits | Tax Increment Finance (TIF)
Small Business Loans for Minorities
Latin Post | Jan. 14 | Access to Capital | Food Systems Finance | Tribal Finance | U.S. Small Business Administration (SBA)
SC JEDA Issues $3.65M in Refinancing Bonds for Alcohol and Drug Abuse Council
SC JEDA | Jan. 14 | Bond Finance | Member News | Social Finance
Opportunity Appalachia Opens Application Process for Technical Assistance Funding
West Virginia's News | Jan. 13 | Opportunity Zones
IA Has Innovative Approach with RLF for Nutrient Loading
Water & Waste Digest | Jan. 13 | Revolving Loan Funds (RLFs) | Water Finance
Chicago, IL Developers are Giving Opportunity Zones A Try
WBEZ | Jan. 11 | Opportunity Zones
CA Governor Still Pushing Opportunity Zone Tax Breaks
Bloomberg Tax | Jan. 10 | Opportunity Zones | State Finance Program
How PACE Offers Businesses and Homeowners Flexibility in FL
Florida Politics | Jan. 10 | Energy Finance | Property Assessed Clean Energy (PACE)
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National Sponsor Spotlight |
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McCarter & English, LLP
McCarter & English, LLP is a firm of approximately 400 lawyers with offices in Boston, Hartford, Stamford, New York, Newark, East Brunswick, Philadelphia, Wilmington and Washington, DC. In continuous business for more than 170 years, they are among...
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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.
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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,...
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Partner Spotlight |
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informANALYTICS by Center for Governmental Research
The Center for Governmental Research (CGR) is a nonprofit organized under section 501(c)(3) of the Internal Revenue Code. CGR brings expertise to issues spanning economics and public finance, government management, health and human services and...
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CDFA Bookstore |
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New Members |
City of Dayton - Dayton, OH
Solar and Energy Loan Fund - Fort Pierce, FL
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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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