Development Finance Review Weekly - June 10, 2021
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Spotlight |
Take Action -- Tell Congress to Include Bond Provisions in the Infrastructure Bill
CDFA is mobilizing a nationwide coalition to submit a letter to Congress asking that bond financing provisions be included in the infrastructure bill. We invite you to sign our coalition letter to show your organization's support for including several key tax-exempt bond provisions.
CDFA to Host Free Legislative Briefing on Wednesday, June 16
Join us on Wednesday, June 16 at 4:00 PM (Eastern) for a free Legislative Briefing. We will discuss the status of the infrastructure bill and CDFA's latest efforts on Capitol Hill. We will also outline important action items that you can take to ensure that bond financing provisions are included in the infrastructure bill.
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Features |
CDFA SSBCI Coalition Submits Comments to Notice and Request for Information on SSBCI
The Council of Development Finance Agencies and its SSBCI Coalition provided comments in response to the U.S. Department of the Treasury's Notice and Request for Information — State Small Business Credit Initiative (RFI). Detailed responses to questions posed in the RFI reflect the following broad principles, which CDFA and the SSBCI Coalition believe are key to ensuring the effective implementation of the current round of SSBCI funding.
Coronavirus State and Local Fiscal Recovery Funds: Five Things Governments Need to Know
The U.S. Department of the Treasury published its interim final rule to implement the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Recovery Fund. The American Rescue Plan Act created the $350 billion recovery funds. To support governments in using money distributed from the recovery funds, the interim rule provides critical guidance regarding eligible uses of funds.
Incentive Evaluations Lead to Statutory Changes
Oklahoma has been assessing the state's business incentive programs on a regular schedule since 2016. State legislators and officials from state agencies have taken the lead to use findings and recommendations from the Incentive Evaluation Commission to make changes that contain costs and improve outcomes for Oklahoma. As a result of their efforts, more than a dozen statutory changes have passed to improve incentive program performance.
USDA to Invest an Additional $4B to Strengthen Food System
Citing lessons learned from the COVID-19 pandemic and recent supply chain disruptions, the USDA announced plans to invest more than $4 billion to strengthen critical supply chains through the Build Back Better initiative. The new effort is directed by Executive Order 14017 America's Supply Chains will create new market opportunities, tackle the climate crisis, help communities that have been left behind, and support good-paying jobs throughout the supply chain.
Entrepreneur-Led Economic Development: A New Strategy for Generating Local Growth and Productivity
This report outlines a comprehensive approach, which is called "entrepreneur-led economic development". The goal is to create feedback loops between entrepreneurial leaders and other local decision-makers and to cultivate networks that connect successful entrepreneurial leaders with future growth-oriented founders who can use their guidance to grow.
Inside the President's Budget Request: Spatial Inequality and Economic Dynamism
On Friday, the Biden Administration released its FY22 budget request, detailing the White House's federal spending priorities, and totaling roughly $6 trillion for FY 2022. The budget is unprecedented in its size and scope, as it would lead to sustained spending levels not seen since World War II. It also contains several key provisions aimed at addressing spatial inequality and economic dynamism.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Walorski Co-Chairs the Municipal Finance Caucus
Tax-exempt bond advocate Rep. Jackie Walorski of Indiana is the new Republican co-chair of the congressional Public Finance Caucus. Walorski, a former member of the Indiana Legislature, is a co-sponsor of two bills in the current Congress to expand the use of private activity bonds in financing public buildings and affordable housing.
Detroit Airport Readies New-Money Sale Riding Tailwinds of Improved Outlook
The Wayne County Airport Authority heads into the market for a new-money sale due to a more stable fiscal picture. The authority will borrow $163 million of senior lien airport revenue bonds to finance projects approved by airlines at the Detroit Metropolitan Wayne County Airport.
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.
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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: Rural Broadband & Telehealth Financing
Tuesday, June 15, 2021 - 2:00 PM - 3:00 PM Eastern
During this webinar, experts will explain how rural communities can embrace the challenges of financing high-speed internet for the economic and societal gains provided by broadband.
CDFA Legislative Briefing - June 16, 2021
June 16, 2021 - 4:00 - 4:30 PM Eastern
Join us on Wednesday, June 16 at 4:00pm (Eastern) for a free Legislative Briefing. We will discuss the status of the infrastructure bill and CDFA's latest efforts on Capitol Hill. We will also outline important action items that you can take to ensure that bond financing provisions are included in the infrastructure bill.
CDFA Food Systems Finance Webinar Series: Financing Food Systems Through FinTech
Tuesday, July 13, 2021 - 2:00 PM - 3:30 PM Eastern
In this installment of the CDFA Food Systems Finance Webinar Series, we will explore how tech innovations are increasing access to financing for food-related businesses and projects, and how finance is supporting the integration of new technology in local food systems.
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Job & RFP Postings |
City of Tulsa, OK Hiring Senior Vice President of Community Development
The Senior Vice President of Community Development serves as a member of the senior leadership team for the Tulsa Authority for Economic Opportunity, leading a team of staff dedicated to increasing shared prosperity and racial equity in Tulsa.
City of Tulsa, OK Seeking Senior Vice President of Development Finance and Strategic Investments
The Senior Vice President of Development Finance and Strategic Investments serves as a member of the senior leadership team for the Tulsa Authority for Economic Opportunity, leading a team of staff focused on managing public finance and incentive tools and programs; analyzing, developing, and supporting development and redevelopment projects; and managing and optimizing the Authority's financial and real estate assets.
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This Week's Headlines |
Preparing Opportunity Zone Investors for Higher Capital Gains
Financial Advisor Magazine | Jun. 9 | Access to Capital | Economic Development | Federal | Legislative | Opportunity Zones | Urban Development
U.S. Department of Commerce Invests $1.2M in CARES Act Recovery Assistance in Athens, OH
U.S. Economic Development Administration | Jun. 9 | Disaster Recovery & Relief | Economic Development | Federal | Infrastructure Finance | Innovation Finance | U.S. Economic Development Administration (EDA) | COVID-19
Washington Wants to Bring Back Build America Bonds. The Municipal Market Isn't Buying It
Market Watch | Jun. 9 | Access to Capital | Bond Finance | Economic Development | Infrastructure Finance | Legislative
Yankees Parking Garage Bonds Jump After Restructuring Deal
Bloomberg Law | Jun. 9 | Bond Finance | Economic Development | Urban Development
Biden-Harris Administration Announces New Actions to Build Black Wealth and Narrow the Racial Wealth Gap
The White House | Jun. 7 | Access to Capital | Community Development | Federal | Housing Finance | Social Finance
SBA Recognizes the Office of Surety Guarantees FY20 Award Winners
Global News Wire | Jun. 7 | Access to Capital | Bond Finance | Federal | U.S. Small Business Administration (SBA)
Whole Foods Co-Op Moving Forward With Plans for New Market at Eric, PA Downtown Property
Go Erie | Jun. 7 | Food Systems Finance | Local Finance Program
Michigan Seeks to Expand Access to Key Housing Tax Credit
MiBiz | Jun. 6 | Housing Finance | Resiliency | Rural Development | State Finance Program | Tax Credits
Redefining 'Rural' in America
Katy Times | Jun. 5 | Economic Development | Federal | Rural Development
Gov. Wolf Announces New Funding for Minority-Owned Businesses in Erie, PA
Governor Tom Wolf | Jun. 4 | Access to Capital | Local Finance Program | Revolving Loan Funds (RLFs) | Social Finance | Revolving Loan Funds (RLFs)
USDA Seeks Applicants to Improve Water and Wastewater Infrastructure in Rural Areas
Water World | Jun. 4 | Access to Capital | Federal | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | U.S. Dept. of Agriculture (USDA)
USDA to Invest $1B to Purchase Healthy Food & Build Food Bank Capacity
USDA | Jun. 4 | Agriculture Finance | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19
Wyoming Smart Capital Network Helping Local Businesses with $5.1M from EDA
Wyoming News Now | Jun. 4 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs) | State Finance Program | Revolving Loan Funds (RLFs) | COVID-19
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New Additions to the Online Resource Database |
"Housing Is Health Care": The Impact of Supportive Housing on the Costs of Chronic Mental Illness
Access to Capital | Community Development | Healthcare | Housing Finance | Infrastructure Finance | Social Finance
This study examines how housing and in-home supports affect public spending on individuals with chronic mental illness in Maricopa County, Arizona. It does so through a comparative analysis of average costs per person per year across three housing settings: permanent supportive housing, housing with unknown in-home support, and chronic homelessness.
CDFA's Public Comments on the Treasury Department's Notice and Request for Information on SSBCI
Access to Capital | CDFA Original Research | Economic Development | State Small Business Credit Initiative (SSBCI)
The Council of Development Finance Agencies and its SSBCI Coalition provided comments in response to the U.S. Department of the Treasury's Notice and Request for Information — State Small Business Credit Initiative (RFI) on June 1, 2021. Detailed responses to questions posed in the RFI reflect the following broad principles, which CDFA and the SSBCI Coalition believe are key to ensuring the effective implementation of the current round of SSBCI funding.
Impact in Place: Emerging Sources of Community Investment Capital and Strategies to Direct It at Scale
Access to Capital | Community Development | Economic Development | Opportunity Zones | Revolving Loan Funds (RLFs) | Rural Development | Tax Increment Finance (TIF)
Recognizing the urgency of the pandemic and related crises, on June 7, 2021, the Federal Reserve Bank of New York approached the U.S. Impact Investing Alliance to write a report about the current landscape of capital sources for community investment and how emerging capital sources and strategies could help shape the future of the field.
USDA Expands Access to Capital for Very Small Rural Businesses
Access to Capital | Innovation Finance | Revolving Loan Funds (RLFs) | Rural Development
The USDA Rural Development published a final rule outlining changes to the Rural Microentrepreneur Assistance Program (RMAP) on June 7, 2021. The program provides loans and grants to microenterprise development organizations to help them establish revolving loan programs to assist microenterprises, businesses with 10 or fewer full-time employees.
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National Sponsor Spotlight |
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Baker Tilly
More than 2,800 talented and passionate individuals strong, Baker Tilly is a top 15* full-service accounting and advisory firm with specialized professionals who connect with you and your business through refreshing candor and clear industry...
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Stifel Nicolaus
Stifel Nicolaus, founded in 1890, is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments saving millions of dollars for our public and...
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U.S. Bank
U.S. Bancorp (USB), with $416 billion in assets, is the parent company of U.S. Bank, the fifth largest commercial bank with more than 65,000 employees, and 3,151 offices in the United States.
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Partner Spotlight |
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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 web site, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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CDFA Bookstore |
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Tax Increment Finance Best Practices Reference Guide 2nd Edition
The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.
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New Members |
AltCap - Kansas City, MO
Superior California Economic Development - Redding, CA
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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