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CDFA Energy Finance Update - June 4, 2024

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CDFA Energy Finance Newsletter
June 4, 2024
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Energy Finance Update

Features

It's Time to Register for the 2024 CDFA Summer School!
CDFA Summer School is a 2-week long virtual series of courses designed to help you accelerate your development finance education, with a curation of seven different training courses to choose from. Don't miss the opportunity to learn from our expert practitioners and experience CDFA's most interactive educational event of the year! Register today!

What Now for the Greenhouse Gas Reduction Fund Green Finance Programs?
Two Greenhouse Gas Reduction Fund (GGRF) programs—the National Clean Investment Fund (NCIF) and the Clean Communities Investment Accelerator (CCIA)—total $20 billion and will rely on eight nonprofit investment coalitions to create a national clean energy finance network that drives investment in projects that meet GGRF's program objectives. While the Environmental Protection Agency (EPA) is currently negotiating agreements, there are actions that advocates, community-based organizations and project developers, local and state government, and philanthropy can take now to maximize GGRF's impact in your community.

Join CDFA for Our Upcoming Intro Tax Increment Finance WebCourse
Register for CDFA's Intro Tax Increment Finance (TIF) WebCourse taking place on June 26-27. Join us to learn the guiding principles and appropriate application of TIF. Our panel of expert instructors will discuss TIF deal-making and best practices highlighted by projects from around the country.

U.S. Interior Invests $242M for Water Infrastructure in American West
The Department of the Interior announced a $242 million investment that will bring clean, reliable drinking water to communities across the West through five water storage and conveyance projects. The projects in California, Colorado, and Washington are expected to add at least 1.6 million acre-feet of additional water storage capacity, enough water to support 6.4 million people for a year. The funding will also invest in a feasibility study in Arizona designed to advance water storage capacity once completed.

Bayview Provides C-PACE Financing on Monterey Park, CA Multifamily
Bayview PACE provided $15.5 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Whitmore Villa, a $52 million multifamily development located in Monterey Park and developed by Chateau Group, on behalf of project sponsor GreenState Holdings, Inc. Located at 126 New Ave. in Monterey Park, Whitmore Villa will include 63 two-story units in two construction phases.

Peoria City Council, AZ Approves Grant for Advanced Metering Infrastructure
The Peoria City Council at a recent meeting unanimously approved the acceptance of a Water Conservation Grant Fund from the Water Infrastructure Finance Authority of Arizona for the implementation of an advanced metering infrastructure feasibility study and pilot program. The grant provides up to $3 million in funding to eligible entities for the purpose of conserving Arizona's water supply. The grant does require a 25% match from the city, which would be $750,000.

Petros Launches C-PACE Condo Offering
Petros PACE Finance has launched a lending platform designed to facilitate the development of condominium projects through Commercial Property Assessed Clean Energy (C-PACE) loans. The new offering from Petros enables condo developers to navigate pitfalls that previously prevented them from utilizing C-PACE financing due to the program's traditional focus on properties with single commercial tax liens not suitable for residential condo units.

Ohio Seeks $189M in EPA Funds for State's First Climate Action Plan
Ohio Gov. Mike DeWine's administration is seeking $189 million in federal Inflation Reduction Act funding to help implement the state's first climate action plan. The proposal, submitted to the U.S. Environmental Protection Agency (EPA), would establish a statewide fund to help electrify government fleets, retrofit public buildings, and install solar generation on city, county, and state properties.

Upcoming Events
CDFA Summer School

CDFA-Bricker Graydon Webinar Series: Catalyzing Transformative Redevelopment with TIF
June 11, 2024 - 2:00 PM - 4:00 PM Eastern
Speakers on this event will present the basics of how these tools work and provide case studies highlighting how PACE and special assessment financing can be paired to create more environmentally sustainable projects.

CDFA // BNY Mellon Development Finance Webcast Series: Impacts of Inflation on Bond Yields, Arbitrage, and Rates
June 18, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will walk through the impact of rate hikes on yield and arbitrage and share best practices for managing these impacts.

Energy Finance News

Joint Program Offers Economic Support for Underserved Communities
Forbes | May. 30 | Access to Capital | Energy Finance | Green Finance | Legislative | Tax Credits | U.S. Dept. of Energy (DOE) | U.S. Dept. of Treasury

U.S. Releases New Rule to Incentivise Clean Energy Production Under IRA
Saur Energy International | May. 30 | Energy Finance | Tax Credits | U.S. Dept. of Treasury

New Jeresy EDA to Release C-PACE Guidelines for Public Comment
NJEDA | May. 30 | Energy Finance | Property Assessed Clean Energy (PACE)

U.S. Interior Invests $179M for Innovative Water Reuse and Resilience
Clean Technica | May. 29 | Infrastructure Finance | Legislative | Resiliency | Water Finance

USDA Rural Development Highlights Pennsylvania Energy Efficiency Improvement Projects
U.S. Department of Agriculture | May. 28 | Community Development | Energy Finance | Rural Development

What Now for U.S. EPA's $7B Solar for All Program?
Natural Resources Defense Council | May. 28 | Access to Capital | Energy Finance | Green Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Greenhouse Gas Reduction Fund

White House Launches Federal-State Initiative to Bolster America's Power Grid
The White House | May. 28 | Access to Capital | Energy Finance | Legislative | Resiliency

Connecticut Green Bank Launches Solar, Battery Storage Assistance for Affordable Housing
Connecticut Green Bank | May. 22 | Community Development | Energy Finance | Green Finance | Housing Finance | Energy Efficiency Programs

U.S. HUD Announces $67M to Make Homes More Energy Efficient and Climate Resilient
U.S. Department of Housing and Urban Development | May. 21 | Access to Capital | Energy Finance | Federal | Green Finance | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)

Rhode Island Infrastructure Bank Issues $41.6M Bond for Sewer Overflow Project
PBN | May. 21 | Bond Finance | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Sewage & Waste | State Revolving Fund

How to Support Scaling and Speeding Up Transition Finance
GreenBiz | May. 21 | Access to Capital | Energy Finance | Green Finance

The Walker River Tribe in Nevada Receives $2.4M for Clean Water Infrastructure Project
Nevada Current | May. 20 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Resiliency | Water Finance

Guide to the Inflation Reduction Act in Pennsylvania
Pennsylvania House Democratic Caucus | May. 20 | Energy Finance | Infrastructure Finance | Tax Credits

Joliet to Receive $76M in Water Infrastructure Loans From Illinois EPA
The Times Weekly | May. 16 | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance

Tax Credit Choice for Solar and Wind Power in the Inflation Reduction Act
Resources | May. 16 | Energy Finance | Tax Credits

Detroit, MI Using IRA Funds to Help Low-Income Households be More Energy Efficient
wdet.org | May. 16 | Energy Finance | Housing Finance

Illinois EPA's RLF Provides $2.6M to the City of Hoopeston for Water Infrastructure Projects
VCF.com | May. 15 | Economic Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance



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 visit CDFA.net or email 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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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