Development Finance Review Weekly - February 22, 2024
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Features |
The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!
Maryland Receives $213.7M from DOT to Replace Light Rail Vehicles
The Maryland Transit Administration has been awarded $213.7 million in grant funding from the U.S. Department of Transportation's (DOT) Federal Transit Administration's Rail Vehicle Replacement program, which was made possible by the Infrastructure Investment and Jobs Act. The grant will support the Maryland Transit Administration's efforts to replace all 52 aging Light Rail vehicles in its fleet with new, modern railcars. The State of Maryland is providing $90 million in matching funds.
USDA Announces $772.6M for Rural Infrastructure Projects
The U.S. Department of Agriculture (USDA) announced $772.6 million in funding for 216 projects in 45 states, Puerto Rico, and the Northern Mariana Islands to bring high-speed internet, clean water, state-of-the-art infrastructure, and economic growth to rural communities. The new projects will benefit more than 1 million people living in remote areas of the country by providing reliable high-speed internet access, clean, safe water, and a range of support for rural families, agricultural producers, and small businesses.
'Green' Fuel Facility Planned in St. Louis, MO with $7M in NMTC
The city of St. Louis has authorized up to $7 million in tax credits for a startup - Terra Environmental Holdings - that wants to locate an industrial facility in south St. Louis. The startup wants to use the money to help finance the purchase, renovation, and equipment for a 27,900-square-foot industrial facility at 3600 S. First St., in the Marine Villa neighborhood.
EPA's Clean Water and Drinking Water State RLF to Fund Ohio Water Infrastructure
U.S. Senator Sherrod Brown announced that the state of Ohio is receiving another major investment from the U.S. Environmental Protection Agency (EPA) to upgrade aging water infrastructure, replace lead pipes, and address emerging contaminants. The investments will help ensure safe drinking water for Ohioans, and create jobs for Building Trades workers throughout the state. The investment was awarded through EPA's Clean Water and Drinking Water State Revolving Funds.
Lebanon, NH City Council to Consider Creating an RLF for Municipal Housing Development
The city is taking the first step for plans to use $440,000 in state grant money to help fund the development of affordable homes on city-owned land for public employees. The City Council will hold a public hearing to consider creating a revolving fund to support the planning and construction of "pocket neighborhoods," or clustered groups of six to 12 homes that share an open space, on up to three city-owned properties.
New York Expanding SSBCI Capital Access Program with $29.4M for Loan Loss Reserves
The State Small Business Credit Initiative (SSBCI) is expanding the New York State Capital Access Program (CAP) with $29.4 million to provide matching funds to financial institutions for loan loss reserves as an incentive to increase small business lending. New York State's CAP is a loan loss portfolio insurance program designed to increase financing opportunities for New York State's small businesses.
Whitefish City Council in Montana to Vote on Pioneering C-PACE Program
In an upcoming meeting that promises to reshape the landscape of Whitefish, Montana, the City Council is preparing to cast a pivotal vote on the introduction of a groundbreaking financial initiative designed to spur property improvements across a broad spectrum. The Commercial Property Assessed Capital Enhancement (C-PACE) program, a beacon of sustainability and innovation, stands at the forefront of this session, alongside a set of critical civic improvement proposals.
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Upcoming Events |
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Upcoming Webcasts |
CDFA Food Systems Finance Webinar Series: Exploring Bonds as the Foundational Financing Tool
February 27, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, speakers will explore the potential for leveraging this foundational financing tool to cultivate resilient and thriving local and regional food systems.
SSBCI Learning Series - Promoting Success: Best Practices for Highlighting SSBCI Programs
March 12, 2024 - 2:00 PM - 4:00 PM Eastern
SSBCI is routinely heralded as the "most important small business program you've never heard of." In this session, speakers will discuss the importance of highlighting success and provide best practices for demonstrating the economic benefits of SSBCI programs.
CDFA // BNY Mellon Development Finance Webcast Series: The Re-emergence of Bond Banks
March 19, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will discuss the importance of bond banks, explore their roles, and focus on how they help communities move forward.
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Job & RFP Postings |
The City of Norfolk - Housing Finance Specialist
The City of Norfolk is seeking a Housing Finance Specialist. The Housing Finance Specialist will plan, develop, analyze, and prepare studies and research projects related to housing and review housing financial models and prepare recommendations for the Department leadership. The incumbent will provide sufficient detail to support departmental long-term planning, problem-solving, policy and program development and management action around neighborhood revitalization and affordable housing.
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This Week's Headlines |
Pawnee Nation in Oklahoma Breaks Ground on Behavioral Health Facility
Oklahoma Farm Report | Aug. 3 | Rural Development | Tribal Finance | U.S. Dept. of Agriculture (USDA)
U.S. HUD Approves $298M Disaster Recovery Grant for Eastern Kentucky
Kentucky Lantern | Feb. 21 | Access to Capital | Community Development | Disaster Recovery & Relief | Federal | Rural Development | U.S. Dept. of Housing & Urban Development (HUD) | COVID-19 | HUD Community Development Block Grant (CDBG) | HUD Disaster Recovery Assistance Program
Wisconsin Announces $16M in Community Development Block Grant Housing Awards
WEAU 13 News | Feb. 21 | Access to Capital | Development Finance Toolbox | Federal | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD) | HUD Community Development Block Grant (CDBG)
Chicago, IL Mayor Pitches Borrowing $1.25B for Housing and Development
WBEZ | Feb. 20 | Bond Finance | Community Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Clean Ethanol Program Receives $25M Investment from USDA
CStoreDecisions | Feb. 20 | Energy Finance | Rural Development | Tax Credits | U.S. Dept. of Agriculture (USDA)
Illinois Farm Bureau Tracks Potential of Future Alternative Fuel Tax Credits
Advantage News | Feb. 20 | Agriculture Finance | Energy Finance | Tax Credits
Lorena, TX School District Approves $38.9M Bond
NBC 6 KCEN | Feb. 20 | Bond Finance
Nevada Secures $7M for Reno-Tahoe Airport's Terminal Expansion Project
U.S. Senator Jacky Rosen for Nevada | Feb. 20 | Access to Capital | Economic Development | Federal | Infrastructure Finance | U.S. Dept. of Transportation (DOT)
Schneider Electric Leverages Inflation Reduction Act for Clean Energy Leap in Texas
BNN Breaking | Feb. 20 | Energy Finance | Infrastructure Finance | Water Finance
SE Pennsylvania Transportation Authority Receives $317M for Railcar Replacement
The Keystone | Feb. 20 | Access to Capital | Development Finance Toolbox | Infrastructure Finance | Legislative | U.S. Dept. of Transportation (DOT) | Transportation
St. Paul, MN Commits Nearly $32M for Affordable Housing
Star Tribune | Feb. 20 | Community Development | Housing Finance | Redevelopment | Tax Increment Finance (TIF)
Blue Bonds for Water Conservation Projects Approaching Tipping Point
Business Insider | Feb. 18 | Bond Finance | Green Finance
Oregon Food Bank Receives $70K to Connect Farmers With Hunger Relief
bnn | Feb. 17 | Access to Capital | Agriculture Finance | Food Systems Finance | Social Finance | U.S. Dept. of Agriculture (USDA)
Jackson Park TIF District Expands in Seymour, IN
Seymour Tribune | Feb. 16 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Louisiana Bond Commission Approves $2B for I-10 Bridge in Lake Charles
New Orleans City Business | Feb. 16 | Access to Capital | Bond Finance | Infrastructure Finance | Transportation
New Mexico Geothermal Bill Includes RLF for Private Entities
Think Geoenergy | Feb. 16 | Energy Finance | Green Finance | Revolving Loan Funds (RLFs)
U.S. Interior Invests $10M for Irrigation Projects, Power Utilities Serving Tribal Communities
U.S. Department of the Interior | Feb. 16 | Access to Capital | Energy Finance | Legislative | Rural Development | Tribal Finance
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National Sponsor Spotlight |
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KeyBanc Capital Markets
KeyBanc Capital Markets, headquartered in Cleveland, Ohio, is a full-service investment banking firm serving issuers of tax-exempt debt for over 40 years. The Public Finance Municipal Banking Group operating out of offices in Cleveland, Chicago, New...
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Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 500 lawyers with offices from coast to coast. Their firm serves local, regional, and national clients in a practice that spans a wide range of disciplines. They encourage their attorneys to take...
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McGuireWoods
With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP uses client-focused teams to serve public, private, government, and nonprofit clients from virtually every area of the law. To complement their services, they offer...
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Partner Spotlight |
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The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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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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New Members |
Momentus Securities - New York, NY
PA CDFI Network - Philadelphia, PA
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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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