Development Finance Review Weekly - March 25, 2021
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Features |
IIUSA & CSCJ Applaud Bipartisan Introduction of EB-5 Reform & Reauthorization Bill
The Coalition to Save and Create Jobs (CSCJ) and Invest in the USA (IIUSA) announced the introduction of the EB-5 Reform and Integrity Act of 2021 by Senators Chuck Grassley (R-IA) and Patrick Leahy (D-VT). The bipartisan bill supports the long-term reauthorization and reform of the EB-5 Regional Center Program. Sign on to the Coalition to Save & Create Jobs to support the future of EB-5 before the program's June 30, 2021 sunset date.
'TIF for Jobs' Bill Passed by Washington State Senate Business, Financial Services & Trade Committee
Authorizing Tax Increment Financing (TIF) is one critical action identified by the Washington Economic Development Association (WEDA) for state lawmakers to take in the 2021 legislative session to help communities recover from the pandemic. The Senate Business, Financial Services & Trade Committee has passed the TIF for Jobs bill (ESHB 1189) and further information can be found on WEDA's website.
Rethinking Infrastructure Finance and Development Under Biden
Rather than using legislation simply to provide more funding through existing channels, President Biden could use his upcoming "Build Back Better" infrastructure plan as an opportunity to dramatically transform how infrastructure is funded and delivered in the U.S., O'Melveny & Myers attorneys say.
CDFA to Host Webinar Discussing How PACE is Utilized Across Market Segments
Property Assessed Clean Energy (PACE) can be used for new construction, existing building renovations, or refinancing - and each market segment has its own view of why PACE is valuable. During this next workshop in the CDFA-Bricker PACE Webinar Series, speakers from Bricker & Eckler LLP, PACENation, PACE Loan Group, Warren County Port Authority, and Plug Smart will provide insights and details into each market segment.
South Carolina Gets $314M Ag-Tech Center for Multiple Users
A $314 million ag-tech center — that will grow indoors, copack, distribute and sometimes process fresh greens, tomatoes, blueberries, and other produce — is coming to South Carolina. With artificial intelligence and blockchain technology provided by Core Scientific, this center is a joint venture project among Mastronardi Produce, Clear Water Farms, LiDestri Food and Drink, and the GEM Opportunity Zone Fund.
EIG Sends Opportunity Zones Policy Recommendations Letter to Treasury
EIG writes as a broad coalition of stakeholders to make recommendations to the Biden administration to improve and strengthen the Opportunity Zones incentive, which provides tax benefits for qualifying investments in low-income communities. With such improvements, the OZ incentive will be well-positioned to play a key role in a "build back better" agenda that supports historically underserved communities.
Legislation Introduced to Expand Access to Affordable Credit for Farmers
Wisconsin Democrat Ron Kind and Iowa Republican Randy Feenstra introduced the bipartisan Enhancing Credit Opportunities in Rural America Act. The legislation would remove taxation on income from farm real estate loans made by community banks. The act would benefit farmers, families, and rural communities by allowing more institutions to offer affordable credit to rural and agricultural borrowers.
USDA Invests $598M to Improve and Modernize Rural Electric Infrastructure
USDA announced a $598 million rural electric loan package to build or improve electric infrastructure in 11 states. This funding will benefit 460,000 rural residents and businesses in Arizona, Kentucky, Maine, Minnesota, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, Utah, and Virginia. Several of the loans will help expand smart grid technologies, which can be a catalyst for broadband and other telecommunications services.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Muni Yields Fall Again as NYC TFA, Maryland DOT Price With Ease
Municipals were firmer across the curve as the New York City Transitional Finance Authority repriced its $1 billion deal to double-digit lower yields and the primary and stronger U.S. Treasuries again helped to direct secondary markets stronger.
North Carolina Governor Proposes $4.7B Infrastructure Bond Vote
North Carolina Gov. Roy Cooper on Wednesday recommended placing a $4.7 billion general obligation bond referendum before voters in November. As Cooper released his recommended budget of $55.9 billion for fiscal years 2021 through 2023, he noted the bonds would address the state's infrastructure needs.
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 |
National SSBCI 2.0 Call - March 26, 2021
Friday, March 26, 2021 - 1:00 PM - 2:00 PM Eastern
Join CDFA on Friday, March 26, 2021 for an important conversation about the State Small Business Credit Initiative (SSBCI) being signed into law.
CDFA Food Systems Finance Webinar Series: Financing Food-Centered Redevelopment
Tuesday, April 13, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how investing in food-centered redevelopment can restore local food systems infrastructure, catalyze additional neighborhood development, and protect healthy, sustainable communities.
CDFA // BNY Mellon Development Finance Webcast Series: Social Impact Investing Credit Ratings for CDFIs
Tuesday, April 20, 2021 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, we will explore how CDFIs, by obtaining a credit rating, can demonstrate the value of making social impact investments.
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Job & RFP Postings |
FCLF Position Available: Loan Officer, Central Florida
FCLF is seeking an experienced Community Development Loan Officer to promote FCLF in the Central Florida area. Successful candidates will identify potential projects and will obtain, underwrite, and analyze loan applications for commercial loans to benefit primarily not-for-profit enterprises, which would be funded by loans facilitated through FCLF.
Invest Atlanta Hiring Project Manager for Entrepreneurship and Innovation
Invest Atlanta, the Economic Development Authority for the City of Atlanta, seeks a driven, passionate, and resourceful team player to partner with our existing Small Business Development team and lead Invest Atlanta's Entrepreneurship and Innovation initiatives. This professional will have two to five years of experience working with or in a tech entrepreneur ecosystem with specific experience supporting equity and economic mobility for female and minority entrepreneurs and startups.
Invest Atlanta Hiring an Executive Director for Worksource Atlanta
The Executive Director will lead a professional staff and maintain strong working relationships with public and private organizations and businesses while developing partnerships with other education, workforce, philanthropic, nonprofit, and economic development agencies to support the City's strategic priorities and the mission of WorkSource Atlanta.
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This Week's Headlines |
EPA Celebrates World Water Day, Announces $2.7B to Improve Water Infrastructure
U.S. EPA | Mar. 24 | Energy Finance | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance
Ohio House Agriculture Committee Passes House Bill 95, the Family Farm ReGeneration Act
OEFFA | Mar. 24 | Agriculture Finance | Food Systems Finance | State Finance Program | Tax Credits
SBA to Increase Lending Limit for COVID-19 Economic Injury Disaster Loans
U.S. SBA | Mar. 24 | Access to Capital | Disaster Recovery & Relief | Federal | U.S. Small Business Administration (SBA) | COVID-19
Washington Community Economic Revitalization Board invests $3M in Douglas County
Washington Community Economic Revitalization Board | Mar. 24 | Access to Capital | Community Development | Infrastructure Finance
JEDA Issues $87.9M in Bonds for Conway Medical Center
SC JEDA | Mar. 23 | Bond Finance | Healthcare | Member News
About the COVID-19 Relief Restaurant Revitalization Fund
Mondaq | Mar. 22 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | COVID-19
University Avenue Corridor in Waterloo, IA Could See New $13.7M Economic Development District
The Courier | Mar. 22 | Tax Increment Finance (TIF)
U.S. EDA Marks Milestone: $1B in CARES Act Grants Awarded
U.S. EDA | Mar. 22 | Community Development | Disaster Recovery & Relief | Federal | Resiliency | U.S. Economic Development Administration (EDA) | COVID-19
Alabama Historic Tax Credit Program Fuels Growth, Sparks Debate
AL.com | Mar. 21 | Historic Preservation | Housing Finance | Tax Credits | Low Income Housing Tax Credits (LIHTCs) | State Historic Tax Credits
Manufacturer Eyes $2.5M Investment, TIF Support in Cascade, IA
Telegraph Herald | Mar. 19 | Tax Increment Finance (TIF)
New Beef Processing Plant Planned for North Platte, NE
Fox NE | Mar. 19 | Food Systems Finance | Tax Increment Finance (TIF)
Overland Park, KS Development Costs Decrease as Developer Wins $8M State Grant
Shawnee Mission Post | Mar. 19 | Housing Finance | Tax Increment Finance (TIF)
PNC Bank Invests $18M to Finance New Sylvan Hills Affordable Senior Housing in Atlanta, GA
What Now Atlanta | Mar. 19 | Bond Finance | Housing Finance | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD) | Private Activity Bonds | Low Income Housing Tax Credits (LIHTCs)
Alternative Proteins Saw Record $3.1B Investment in 2020
Progressive Grocer | Mar. 18 | Access to Capital | Food Systems Finance
Supporting Underserved Markets with $1.5B in LIHTC Equity Investments
Fannie Mae | Mar. 18 | Housing Finance | Tax Credits | Low Income Housing Tax Credits (LIHTCs)
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New Additions to the Online Resource Database |
2020 Annual Homeless Assessment Report (AHAR) to Congress
Community Development | Housing Finance
This report outlines the key findings of the Point-In-Time (PIT) count and Housing Inventory Count (HIC) conducted in January 2020, as well as estimates of chronically homeless persons, homeless veterans, and homeless children and youth. The report found that 580,466 people experienced homelessness in the United States on a single night in 2020, an increase of 12,751 people, or 2.2 percent, from 2019.
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National Sponsor Spotlight |
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FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
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Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company that has $168 billion in assets and operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. With nearly 160 years of...
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Frost Brown Todd, LLC
With over 500 lawyers across their eight-state footprint, Frost Brown Todd, LLC offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
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CDFA Bookstore |
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Innovation Finance Reference Guide
The Innovation Finance Reference Guide explores the growing seed, venture capital, and angel investment industry, and gives development finance agencies a roadmap for building an innovation finance initiative that supports entrepreneurship, business investment, and job creation.
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New Members |
First Southwest Bank - Durango, CO
North Carolina Agricultural Finance Authority - Raleigh, NC
Obion County Joint Economic Development Corporation - Union City, TN
Royse City Economic Development Corporation - Royse City, Texas
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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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