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Development Finance Review Weekly - September 1, 2022

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Development Finance Review Weekly
September 1, 2022
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CDFA Development Finance Review Weekly

Features

Register Today for the CDFA Ohio Financing Roundtable!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!

First C-PACE Project in Anchorage, AK Closes
The Municipality of Anchorage has announced that the first Commercial Property Assessed Clean Energy (C-PACE) loan has closed between RIM Investments and Nuveen Green Capital for a $680,000 retrofit of a four-story building. This marks the city and state's first C-PACE financing, which is used to fund clean energy measures in commercial real estate projects.

$75M Invested in Rural West Virginia for Clean Water and Safe Wastewater Infrastructure
U.S. Department of Agriculture announced a $75M investment in critical infrastructure improvements that will ensure thousands of rural people in Greenbrier County, WV have clean drinking water and sanitary wastewater systems for years to come. The money will fund two projects to upgrade aging, failing water infrastructure.

New Cannabis Equity Law Sparks Hope for Would-Be Business Owners
Massachusetts' new cannabis equity law is drawing praise from advocates who say it will help ease barriers to entry for aspiring cannabis business owners from marginalized communities and foster more equity within the state's multi-billion dollar industry.

Equitable Facilities Fund Announces Fourth Bond Issuance to Support Educational Equity
Equitable School Revolving Fund (ESRF) announced that it has closed over $230 million of A-rated "Social Bonds" to support its mission to provide affordable facilities access to high-performing, high-impact public charter schools across the U.S.

Five Additional CPF Awards to Increase Access to Affordable, High-Speed Internet
the U.S. Department of the Treasury announced the approval of an additional group of five states under the American Rescue Plan's Coronavirus Capital Projects Fund (CPF): Connecticut, Indiana, Nebraska, North Dakota, and Arkansas. The CPF provides $10B to fund critical capital projects that enable work, education, and health monitoring in response to the public health emergency.

Cleveland, OH Mayor Proposes Spending $50M on ‘Housing for All'
The city of Cleveland unveiled $102.5 million in new COVID-19 stimulus funding, with nearly half of that going to "housing for all." The proposed housing policies include $35 million to incentivize public/private housing, $10 million in home repair funds and $5 million for a revolving loan pool for small and minority contractors to build in underserved neighborhoods.

Alaska Governor Signs Bills Supporting Farming, Meat Processing Industries
Alaska Governor Mike Dunleavy signed House Bill 298 (HB 298) establishing the Alaska Food Strategy Task Force with the goal of improving food security for the long-term benefit of Alaska's communities, economy, and environment. The bill establishes forgivable loan programs for farm development and improvement and meat processing facilities.

Upcoming Events
CDFA National Development Finance Summit
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Miami-Dade, FL Turns to P3 for Major Downtown Development
Miami-Dade County is looking to a long-term public private partnership to transform a swath of underused county-owned downtown Miami into a high-density new neighborhood complete with a transit terminal, schools and parks.

O'Hare's Billion Dollar Deal Lands Smoothly
Chicago O'Hare International Airport's $1.77 billion sale drew about 39 new investors to the table Tuesday as healthy demand for the upgraded bonds made for a soft landing despite market volatility and a flood of airport bonds this year.

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.

Upcoming Webcasts

CDFA Ohio Financing Roundtable
September 14, 2022 - Columbus, OH
During this special one-day conference, we will share knowledge of best practices within the state's development finance industry. This event will feature economic development finance experts from around the state discussing the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward.

CDFA // BNY Mellon Development Finance Webcast Series: Deploying Capital in Native American Communities
Tuesday, September 13, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of experts will share insights on how to preserve and grow tribal communities by unlocking development finance tools.

CDFA-Bricker Webinar Series: Democratization of Power
Tuesday, September 27, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will explore the potential utility cost savings and community benefits that municipalities can achieve by going solar. The presentation will provide examples of Ohio municipalities that have implemented solar projects and discuss these communities' path towards solar development. The panel will also discuss the potential issues and hurdles municipalities should considered when seeking to develop a solar project for their communities.

This Week's Headlines

Governor Hochul Announces $232M to Fund Water Infrastructure Projects Across New York
New York State | Sep. 1 | Infrastructure Finance | Water Finance

The $10B Reason to Be Excited About Rural Entrepreneurship
Vermont Business Magazine | Sep. 1 | Economic Development | Rural Development | State Small Business Credit Initiative (SSBCI)

Biden-Harris Administration Invests $75M to Provide Clean Drinking Water and Safe Wastewater Infrastructure in Rural West Virginia
USDA | Aug. 31 | Community Development | Federal | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance

Infrastructure Investment and Jobs Act: Department of Energy
JD Supra | Aug. 31 | Green Finance | Infrastructure Finance | U.S. Dept. of Energy (DOE)

New Ways to Finance Your Renewable Energy Projects Thanks to the U.S. Government
JD Supra | Aug. 31 | Energy Finance | Green Finance | Legislative

USDA Announces $21.9M Awarded to Further Strengthen Meat and Poultry Supply Chains
USDA | Aug. 31 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)

Oregon Gets $83.5M for Small Businesses
The World Link | Aug. 30 | Economic Development | State Finance Program | State Small Business Credit Initiative (SSBCI)

$120M Project Breaks Ground in Muskegon, MI
Wood-TV | Aug. 30 | Brownfield Financing | Economic Development | Redevelopment

Biden-Harris Administration Announces $425M to Expand State Clean Energy Programs
Energy.gov | Aug. 29 | Energy Finance | Green Finance | Infrastructure Finance | U.S. Dept. of Defense (DOD) | U.S. Dept. of Energy (DOE)

New Jersey Municipalities Eligible for Up to $50K Public Area Redevelopment Planning
ROI NJ | Aug. 29 | Access to Capital | Community Development | Economic Development | Redevelopment | Social Finance | Planning & Land Use

North Carolina Weatherization Funds Set to Nearly Double, Posing Challenge and Opportunity
Energy News Network | Aug. 29 | Energy Finance | Green Finance | Infrastructure Finance

One Pennsylvania Farm Raised $165K Using a Lending Platform for Sustainable Agriculture
Lancaster Farming | Aug. 29 | Access to Capital | Agriculture Finance | Crowdfunding | Food Systems Finance | Innovation Finance | Revolving Loan Funds (RLFs) | Resiliency

Solar Panels on Southwest Virginia Schools Signal a Diversifying Economy
The Appalachian Voice | Aug. 29 | Energy Finance | Green Finance

EPA Talks Brownfield Redevelopment in Tyler County, WV
News and Sentinel | Aug. 27 | Access to Capital | Brownfield Financing | Redevelopment

State Canalway Receives National Designation in Niagra, NY
Niagra Gazette | Aug. 27 | Access to Capital | Brownfield Financing | Economic Development | Redevelopment

Biden-Harris Administration Invests $65M in Clean Water, Roads, Trails Improvement
USDA | Aug. 26 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | Rural Development | Social Finance | U.S. Dept. of Agriculture (USDA) | Transportation | Legislative Activities | Case Studies

Troy, NY's Little Italy Marketplace Receives State Funding to Boost Redevelopment Effort
WAMC | Aug. 26 | Brownfield Financing | Economic Development | Redevelopment


National Sponsor Spotlight

BNY Mellon 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...
Bricker & Eckler LLP 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...
Wells Fargo Securities 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...

CDFA Bookstore

Cover thumbnail 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.

New Members

Brightbridge Inc - Chattanooga, TN

City of Wauwatosa - Wauwatosa, WI

Nor-Cal Financial Development Corporation - Oakland, CA

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

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon 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