CDFA is traveling to Philadelphia, PA for the 2023 National Development Finance Summit! The NDFS brings together leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. Register today for Early Bird rates!

A Washington, D.C., developer is taking advantage of a special financing vehicle offered by Allegheny County to make $5 million in improvements to a Downtown office building. Douglas Development Corporation is planning to upgrade the elevators and plumbing and install new HVAC units and lighting at the 26-story Centre City Tower at 650 Smithfield St. with the help of the county's C-PACE.

Washington announced $23.4 million in grant funding to improve the resilience of its power grid against wildfires, extreme weather, and other natural disasters exacerbated by the climate crisis. The funding was awarded to the Washington State Department of Commerce by the U.S. Department of Energy's Grid Deployment Office and was authorized by the IIJA.

California Custom Processing has sealed a $33.5 million debt package for the refinance and expansion of an almond processing facility and renewable energy system in Northern California. X-Caliber Rural Capital provided a $29.5 million loan through the USDA Food Supply Chain Guaranteed Loan Program for CCP's 65,000-square-foot asset in Madera, California. CastleGreen Finance also supplied $4 million of C-PACE financing for the project through the California Statewide Communities Development Authority. 

Ohio announced the availability of approximately $111 million under the State Small Business Credit Initiative program to support the Ohio Early Stage Focus Fund and Ohio Venture Fund. These funds will help increase the amount of early-stage capital invested in Ohio technology-based companies, accelerate the growth of high-potential companies, and create a climate that supports the development, retention, and attraction of technology companies in Ohio.

TWG, a national real estate development company specializing in commercial, market rate, affordable, and senior housing developments, has begun construction of Reserve at Spencer, a $42.9 million affordable, multifamily community in St. Peters, Missouri. This community marks TWG's third low-income housing tax credit (LIHTC) project in the state of Missouri.

Investment in non-real estate businesses by community development entities that receive new markets tax credit allocation continues to grow. Through fiscal year 2021, non-real estate qualified active low-income community businesses received $34.3 billion of NMTC investment, constituting 54.9% of all investment in the history of the NMTC program. This marks an increase from 10 years ago when non-real estate QALICBs received only 40.3% of investment.

The Michigan Department of Environment, Great Lakes, and Energy (EGLE) is awarding a combined $3 million in brownfield redevelopment funding to 3 projects in the city of Muskegon. These projects are expected to draw $355.4 million in private investment and create more than 700 new housing units in the city.

City of Dallas is looking for a full-time manager position for the Office of Economic Development. This position may manage, oversee, and facilitate all economic development activities in its assigned community. It may also be responsible for coordinating multi-departmental teams, leading meetings, developing policy, marketing, monitoring compliance, etc.

The New Jersey Economic Development Authority is now accepting applications for the Brownfields Redevelopment Incentive Program until 5 pm on Thursday September 21st. This $300 million competitive program offers up to $8 million in tax credits per project for environmental investigation, remediation, abatement, and demolition activities to allow for the redevelopment of brownfield sites in New Jersey.

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