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CDFA Energy Finance Update - June 1, 2021

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CDFA Energy Finance Newsletter
June 1, 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

Innovative Funding Methods to Achieve Climate Action & Equity in U.S. Cities
Without dedicated revenue streams to fund climate change mitigation, resilience, and environmental justice, U.S. cities will continue to face fiscal constraints. But even in our economically challenging times, the light of leadership remains bright at the city level. Mayors, community coalitions, advocacy groups, and city councils have maintained focus on climate change and the need for aggressive action to protect and improve their communities' futures.

Check Out Intro Public-Private Partnerships Course at CDFA Virtual Summer School
The Intro Public-Private Partnership (P3) Finance Course examines how development finance agencies can use P3s for real estate developments, schools, public transit, affordable housing, energy and water facilities, and other types of projects. This course covers basic P3 concepts, key players involved in transactions, asset valuation, contract negotiation, risk assessment, revenue stream development, and feasibility analysis.

Senate Finance Committee Advances Energy Tax Credit Overhaul Bill Amid Partisan Deadlock
Members of the Senate Finance Committee vied to add and preserve resource-specific tax credits to the Clean Energy for America Act, a bill intended to replace some 40 individual tax incentives with broader and more uniform tax credits tied to carbon emissions reductions. While Democratic members of the committee generally supported the bill, Republicans rejected the final version.

Municipality of Anchorage, AK Launches Innovative Energy Finance Program
Anchorage recently launched a program to enable the financing of clean energy projects for commercial buildings. Anchorage is the first local government in Alaska to create a C-PACE program, though the local program was designed with partners to be easily adopted by other tax assessing jurisdictions in Alaska.

Connecticut's C-PACE Program Surpasses $200M in Clean Energy Investment for Commercial & Nonprofit Properties
The Connecticut Green Bank has announced that the state's Commercial Property Assessed Clean Energy (C-PACE) program surpassed $200 million in clean energy investment in local businesses. This $200 million supported nearly 340 closed projects, which will provide an estimated lifetime energy cost savings of $300 million and reduce energy usage by over 5 million MMBTUs through efficiency upgrades and renewables.

Successful Sale of Green and Sustainability Bonds Takes Place in Massachusetts
The State Treasurer's Office officials announced that the Massachusetts Clean Water Trust has completed the sale of approximately $351.4 million in two series of new money Green and Sustainability Bonds. The Sustainability Bonds were the first such issuances from the Trust and the first in the nation for a state revolving fund. It was the Trust's sixth Green Bond issuance.

More Than 400 Communities are Now Solar Energy-Ready
The SolSmart program has reached an exciting new milestone: Over 400 counties, municipalities and regional organizations have achieved SolSmart designation! SolSmart communities can be found in 41 states, the District of Columbia and the U.S. Virgin Islands, representing a total of over 100 million people. These SolSmart-designated local governments have expanded local solar knowledge.

In Vermont, New Model Emerges to Improve Migrant Farmworker Housing
A migrant worker rights group, a worker-owned construction cooperative, and an efficiency utility are collaborating on new housing designs and financing to improve farmworker living conditions and reduce energy waste. One important source of funding for the project is the U.S. Department of Agriculture's Rural Development program, which offers 1% interest loans lasting up to 33 years for farmworker housing.

Upcoming Events
CDFA Virtual Summer School

CDFA Federal Financing Webinar Series: Federal Financing for Energy and Water Systems
Tuesday, June 8, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, experts from the EPA and DOE will highlight best practices, case studies, and mitigation tools that will help your community finance critical projects.

CDFA // BNY Mellon Development Finance Webcast Series: Rural Broadband & Telehealth Financing
Tuesday, June 15, 2021 - 2:00 PM - 3:00 PM Eastern
During this webinar, experts will explain how rural communities can embrace the challenges of financing high-speed internet for the economic and societal gains provided by broadband.

Energy Finance News

To Solve Climate Change, the Innovations We Need are Financial
The Hill | May. 28 | Energy Finance | Federal | Green Finance | Resiliency

Upcoming Webinar "Green Finance is Infrastructure: The $100B Opportunity for Green Banks"
JD Supra | May. 25 | Energy Finance | Green Finance | Resiliency

Biden's $15B for Hydrogen Tech Shows Ambition to Be Clean Energy World Leader
Benzinga | May. 25 | Energy Finance | Federal | Infrastructure Finance | Legislative

U.S. Department of Energy Announces $6.5M for Projects Advancing the Modernization of America's Water Infrastructure
U.S. Department of Energy | May. 25 | Federal | Infrastructure Finance | U.S. Dept. of Energy (DOE) | Water Finance

Tulsa County, OK Launches New Program for Energy, Water Efficiency
Fox 23 | May. 24 | Energy Finance | Green Finance | Local Finance Program | Property Assessed Clean Energy (PACE) | Resiliency | Water Finance

A Closer Look at Energy-Focused Financing for Multifamily
Multi-Housing News | May. 20 | Energy Finance | Green Finance | Housing Finance | Property Assessed Clean Energy (PACE) | Resiliency | Social Finance

Montana Program Makes Building Efficiency Upgrades Affordable
Public News Service | May. 17 | Access to Capital | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency | State Finance Program

Are Regenerative Buildings the Wave of the Future in Sustainable Design?
Environment + Energy Leader | May. 13 | Energy Finance | Green Finance | Resiliency

Vineyard Wind Approval Injects Fresh Optimism into Offshore Wind Industry
Energy News Network | May. 13 | Energy Finance | Federal | Green Finance | Public-Private Partnership (P3) Financing | Resiliency

One in Four Cities Cannot Afford Climate Crisis Protection Measures
The Guardian | May. 12 | Energy Finance | Green Finance | International | Resiliency

Illinois Pork Plant Powered By the Sun, Thanks to C-PACE Financing
Energy News Network | May. 12 | Agriculture Finance | Energy Finance | Food Systems Finance | Green Finance | Property Assessed Clean Energy (PACE) | Resiliency | Rural Development | Property Assessed Clean Energy Bonds (PACE) | Case Studies | Case Studies

Developers Secure $71M in Financing to Acquire, Preserve Housing in Tuckahoe, New York
Housing Finance | May. 11 | Bond Finance | Energy Finance | Historic Preservation | Housing Finance | Social Finance | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD) | Low Income Housing Tax Credits (LIHTCs)

U.S. Senate Adopts Drinking Water and Wastewater Infrastructure Act
Perkins Cole | May. 5 | Access to Capital | Federal | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Social Finance | Tribal Finance | U.S. Environmental Protection Agency (EPA) | Water Finance | Revolving Loan Funds (RLFs) | Drinking Water | Sewage & Waste | State Revolving Fund

Jacksonville, FL Port Authority Gets ‘A,' Stable Revenue Bond Rating
Jacksonville Daily Record | May. 5 | Bond Finance | Infrastructure Finance | International | Water Finance

DOE Launches Initiatives to Accelerate Solar Deployment in Underserved Communities
U.S. Department of Energy | May. 5 | Energy Finance | Federal | Green Finance | Innovation Finance | Social Finance | U.S. Dept. of Energy (DOE)

EPA Announces $6.5B in New Funding for Water Infrastructure Projects Through WIFIA
U.S. EPA | May. 3 | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance


Highlights from the Online Resource Database

CDFA // BNY Mellon Development Finance Webcast Series: Preserving Local Economies with Energy & Water Finance
Access to Capital | Disaster Recovery & Relief | Energy Finance | Green Finance | Infrastructure Finance | Resiliency | Water Finance
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, presenters discussed how energy and water finance programs can be positioned to meet community infrastructure needs and support efficient resource use while also stabilizing local economies in the face of climate, health, and economic crises.

Economic Adjustment Assistance: Experts' Proposed Reform Options to Better Serve Workers Experiencing Economic Disruption
Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Energy Finance | Infrastructure Finance | Organizational Management | Resiliency | Revolving Loan Funds (RLFs) | Rural Development | Social Finance
Federal economic adjustment assistance (EAA) programs were established, in part, to help workers adjust to these economic disruptions. Experts in the GAO's roundtable identified a range of challenges to using EAA programs to effectively respond to economic disruptions workers might experience. In this report, experts identify six reform actions that could better serve workers.


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

  • Baker Tilly
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor