The next installment of the CDFA // BNY Mellon Development Finance Webcast Series will explore factors that contributed to the challenges in high-profile bond deals. Join us online on Tuesday, April 16 from 2:00 PM - 3:00 PM to learn the best practices for development finance practitioners to set the stage for successful bond finance in their communities. Register today!

The City of Memphis will get a $10 million loan from the Biden-Harris Administration to support critical stormwater infrastructure updates to improve Memphis' resiliency to storms. In addition to the loan, the U.S. Environmental Protection Agency (EPA) is committing $50 million in total assistance to the city to implement other aspects of its Stormwater Upgrades Project, creating about 70 jobs. 

American Lending Center has announced participation in construction of two rural hospitals as part of its ongoing efforts to improve rural healthcare. The hospitals are located in Bessemer, Alabama and Grant County, Washington. Magnolia Bank, headquartered in Kentucky, was the issuing partner in both construction loans, and the U.S. Department of Agriculture Rural Development loan guarantee program was used in both cases. To qualify for that program, projects must help rural communities and create jobs.

S&P Global Ratings (S&P) recently announced an upgrade to the Toledo-Lucas County Port Authority's Northwest Ohio Bond Fund rating from an "A-" to an "A" investment-grade rating with a stable outlook. The Port Authority's Northwest Ohio Bond Fund was established in 1988 and has allowed the Port Authority to help finance new business and business expansion throughout the state. To date, the Northwest Ohio Bond Fund has provided over $435 million in bond financing for 98 projects, including local and regional companies, such as Owens Corning, The Andersons, Continental Real Estate Companies, Dana Holding Corporation, Nagle Companies, and Toledo School for the Arts.

The U.S. Department of Commerce and National Oceanic and Atmospheric Administration (NOAA) announced $754,953 in funding from the Bipartisan Infrastructure Law (BIL) to support federally recognized Indian tribes' participation with regional ocean partnerships. These funds will support activities of three federally recognized Indian tribes on the East and West Coasts to manage ocean and coastal resources and data, and build resilience for future challenges.

The 34-year-old EB-5 grants U.S. permanent-resident status to wealthy foreigners who put money into business ventures that create American jobs. And while previous investors beelined towards glitzy urban real-estate projects, the new rules, approved in 2022, hope to steer investment into rural areas where the money's needed most. Two thousand EB-5 visas are now set aside each year for investors who sink $800,000 into U.S. rural locations. That creates a fast lane to American residency for them and their family.

The U.S. Department of Energy (DOE) through its Loan Programs Office (LPO) announced the offer of a conditional commitment of up to $1.5 billion for a loan guarantee to Holtec Palisades to finance the restoration and resumption of service of an electric nuclear generating station in Covert Township, MI. The project aims to bring back online the Palisades Nuclear Plant, which ceased operations in May 2022, and upgrade it to produce baseload clean power until at least 2051.

Food waste is an up-and-coming sector, and a single deal can swing the whole year, which was the case for 2022 – yet less of a factor in 2023. Venture capital (VC) has made up a majority of trackable private capital for food waste except for last year, when private equity was the major factor. For that reason, food waste growth rates have been directionally following U.S. VC growth rates. 

The Job Review Specialist is responsible for the review and approval of energy audits and studies, energy conservation scope of work, construction specifications, cost review, work progression, and payment requests. The Job Review Specialist may be responsible for guiding a project through the stages of the funding process, including initial application, funding request evaluation, selection of a scope of work, construction, and closeout of the project. The energy retrofit work may be part of a more comprehensive substantial or moderate rehabilitation effort funded with additional State funds, or be a stand-alone energy retrofit project. Certain new construction projects are eligible for funding. Typical project size will be 1 to 5 units and may involve townhouse, low-rise, mid-rise, or high-rise construction.

The Program Associate is responsible for answering customer calls and resolving their concerns, reviewing and approving applications for Special Loans Housing Rehabilitation services. This position is responsible for ensuring client applications and requests are completed in a timely manner. With a good understanding of the State Department of Finance processes, this position will set up vendors, make requests for encumbrances, and process requests for payments. To ensure proper record keeping, this position will complete the task of the scanning and retention of loan packages.

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On March 29, 2024, the U.S. Department of the Treasury published its second State Small Business Credit Initiative (SSBCI) quarterly report, covering the period of October 1, 2023 through December 31, 2023.

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