CDFA Bond Finance Update - January 2, 2018
Tri-Cities Airport Awarded $4.1M Grant to Expand Aerospace Park
In November, the mayors of Kingsport, Johnson City and Bristol, Tennessee, and the counties of Sullivan and Washington signed the Aerospace Park intergovernmental financing agreement, giving Tri-Cities Airport the go-ahead to purchase $8.5 million in revenue bonds to fund the expansion.
Collaboration Brings Children's Mercy Research Tower to Fruition
BSA LifeStructures designed the tower, with lead architect Jackie Foy, and McCownGordon Construction LLC will be the general contractor. Children's Mercy received $125.6 million in fixed-revenue bonds, to be split between the research tower and an office building it previously constructed.
Muni Market Set for Slow January After Tax-Fueled Rush to Market
Bond sales last month broke the previous monthly issuance record set in December 1985, which was driven by Congress' overhaul of the tax code. The next month, municipal bond issuance was a paltry $1.69 billion, according to Bond Buyer data. Bond sales are unlikely to fall below that figure, though, as $722 million in bonds have already been sold this month as of Jan. 5 and $3.6 billion in sales are scheduled for the week of Jan. 8 alone, according to data compiled by Bloomberg.
Colorado Senate Republicans Will Introduce Road-Bonding Bill
Not content just to say that Colorado transportation funding is their top priority, state Senate Republicans will introduce a bill on the opening day of the legislative session Wednesday that seeks bonding voter approval for as much as a $3.5 billion bond sale.
High-Tech Waste-to-Energy Facility Set to Open in May
Craig Stuart-Paul, CEO of Maryland-based Fiberight LLC, announced this week that his company has secured $70 million for a municipal solid waste center off Coldbrook Road — $45 million through a tax-exempt bond with the Finance Authority of Maine and the remainder in private equity funds.
Lincoln County, NM Considers IRBs for Wind Projects
Lincoln County, NM commissioners are considering issuing industrial revenue bonds for one or more of the companies pursuing development of wind farms in northern areas of the county.
Tax Reform's Cost to Municipal Issuers
With the passage of the Tax Cuts and Jobs Act, issuers of tax-exempt debt no longer have the authority to advance refund bonds with tax exempt debt after December 31, 2017. The new law amends Section 149(d) of the U.S. tax code.
$38.2M WHEFA Bond Financing Supports West Bend, WI Senior Living Facility
Bond financing facilitated by WHEFA will be used to help Benevolent Corporation Cedar Community finance the costs associated with the construction, renovation, and equipping of certain healthcare and senior livings facilities in West Bend, Wisconsin.
Weekly market Outlook-January 11
Moody's | Jan. 12 |
Weekly Rate Update-January 8, 2018
KPM Financial | Jan. 8 |
Weekly Capital Markets Update
Wye River | Jan. 5 |
Intro Bond Finance WebCourse
February 21-22, 2018 - 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.
|News from |
The latest municipal finance headlines from The Bond Buyer.
House Group Calls for Expansion of Private Activity Bonds
The Problem Solvers Caucus, a bipartisan group of House lawmakers, released a report late Wednesday that recommends raising the state volume caps for all private activity bonds used to help finance infrastructure projects. The funding gap for maintaining and building this network may be as high as $2 trillion by 2025, they said.
Winter Storm Surge Boosts Call for $10B Boston Seawall
Freezing floodwaters that engulfed downtown Boston prompted Mayor Martin Walsh to call for resilience measures including a seawall along Boston Harbor. In September, the Massachusetts Bay Transportation Authority issued tax-exempt sustainability bonds as part of a $574 million competitive sale.
Wildfires Burn Through Property Taxes Securing California County Bonds
The property taxes securing 40 Sonoma County, Calif. bond issues face an estimated shortfall of $2.4 million because of the October California wildfires. That estimate was recently released by Erick Roeser, auditor-controller-treasurer-tax collector for Sonoma County.
Payment Pressures Drive Bond Exchange Offer for Iowa Fertilizer Project
The Iowa Fertilizer Co. LLC is seeking a tender exchange for up to $435 million of bonds from two maturities in its nearly $1.2 billion 2013 issue that funded construction of its nitrogen fertilizer production plant. The exchange would ease near-term payment pressures.
West Virginia. Parkways Authority Plans Bonds, with Toll Fees to be Determined
A first round of Parkways Authority bonds — $120 million to $125 million of the $500 million of total bonds authorized — will be ready to go to market in late April or early May, West Virginia Parkways General Manager Greg Barr said.
Watchdog Group Calls on NYC to Improve ED Practices
The sectors creating the most jobs in NY have relatively low wages and the city's poverty rate remains high, said the Citizens Budget Commission. That requires corrective measures, CBC said in a report on Mayor Bill de Blasio's first-term achievements in economic development.
Pullman Prepares for 2018
As Pullman toasts to a new year, city officials still have one major item to cross off their to-do list: securing passage of a pair of major bonds totaling more than $12 million.
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.
|Bond Finance Headlines|
Whiplashed Planners Fear GOP Swerve on Infrastructure
Roll Call | Jan. 11 |
Governor McAuliffe Announces 900 Jobs Created Towards Clean Energy
WTKR.com | Jan. 11 |
Work Begins on Third Saint John's Tower
Urban Milwaukee | Jan. 10 |
Beckley Common Council Abuzz with Building Plans
The Register-Herald | Jan. 10 |
State PAB Volume Caps Boosted 5.2%
The Bond Buyer | Jan. 9 |
This Year's Planned Wake School Bond Vote Will Come Later Than Expected
The News & Observer | Jan. 8 |
Cuyahoga County Officials Reallocate Bond Money to Preserve Tax-Exempt Status
Cuyahoga County Insider | Jan. 4 |
New Sewer System Causes Stir in Wimberley Over Fears it Digs Financial Hole
KXAN.com | Jan. 4 |
Cuyahoga County discovers $36 million in unspent bond funds
Cuyahoga County Insider | Jan. 3 |
PABs May Still Face Scrutiny
Tax Analysts | Jan. 2 |
$99.3M Aggie Expressway Expansion Phase II Under Way
Construction Equipment Guide | Jan. 2 |
These 4 major Butler County projects mean $86 million of investment
Journal News | Dec. 31 |
Muni Investors Take Refuge in the Known
Reuters | Dec. 29 |
Trinity Health Bond Sale Complete
Minot Daily News | Dec. 29 |
$18.7M WHEFA Financing Assists Dodgeville, WI Health Center
WHEFA | Dec. 28 |
Financing for Food Hall and Food Court Among $400M in Bonds in Atlanta, GA
Bisnow | Dec. 28 |
Commissioners Consider Industrial Revenue Bonds for Wind Projects
Ruidoso News | Dec. 28 |
US Tax Changes Mean Good and Bad News for the Energy Efficiency Sector
Decentralized Energy | Dec. 27 |
Osawatomie Plans for New Electric Shop
The Miami County Republic | Dec. 27 |
Florida Train Project Gets $1.15B Private Activity Bond Allocation
The Bond Buyer | Dec. 27 |
|Highlights from the Online Resource Database|
2017 Ohio State Infrastructure Bank Annual Report
Bond Finance | Infrastructure Finance
The 2017 State Infrastructure Bank Annual Financial Report summarizes the SIBs active projects throughout the state of Ohio. Projects include road resurfacing, bridge replacements, retaining walls, parking infrastructure and more.
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