Morgan Stanley will run the books on several deals that are part of about $360 million in local government borrowing planned for the $10 billion Foxconn manufacturing plant in SE Wisconsin.The local borrowing is part of $764 million in local incentives struck under a development agreement with Foxconn.

In this article from the Capital Journal, the nuances of TIF and its many uses are analyzed by comparing two Fort Pierre TIF districts. TIF District 5, is just two years old and is just beginning to generate revenue while TIF District 2 was established almost 10 years ago, but was dissolved by the City Council last year.

The additional tax credits were made available through the recently approved federal Consolidated Appropriations Act, 2018. The bill increases each state's LIHTC allocation by 12.5% for 2018 through 2021. In Wisconsin, that equates to approximately $1.8 million in additional LIHTC for 2018.

Reinvestment Fund financed the construction of the Shoppes at Wissinoming, an 110,000 square foot new grocery store-anchored shopping center in northeast Philadelphia. Reinvestment Fund financing is part of a leverage loan for a $14.5 million New Markets Tax Credit transaction. 

The U.S. Economic Development Administration is making $587 million available to eligible grantees in communities where a Presidential declaration of a major disaster was issued under the Stafford Act as a result of Hurricanes Harvey, Irma and Maria, wildfires and other natural disasters in 2017.

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have designated Opportunity Zones in 18 states and territories. The 18 states and territories receiving designations are only a part of the first group, and additional state designations will be named in the coming weeks.

The CDFA Food Systems Finance Resource Center outlines development finance tools that can be used to support local food systems, such as bonds, tax increment finance, tax credits, special assessment districts, revolving loan funds and others.

The revolving loan fund will provide financing for energy efficiency improvements to multifamily, low-income housing, and to give ongoing credits to low-income residents' electricity bills and backup power and cost savings for public buildings.

The $1.5 billion North Portal Bridge only needs final approval to receive financing. However, the 50% local financing plan includes a $284 million federal TIFIA loan that DOT doesn't consider as a local commitment. Loan payments made in the past under the TIFIA were considered part of a local commitment.

The Port Authority of New York and New Jersey's planned $10 billion redevelopment of John F. Kennedy International Airport is beginning to take shape in the form of another large-scale public-private partnership.

The Council of Development Finance Agencies seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Marketing & Communications.

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