Representative Randy Hultgren (R-IL), Chair of the Municipal Finance Caucus and longtime friend of CDFA, is asking his Republican colleagues to sign a letter urging Republican leadership to protect private activity bonds and advance refundings. CDFA asks that you help Rep. Hultgren by contacting your Republican senators or representative, and encourage them to sign the letter. A simple phone call or email to their Washington office is sufficient. 

Republicans in the Senate face some hurdles in getting their tax bill passed, such as Sen. Susan Collins' preference for keeping the federal deduction for state and local taxes.

The 36-acre Judson Mill District will be converted to a mixed-use district with apartments, office space, and retail space. The project will be utilizing historic and new market tax credits, along with the Bailey Bill incentive, which locks in the property's pre-rehabilitation tax assessment value for 20 years.

Connecticut will spend $13.6 million to assess or redevelop brownfield sites in 14 municipalities. The newest round of funding will pay to remediate and revitalize 89 acres of blighted properties. The state has invested more than $220 million in brownfield redevelopment since 2012.

Six metro areas around the U.S. will share $90 million in grants and financing capital to fund investments in infrastructure and climate-resilience projects benefiting low-income communities as part of SPARCC, a three-year initiative intended to amplify locally driven efforts to make communities more equitable.

The city will establish a new tax increment financing district at each site, as well as a Community Reinvestment Area with a 15-year, 100 percent real property tax abatement. It will also offer an Enterprise Zone Agreement for a 10-year, 75 percent property tax abatement related to the office space built at each project.

George Friedlander of Court Street Group outlines the state of the tax reform debate, as well the projected impact of tax legislation on municipal finance.

The ability of airports to finance improvements would be undone by the elimination of private activity bonds. CDFA President & CEO Toby Rittner is quoted in the piece.

The House GOP tax reform bill would repeal the tax-exempt status for qualified PABs, which could lead up to a 50 percent reduction in such projects and could lead to the loss of tens of thousands of low-income housing units. Tim Fisher of CDFA is quoted in the piece.

A healthy majority of Denver voters elected to approve $937 million in bond sales to support infrastructure projects across the city, with nearly half of the investment dedicated to transportation and mobility.

The California Debt Limit Allocation Committee is holding emergency meetings in the hope of allocating $900 million in remaining private activity bond capacity for affordable housing by the end of the year.

The elimination of private activity bonds could jeopardize Kansas City, Missouri's proposed $1 billion public-private partnership to overhaul the city's airport terminals.

The Steelworks Center of the West is planning the rehabilitation of the former Colorado Fuel and Iron Company office building. The space will serve as an expanded museum for exhibitions memorializing the history of the coal and steel industries in the West. In the latest Roadmap to Redevelopment report, CDFA provides financing recommendations for the project.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, our expert speakers will discuss the basics of crowdfunding, provide legislative updates, and even provide examples of successful programs from around the nation.

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