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Development Finance Review Weekly - January 12, 2023

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Development Finance Review Weekly
January 12, 2023
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CDFA Development Finance Review Weekly

Features

Take Advantage of the CDFA Community Facilities Technical Assistance Program
With support from the USDA, CDFA is offering free technical assistance to rural communities that experienced a natural disaster in 2018/2019 and are working to rebuild their community facilities. Selected communities will receive one on-site visit, a roadmap with financing recommendations and potential next steps, and ongoing support to pursue funding from the USDA Community Facilities Program. Space is limited; apply today!

Up to 5,000 New Student Housing Units to be Built in Public-Private Partnership
The University of Utah is embarking on an effort to transform its 170-year-old campus by doubling on-campus housing—adding 5,000 new student beds by 2030. To reach that goal, the university will launch a public-private partnership, also known as a P3, with a company that can design, finance, build and maintain the new student housing.

Announcing the 2023 CDFA Federal Policy Conference!
CDFA is pleased to announce the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. We will bring together key leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the federal development finance challenges that state and local governments continue to face. Space is limited; act fast. Please join us!

Louisiana State Bond Commission Got Approval of Financing for Origin 2
Origin Materials, Inc., the world's leading carbon-negative materials company announced that the Louisiana State Bond Commission has unanimously passed a resolution granting its final approval of the issuance of up to $1.5 billion of tax-exempt bonds for the financing for the construction of Origin 2, the Company's first world-scale manufacturing facility, to be located in Geismar, Louisiana.

Join Us for the First SSBCI Learning Series Event of 2023
CDFA is excited to kick off the 2023 SSBCI Learning Series with - Compliance: Program Reporting Requirements. Join us on February 16 from 2:00 PM - 4:00 PM Eastern, where expert speakers will share strategies for maintaining program compliance and the systems, template documents, and additional resources. Speakers will discuss the merit of collecting additional data and how to use that information to create greater transparency around targeted program outcomes.

Solar Energy Loan Fund Surpasses $30M of Residential Loans
The Solar Energy Loan Fund (SELF), a 501(c)(3) non-profit organization providing unsecured financing solutions to Florida and Southeast U.S. residents adding solar and home improvements, recently surpassed $30 million of cumulative loans. SELF has issued more than 3,000 green home loans, which average about $10,000 per loan but can range up to $50,000, for rooftop solar, high-efficiency air conditioners, roofing repairs, and other residential sustainable improvements.

The Future of Homebuilding May Soon Be Here in Santa Barbara, CA
After 46 years of developing affordable housing, Jennifer McGovern is ready to take the plunge into 3D-printing affordable housing. McGovern leads the Housing Trust Fund of Santa Barbara County, which in the past 20 years has helped build 373 affordable homes through $9.1 million in financing and also put 84 people in Santa Barbara County's workforce into a new home — both through its loan programs.

Lake Zurich, IL Establishes New TIF District to Spur Investment in 409-Acre Industrial Park
Lake Zurich hopes to use a newly approved tax increment financing district to spur investment in the town's 409-acre industrial park. Typically lasting 23 years, Village officials said the objectives of the new TIF district include reducing blighted conditions, enhancing the village's tax base, and encouraging private investment within the industrial park.

New Jersey Announces $255M in SSBCI Funds for Small Businesses
The New Jersey Economic Development Authority (NJEDA) will receive more than $255M in funding via the federal State Small Business Credit Initiative (SSBCI). Upon approval from the Department of Treasury, the NJEDA will utilize this funding to create six distinct programs which will provide financial and technical assistance to small and micro-businesses throughout the region.

Two Iowa Projects Receive $1M in USDA Funding to Boost Meat Supply
Two western Iowa operations will receive about $1 million in financing from the U.S. Department of Agriculture (USDA) to expand local meat production. Jordan's Meat Market, a startup, will receive an $800,000 loan guarantee to cover construction and provide working capital for the northwest Iowa project. Waubonsie Ridge Beef, a family-owned cattle operation, will receive a $210,000 grant to support expanded beef processing and marketing.

Upcoming Events
Fundamentals of Economic Development Finance Course
Upcoming Webcasts

CDFA // BNY Mellon Development Finance Webcast Series: Forecasting the Bond Market
Tuesday, January 17, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will discuss bond market trends to help investors and communities make informed decisions in the year to come.

SSBCI Learning Series - Compliance: Program Reporting Requirements
February 16, 2023 - 2:00 PM - 4:00 PM Eastern
During the 2023 SSBCI Learning Series, CDFA will elevate conversations and host sessions geared toward successfully implementing new SSBCI programs and financial products, reaching targeted small businesses and business sectors, and effective program reporting and compliance strategies.

CDFA Food Systems Finance Webinar Series: Bonds & Food Systems
Tuesday, February 28, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we take a deeper look at a method of financing that has been building infrastructure, industry, and agriculture for over a century and explore its applications within the food system.

Job & RFP Postings

DHCD-Assistant Operations Manager
The Maryland Department of Housing and Community Development (DHCD) is seeking an Assistant Operations Manager. The Manager assists the management teams in implementing various program operations by taking a lead role in operational support and will assist the Program Managers with directing and coordinating the operational activities, including finance, compliance, budget, procurement, reporting, and contracts of Housing & Building Energy Programs, the suite of Special Loans Programs, Homeowner Assistance Fund and HOME Program. 

North Central Pennsylvania Regional Planning & Development Commission-RFP
The North Central Pennsylvania Regional Planning and Development Commission is currently soliciting Request for Proposals for an Electric Vehicle Charging Infrastructure Implementation Plan for North Central Pennsylvania. Proposals are due February 10, 2023

This Week's Headlines

MBDA Seeking Proposals for $93.5M Capital Readiness Program Funded by SSBCI
Minority Business Development Agency | Jan. 11 | Access to Capital | Disaster Recovery & Relief | Legislative | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Commerce (DOC) | Treasury State Small Business Credit Initiative (SSBCI) | State Small Business Credit Initiative (SSBCI)

Commerce Invests $2.5M to Accelerate Development of Six Rural Industrial Sites
Washington State Department of Commerce | Jan. 10 | Economic Development | Infrastructure Finance | Rural Development

$10.6M PACE Construction Loan for Multifamily Project in Suburban Chicago
REBusiness Online | Jan. 10 | Energy Finance | Property Assessed Clean Energy (PACE)

'Green Banks,' Poised for Billions in Climate Funds, Draw States' Attention
Pew | Jan. 9 | Access to Capital | Energy Finance | Federal | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

2023 Energy Predictions: Inflation Reduction Act Spurs Clean Energy Boom
Forbes | Jan. 9 | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Legislative Activities

Bipartisan Infrastructure Law Providing $7M for Smart Water Projects
Smart Energy International | Jan. 9 | Access to Capital | Federal | Green Finance | Infrastructure Finance | Legislative | Water Finance | Water Finance | Legislative Activities

Burlington Offers Property Assessed Clean Energy Program
Boston Real Estate Times | Jan. 9 | Energy Finance | Property Assessed Clean Energy (PACE)

Core of Nebraska's Oldest City, Bellevue, NE, Poised for Renewal
Nebraska Examiner | Jan. 9 | Economic Development | Redevelopment | Tax Increment Finance (TIF) | Urban Development

DANR Approves Over $103.5M for South Dakota Environmental Projects
DRGNews | Jan. 9 | Energy Finance | Water Finance

Go Solar Florida State Assists Homeowners With Solar Incentives & Savings
Newswires | Jan. 9 | Energy Finance | Property Assessed Clean Energy (PACE) | Tax Credits

Louisiana to Begin Distributing $113M in SSBCI Funds
Business Report | Jan. 9 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | COVID-19 | State Small Business Credit Initiative (SSBCI)

Major Program Improvements, Progress, and Investments to Benefit American Producers
USDA | Jan. 9 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | Social Finance | U.S. Dept. of Agriculture (USDA)

Mercer County, NJ to Provide $500K to Small Businesses Through Investment Program
Tap Into | Jan. 9 | Access to Capital | Disaster Recovery & Relief | Economic Development | Revolving Loan Funds (RLFs) | COVID-19

Peak Innovation Park Secures Financing for Second Phase of Development
Mile High | Jan. 9 | Bond Finance | Opportunity Zones | Tax Credits

Rhode Island to Receive $61.7M in SSBCI Funds
ABC 6 | Jan. 9 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | COVID-19 | State Small Business Credit Initiative (SSBCI)

USDA Invests $1M for Rural Economy and Equitable Access in Puerto Rico
USDA | Jan. 9 | Access to Capital | Federal | Rural Development | U.S. Dept. of Agriculture (USDA)

Crestline, OH Eyes Solar Project to Help Pay for New Wastewater Plant
Bucyrus Telegraph-Forum | Jan. 7 | Access to Capital | Energy Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance


National Sponsor Spotlight

Cirrus Secure Cirrus Secure
Cirrus provides a cloud-based document collection portal that helps specialty finance agencies streamline their loan and investment processes. Using robotic process automation, Cirrus orchestrates complex workflows to keep all parties engaged and...
Hawkins Delafield & Wood LLP Hawkins Delafield & Wood LLP
Hawkins Delafield & Wood LLP is the only national law firm in the United States whose practice is devoted primarily to public finance and public projects. Each of their specialty areas supports and complements our municipal transactions practice....
Ice Miller LLP Ice Miller LLP
Ice Miller is nationally recognized for its public-private partnerships (P3s), municipal bond and economic development experience. Ice Miller is a full service law firm dedicated to helping our clients stay ahead of a changing world. With over 340...

Partner Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail Advanced Tax Increment Finance Reference Guide 2nd Edition
The Advanced Tax Increment Finance Reference Guide builds upon CDFA's introductory offerings by exploring in-depth the complexities and transformative potential of tax increment financing.

New Members

City of Leavenworth - Leavenworth, KS

City of New Haven - New Haven, CT

Four Directions Development Corporation - Orono, ME

Urban League of West Michigan - Grand Rapids, MI

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.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor