Development Finance Review Weekly - December 15, 2022
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Features |
Access to Capital for Entrepreneurs Receives $3.75M from Truist Foundation to Support Expansion Into South Georgia
Truist Foundation announced a $3.75 million commitment to launch the Diverse, Equitable, and Inclusive Small Business Capital strategy at Access to Capital for Entrepreneurs Inc. (ACE), a nonprofit and community development financial institution, that provides capital, coaching, and connections to help borrowers create and grow sustainable businesses that generate jobs.
7 Idaho Companies Receive USDA Loans to Help Expand Services, Create Jobs
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that the department has allocated $981 million for 242 projects to help create new and improved market opportunities and expanded essential services for rural communities and businesses across the country, The funding will help keep resources and wealth in rural communities through affordable financing and technical assistance, allowing rural businesses to begin and expand.
Housing Tax Credit Bill Gains Bipartisan Support in Congress
There is bipartisan support in Congress for a bill that would provide tax credits to developers covering a portion of the cost of building or rehabilitating homes in struggling communities. Support for the new bill comes as cities and states throughout the U.S. grapple with an affordable housing crisis, in which the rising cost of buying and renting a home has become out of reach for many.
Kansas to Invest $7M Into Rural Market Communities
USDA Kansas State Director for Rural Development Christy Davis announced that the Department is investing $7,168,490 in loans and grants to help create new and better market opportunities and expand essential services for rural people, businesses, and entrepreneurs in rural Kansas communities.
New Funding Brings Meat Cutting and Butchery Training to Minnesota Students
A new grant opportunity from the Minnesota Department of Agriculture (MDA) helps Minnesota schools looking to establish or enhance meat-cutting and butchery training for secondary students.
The Meat Education and Training (MEAT) Grant Program will award about $350,000 in one-time funding from the Minnesota Legislature to secondary career and technical education programs to fund equipment, facility renovation, curriculum development, faculty training, and more.
Dover, DE Considers TIF Districts for Its Future
Dover officials are working on new legislation that would give the city and potential developers a major tool that could incentivize a new future for its downtown district. The Dover City Council is set to vote on an ordinance that would enable the city to create tax increment financing (TIF) districts.
Rice County, MN Joins Program Offering Loans for Farm, Business Energy Improvements
Rice County has entered into a joint powers agreement with MinnPACE, to provide Commercial Property Assessed Clean Energy (C-PACE) financing to commercial building owners and farm operators countywide.
$36M Tax-Exempt Bond Issued for Massachusetts School
MassDevelopment has issued a $36 million tax-exempt bond on behalf of The Park School, a nonprofit, coeducational day school for grades pre-K through eight, which will use a portion of bond proceeds to fund several capital projects on its campus at 171 Goddard Ave.
$186M WIFIA Loan to Modernize Wastewater Infrastructure in Chattanooga, TN
The U.S. EPA announced a $186M Water Infrastructure Finance and Innovation Act (WIFIA) loan to Chattanooga, TN, to support its Wastewater Compliance and Sustainability Project. With this WIFIA loan, EPA is helping the City of Chattanooga improve its wastewater system's energy efficiency and resilience to extreme weather while saving ratepayers millions of dollars.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Pennsylvania Pricing $1.9B PABs for P3 Bridge Program
Pennsylvania is coming to market Tuesday with what's considered the largest private activity bonds surface transportation allocation to date as part of a high-profile public-private program to rebuild bridges across the commonwealth.
PR Board Gets Another Extension on PREPA Deal, Argues Negotiations Progressing
Hope for a Puerto Rico Electric Power Authority deal rose as the bankruptcy judge granted the Oversight Board an additional five days to submit a plan of adjustment for the authority, following a deal negotiated with fuel line lenders the board says will entice other parties to come to the table.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.
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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: Financing Approaches to Meet Affordable Housing Needs
Tuesday, December 20, 2022 - 2:00 PM - 3:00 PM Eastern
Both urban and rural places in the U.S. are experiencing housing shortages, and affordability remains a major issue across much of the country. Public officials, development finance professionals, and private developers alike are working to address gaps in housing types and price points, but financing such projects often requires creativity. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of housing finance experts will discuss the tools, programs, and strategies that can be used to meet local demand for affordable housing options.
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Job & RFP Postings |
The Memphis and Shelby County Community Redevelopment Agency-RFP
The Memphis and Shelby County Community Redevelopment Agency (CRA) is seeking qualified and experienced respondents to submit proposals to act as the developer for two sites in the Uptown TIF Redevelopment Area along Jackson Avenue close to St. Jude Children's Research Hospital. Both sites are locations of former grocery stores obtained by the CRA – one is a little over 3 acres, the other 4.5 acres. Both are located in the heart of Memphis between the Medical District and Midtown.
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This Week's Headlines |
Bonds for Schools Win in Growing North Carolina Communities
EdNC | Dec. 12 | Bond Finance | Education | Infrastructure Finance
Clene Announces Closing of $5 Million Debt Facility From the State of Maryland
Biospace | Dec. 12 | Access to Capital | Public-Private Partnership (P3) Financing | State Small Business Credit Initiative (SSBCI)
Price of Canton City Schools in Ohio Restructuring Proposal Jumps
CantonRep.com | Dec. 12 | Bond Finance
St. Louis, MO Symphony Seeks State Tax Incentives for $100M Expansion
St. Louis Post- Dispatch | Dec. 12 | Incentives | State Finance Program | Tax Credits
Tampa, FL CRA Boosts Funding for Affordable Housing
Tampa.gov | Dec. 12 | Economic Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Trussville Council in Alabama Approves Bond Sale for Civic Center, Fire Station Project
Tribune Interactive | Dec. 12 | Bond Finance | Education | Infrastructure Finance
USDA Announces $325M in Pilot Projects for Climate-Smart Commodities
USDA | Dec. 12 | Access to Capital | Agriculture Finance | Development Finance Toolbox | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | Rural Business Finance
Merrillville, IN Reviews Options for 79th Avenue Work
The Times of Northwest Indiana | Dec. 11 |
California Awards $1B for Walking and Biking Projects
Lake County News | Dec. 10 | Access to Capital | Community Development | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | U.S. Dept. of Transportation (DOT) | Urban Development | Understanding Access to Capital | Transportation | Legislative Activities
JPMorgan Chase Commits $7.45M to Miami-Dade, FL Affordable Housing Push
Miami Herald | Dec. 10 | Access to Capital | Green Finance | Housing Finance | Member News | Revolving Loan Funds (RLFs) | Resiliency
Kentucky Agricultural Finance Corporation Approves Over $2M in Loans
The Lane Report | Dec. 9 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program
U.S. Treasury Awards Louisiana $113M to Support Small Business Growth Through SSBCI
New Day Post | Dec. 9 | Access to Capital | Revolving Loan Funds (RLFs) | State Small Business Credit Initiative (SSBCI)
Broadband Access Still a Challenge in Rural Affordable Housing
PEW | Dec. 8 | Housing Finance | Infrastructure Finance | Rural Development
New Legislation Eliminating Tax Liability for IRA Assistance for Distressed Farmers
Insider NJ | Dec. 8 | Access to Capital | Agriculture Finance | Federal | Legislative | Social Finance
USDA Invests $6M to Expand Market Opportunities in Rural Wisconsin
WEAU 13 | Dec. 8 | Access to Capital | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | State Rural Financing Programs
U.S. Treasury Announces Capital Projects Fund Awards for High-Speed Internet
U.S. Treasury | Dec. 8 | Access to Capital | Disaster Recovery & Relief | Federal | Infrastructure Finance | Legislative | Rural Development | U.S. Dept. of Treasury | COVID-19 | Broadband | Case Studies
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National Sponsor Spotlight |
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BNY Mellon
BNY Mellon is the world's leading provider of corporate trust and agency services, administering $28.5 trillion in outstanding debt from 69 locations in 39 countries. Our clients include governments and their agencies, corporations, financial...
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Bricker & Eckler LLP
Bricker & Eckler LLP, is one of Ohio's leading law firms. Located in Columbus, Cleveland and Cincinnati-Dayton, the firm represents corporations, nonprofit organizations, government agencies, health care facilities, school districts, and...
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Wells Fargo Securities
Wells Fargo Securities offers a comprehensive set of capital markets services, including originating and distributing public debt and equity, hedging interest rates and commodity and equity risks, advising on mergers and acquisitions, and...
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CDFA Bookstore |
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Tax Credit Finance Reference Guide
The Tax Credit Finance Reference Guide provides an exploratory overview of how communities can use tax credit finance programs to support economic growth. This guide examines how to effectively apply tax credits to development opportunities, and explains the basics of tax credits and the fundamentals of using these tools.
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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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