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Development Finance Review Weekly - May 9, 2019

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Development Finance Review Weekly
May 9, 2019
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CDFA Development Finance Review Weekly

Feature

Bill Would Provide $5.8B Increase in DOT PABs
The proposed Building United States Infrastructure and Leveraging Development (BUILD) Act would raise the federal cap on private activity bonds for surface transportation and freight improvement projects by $5.8 billion. The Department of Transportation has just over $2.5 billion remaining in authorized PAB usage for surface transportation and freight improvement projects.

City Of Houston, TX Pinpoints OZ Projects
An influx of investment dollars into low-income, urban communities around the U.S. through the Opportunity Zones program has led to increasing property values and fears of displacement. Houston is fighting against that fate, and recently released an OZ prospectus identifying key development opportunities in five neighborhoods.

MD School District Looks to P3s to Solve $8.5B Backlog
Prince George's County, Maryland, officials say they're going to use use public-private partnerships (P3s) to help address an $8.5 billion backlog of public school construction and maintenance projects. If Congress passes the Public Buildings Renewal Act, a variety of facilities would be eligible for PAB financing and the use of P3.

EPA Announces Availability of $2.6B of Funding for Water Infrastructure
The U.S. EPA announced the availability of more than $1 billion in new federal grant funding for the Drinking Water State Revolving Fund and $1.6 billion in new federal grant funding for the Clean Water State Revolving Fund. The funds can assist states, tribes and territories with improving drinking water and wastewater infrastructure across the country.

Trump Administration to Support Community Revitalization, Local Food Initiatives
In support of the Executive Order on Promoting Agriculture and Rural Prosperity in America, the U.S. EPA joined the USDA and the Northern Border Regional Commission in announcing assistance to help 15 communities with revitalization strategies that boost the local economy, improve health, and protect the environment.

Clean Energy in OZs
In this interview with pv magazine, New Energy Nexus CXO Jon Bonanno describes the significant opportunity presented by the federal Opportunity Zone program – and the limited window of time to take full advantage of the program.

VT Policies Spur Solar Development on Landfills and Brownfields
A Vermont policy meant to steer solar projects away from undeveloped and agricultural land appears to be working two years after it was implemented. State regulators have received more than 100 applications from developers seeking to qualify under the policy.

LIHTC Investors Assess the Market
Several issues are on the radar screen for low-income housing tax credit (LIHTC) investors as they head into the second half of the year. A softening of market-rate rents, potential project delays, and higher interest rates are all being carefully monitored. Although investors feel pretty good about the LIHTC market this year, they're still cautious.

Upcoming Events
CDFA Summer School
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Clean Energy Bonds Proposed by Senate Democrats
Public power companies, electric co-ops and local governments would be authorized to sell Clean Energy Bonds as part of a far-reaching proposal by Senate Democrats. The proposed Clean Energy Act would become the template for all federal tax preferences for the energy sector replacing temporary tax credits for wind and solar and repealing existing tax breaks for oil and gas production.

High Point, NC Prepares $54.5M Bond Sale
High Point, NC plans to issue $54.5 million in revenue bonds to finance several water and sewer projects. Once the bonds are issued in June, the city plans to use $37 million of the proceeds to pay for projects that have recently been completed or are currently under contract.

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.

CDFA Spotlight

CDFA Now Accepting Applications for Online Brownfields Project Marketplace!
CDFA's next Brownfields Project Marketplace will be held online on July 18. The Marketplace is FREE brownfields financing technical assistance. The Marketplace is an open forum that connects communities looking to finance brownfield redevelopment projects with development financiers and brownfield project experts.

Upcoming Webcasts

ReConnecting Rural Broadband - Strategies for Funding Success
Friday, May 10, 2019 - 1:00 PM Eastern
Join CDFA and experts from across the country as we discuss creative solutions for responding to ReConnect's funding notice, and discover additional creative methods of financing rural broadband infrastructure.

This Week's Headlines

OH Town Gets Closer to Upgrades to Community Center
Journal-News | May. 8 | Bond Finance | Community Development | Property Assessed Clean Energy (PACE)

CT Awards $10.3M in LIHTCs
Affordable Housing Finance | May. 8 | Community Development | Tax Credits

New Angel Fund Wants to Invest Only in CO
BusinessDen | May. 8 | Access to Capital | Innovation Finance

USDA TN Farm Services Agency Offers Farm Loans
Overton County News | May. 7 | Access to Capital | Agriculture Finance | Food Systems Finance

Rising Debt Imperils Trump, Dem hopes on Infrastructure
The Hill | May. 7 | Infrastructure Finance | Public-Private Partnership (P3) Financing

Economists Flee Agriculture Dept. After Feeling Punished Under Trump
Politico | May. 7 | Agriculture Finance | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

OH Port Authority Working on New Approach
Herald-Star | May. 6 | Community Development | Economic Development | Energy Finance | Opportunity Zones | Tax Credits

Going Green Has Some NYC Landlords Seeing Red
The Real Deal | May. 6 | Energy Finance | Property Assessed Clean Energy (PACE) | Urban Development

Restructuring Support Agreement Reached for PR Power Company
Caribbean Business | May. 6 | Bond Finance | Energy Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing

Racine, WI Brewing Co. to Expand Wholesaling Thanks to RLF
The Journal Times | May. 6 | Revolving Loan Funds (RLFs)

AZ Updates LIHTC Caps
Mohave Daily News | May. 6 | Community Development | Tax Credits

OH Film Tax Credit Could Get Axed In State Budget
WOSU | May. 6 | Tax Credits

With $8.5B Work Backlog, MD County Schools Look to P3
The Washington Post | May. 5 | Community Development | Infrastructure Finance | Public-Private Partnership (P3) Financing

City of Olean, NY Receives Grant for Economic Development of Brownfield
Tap Into Greater Olean | May. 5 | Brownfield Financing | Housing Finance

MN PFA Awards Over $28M in Water Infrastructure Projects
MN DEED | May. 3 | Infrastructure Finance | Water Finance


National Sponsor Spotlight

SB Friedman Development Advisors SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
Stern Brothers Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...
Stifel Nicolaus Stifel Nicolaus
Stifel Nicolaus is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments, saving millions of dollars for their public and private sector clients.

Partner Spotlight

informANALYTICS by Center for Governmental Research informANALYTICS by Center for Governmental Research
The Center for Governmental Research (CGR) is a nonprofit organized under section 501(c)(3) of the Internal Revenue Code. CGR brings expertise to issues spanning economics and public finance, government management, health and human services and...

CDFA Bookstore

Cover thumbnail Advanced Tax Increment Finance Reference Guide 2nd Edition
The Advanced Tax Increment Finance Reference Guide builds upon CDFA's introductory offerings by exploring in-depth the complexities and transformative potential of tax increment financing.

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.

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

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner 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
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor