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CDFA Energy Finance Update - July 6, 2021

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CDFA Energy Finance Newsletter
July 6, 2021
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Energy Finance Update

Spotlight

CDFA Releases Policy Proposal on Financing Electric Vehicle Charging Stations
To meet the need for electric vehicle (EV) infrastructure expansion, CDFA recommends the creation of a new Exempt Facility Bond category for vehicle recharging stations that would complement existing federal programs by making bonds available for the rapid expansion of charging infrastructure. CDFA also recommends that several existing federal financing programs be modified to allow for the financing of EV charging stations.

Features

New State Funding Puts Solar on the Curriculum for Minnesota Schools
A new, first-of-its-kind state fund could help triple the number of solar installations on Minnesota K-12 schools and community colleges. The omnibus commerce and energy policy and finance bill includes $16 million for solar projects on K-12 schools and nearly $5 million for community colleges.

Biden to Push Electric Vehicles, Clean Energy, Schools in Reconciliation Bill
President Biden will push for electric vehicle rebates, clean energy tax credits, and school funding in the reconciliation bill. The president agreed to a scaled-down infrastructure package in June worth $1.2 trillion with a bipartisan group of senators that does not include many of his policy priorities, like the tax credits and rebates, federal funding of pre-kindergarten or community college.

Virginia PACE Authority Launches Industry-First Marketplace for Funding Building Improvements
Virginia PACE Authority (VPA) was a 2020 winner of the RISE Resilient Innovations Challenge, a Virginia funding challenge which provides funds for worthy efforts to address the sea rise threat in the Hampton Roads region of the state. VPA won funding for several initiatives, including a web-based marketplace where C-PACE funding solutions are matched with projects targeting resiliency and energy efficiency improvements on commercial buildings.

Learn How to Finance Energy Infrastructure at CDFA Virtual Summer School on August 9-10
Communities throughout the country are aggressively searching for innovative strategies to finance energy, transportation, water, broadband, and other forms of critical infrastructure. At CDFA Virtual Summer School, attendees of the Intro Infrastructure Finance Course will learn about how vast array of capital solutions available in the development finance toolbox.

Rethinking Climate Finance to Improve Infrastructure Resilience
The impacts of a changing climate are no longer hypothetical. Each year, extreme events such as hurricanes, droughts, fires, and freezes grow more frequent and more intense—destroying homes, disrupting businesses, and damaging the natural world along the way. Minimizing and adapting to these impacts must be a priority for every unit of government and every sector of the economy.

Largest C-PACE Project in Connecticut Closes in Hartford
CastleGreen Finance has announced the closing of One Park Road in West Hartford, CT, the largest C-PACE transaction to date in Connecticut at $13,767,000. One Park Road is the redevelopment of an iconic convent which will add a 292-unit multi-family housing complex on the 22-acre property while maintaining much of the greenspace and preserving the Sisters of St. Joseph of Chambéry history and ensuring their retirement security at the property.

Four Proposals to Watch in Sen. Manchin's Big Energy Bill
Sen. Joe Manchin (D-W.Va.) released a 423-page draft bill that includes a $1.2 billion annual nuclear credit program, full funding for Energy Act of 2020 clean energy demonstration programs, and money to deploy more carbon capture and hydrogen pipeline infrastructure. It is also widely seen as a potential piece of the broader $1 trillion infrastructure agreement backed by a group of 21 bipartisan senators.

Bipartisan Infrastructure Plan 2-Pager Released
This bipartisan infrastructure plan is supported by a group of 20 senators—10 Democrats and 10 Republicans—to usher our nation's infrastructure into the 21st century. If signed into law, it would represent the largest infrastructure investment in American history. The plan includes $579 billion in new spending to rebuild America's roads and bridges, improve public transit systems, invest in broadband infrastructure, and upgrade our airports.

CDFA Wants PABs for Electric Vehicle Charging Stations
The Council of Development Finance Agencies is including the enactment of tax-exempt private activity bonds for electric car charging stations among its top lobbying priorities for inclusion in federal infrastructure legislation. CDFA also wants Congress to enact enhancements for aggie bonds and industrial development bonds as well as reinstate the tax exemption for advance refunding bonds.

Upcoming Events
CDFA Virtual Summer School

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE
Tuesday, July 27, 2021 - 2:00 PM - 4:00 PM Eastern
Certain property and project types have not taken full advantage of PACE, however, during this workshop we'll explore what is being done to advance the goals in these market areas.

CDFA Federal Financing Webinar Series: Investing in Critical Community Facilities
Tuesday, August 24, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, several federal agencies will discuss their financing solutions for local community facilities and how to coordinate with partners.

Energy Finance News

Maryland DHCD Issues First Sustainability Bonds in Agency's History
NCSHA | Jun. 29 | Bond Finance | Energy Finance | Green Finance | Housing Finance | Tax Credits | Low Income Housing Tax Credits (LIHTCs)

Energy Efficiency Can Rein in Costs From Healthy Building Air Quality Projects
Energy News Network | Jun. 25 | Energy Finance | Green Finance | Resiliency

U.S. Green Banks Urge Congress to Establish a National Climate Bank
S&P Global | Jun. 24 | Energy Finance | Federal | Green Finance | Legislative | Resiliency

CDFA Sends Letter to Congress Asking for Bond Finance Provisions in Infrastructure Bill
CDFA | Jun. 24 | Bond Finance | CDFA Press Releases | Energy Finance | Legislative

Stakeholders Balk at Mandates That Would Allow Illinois Coal Plants More Time to Pay off Bonds
The Bond Buyer | Jun. 23 | Bond Finance | Energy Finance

New Michigan Legislation Would Expand Commercial Clean Energy Financing Program
MI Tech News | Jun. 22 | Energy Finance | Property Assessed Clean Energy (PACE) | Resiliency | Property Assessed Clean Energy Bonds (PACE)

Fairfield, Ohio Considers New Program for Energy Efficiency to Drive Development
Journal-News | Jun. 22 | Energy Finance | Local Finance Program | Property Assessed Clean Energy (PACE)

Bipartisan $973B Infrastructure Proposal Alarms EV Advocates With Annual Surcharge on Vehicles
Utility Dive | Jun. 21 | Energy Finance | Infrastructure Finance | Legislative

Green Trend Adoption Is Becoming More Essential For The Financial Services Industry
Forbes | Jun. 18 | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Resiliency

New York City, NY Issues Biggest-ever C-PACE Loan for 111 Wall St. Retrofit
Real Estate Weekly | Jun. 17 | Energy Finance | Property Assessed Clean Energy (PACE) | Resiliency | Property Assessed Clean Energy Bonds (PACE) | Case Studies

Everything You Need to Know About the Infrastructure Bills Traveling Through Congress
The American Prospect | Jun. 14 | Access to Capital | Bond Finance | Energy Finance | Federal | Green Finance | Infrastructure Finance | Legislative | Water Finance

Sugar Valley, CA Energy Project Verified to Issue Green Bonds for Financing
The Desert Review | Jun. 14 | Access to Capital | Bond Finance | Energy Finance | Green Finance | Infrastructure Finance | Water Finance

Otter Tail County, MN Leaders Work to Secure Financial Assistance for Rural Septic System Replacements
Otter Tail County, MN | Jun. 14 | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | U.S. Environmental Protection Agency (EPA) | Water Finance

Schenectady County, NY Approves New Property Clean Energy Investment Program
ABC10 | Jun. 9 | Energy Finance | Property Assessed Clean Energy (PACE) | Property Assessed Clean Energy Bonds (PACE)

Global Green Bond Issuance to Gather Steam After Record Q1, EU to Stay in Lead
S&P Global | Jun. 2 | Bond Finance | Energy Finance | Green Finance | International

The Smartest Way to Finance Clean Energy That You've Never Heard Of
Vox | Jun. 2 | Energy Finance | Federal | Green Finance | Innovation Finance | Legislative


Highlights from the Online Resource Database

Fact Sheet: The American Jobs Plan Housing Provisions
Disaster Recovery & Relief | Economic Development | Housing Finance | Legislative | Tax Credits | Urban Development | Community Development | Energy Finance | Infrastructure Finance | Social Finance
The Biden-Harris Administration is proposing a bold investment in America's housing infrastructure to make housing more affordable for working and middle-class families. The American Jobs Plan pairs $213 billion in direct funding with more than $100 billion in new and expanded tax credits with bipartisan support to build and modernize housing across the country.


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

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  • Brownfield Superfund Advisory, Inc
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  • MuniCap, Inc.
  • NW Financial Group, LLC
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  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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