Development Finance Review Weekly - February 29, 2024
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Features |
DFA of Summit County President Chris Burnham Retiring, Rachel Bridenstine Taking Over
Development Finance Authority (DFA) of Summit County President Chris Burnham announced that he's retiring at the end of 2024 as the first president of the Akron-based agency. In 2025, Rachel Bridenstine will take over as DFA's president to manage its coffers and 15-member team. Under Chris' leadership, DFA of Summit County has provided more than $882 million in financing for 341 projects in Ohio.
Economic Innovation Group Launches Distressed Communities Index
Economic Innovation Group's Distressed Communities Index (DCI) platform provides a neighborhood-level exploration of American economic well-being. The DCI includes several stories that illuminate how local economic conditions correlate with life expectancy, social connections, and more.
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!
DFA of Summit County Helping Greater Akron, OH
The Development Finance Authority (DFA) of Summit County has helped secure financing for hundreds of projects across Northeast Ohio, including the Amazon distribution center in Akron, the Hall of Fame Village project in Canton, and the Akron Civic Theatre. The authority and organizations that it staffs and manages have provided more than $882 million in financing for 341 projects in Ohio since 2000.
Gloucester, MA Manufacturer Gears Up for Growth With a $375K Loan
MassDevelopment has provided a $375,000 equipment loan, enhanced with an export guarantee, from the CARES Act Revolving Loan Fund to Fleet Machine Company Inc., an AS9100-certified advanced manufacturing company in Gloucester that specializes in precision machining for the aerospace and defense industries. The company expects to create three full-time jobs and two part-time jobs over the next three years.
Federation of American Scientists Calls to Exempt Affordable Housing from Volume Cap
Tax-exempt Private Activity Bonds (PABs) are one of the primary financial tools to build and preserve affordable housing as they generate as-of-right Low-Income Housing Tax Credits (LIHTC). However, the federal cap on those bonds creates a significant barrier to expanding the overall affordable housing supply. By exempting affordable housing from the state volume cap, we can build more housing in states that are fully utilizing their volume cap.
CDFA Strategic Planning Success for DFA of Summit County in 2010 and 2016
In 2016, the Council of Development Finance Agencies (CDFA) prepared a strategic plan on behalf of the Development Finance Authority (DFA) of Summit County. This strategic plan built on another innovative and action-oriented plan that CDFA developed in 2010 for DFA of Summit County, which provided direction and guidance for the Authority's success, growth, and impact in the community.
SSBCI Helping Maryland Generate $17B in Economic Impact
The Maryland Department of Housing and Community Development invested $2.2 billion overall in state programs in 2023 designed to create more affordable housing, revitalize communities, support small businesses, and increase broadband connectivity in Maryland. That investment generated $17 billion in economic impact and helped create the equivalent of nearly 24,000 full-time jobs. Part of that success is due in part to the Department beginning to deploy $198 million in State Small Business Credit Initiative (SSBCI) funds.
Join CDFA for the First Session of the 2024 SSBCI Learning Series
During the SSBCI Learning Series kick-off session, Promoting Success: Best Practices for Highlighting SSBCI Programs, we will discuss the importance of highlighting successes and provide best practices for demonstrating the economic benefits of SSBCI programs. Join us to learn how each transaction is beneficial to the small business and its community.
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Upcoming Events |
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Upcoming Webcasts |
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.
CDFA-TEDC Webinar: Creative Approaches and Strategies for Bond Financing
March 20, 2024 - 10:30 AM - 12:00 PM CT
During this installment of the CDFA-TEDC Webinar, speakers will introduce the different types of bonds relevant to economic development practitioners, explore the significant role these tools play in mobilizing capital, and how to best deploy this form of financing.
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Job & RFP Postings |
Finance New Orleans - Finance Manager
Finance New Orleans is seeking a Finance Manager to oversee all financial and accounting functions within the organization. This pivotal role involves ensuring precise financial reporting, establishing and managing the company's operating model, and offering strategic financial insights. The ideal candidate should be adept at getting into the details and possess a strong educational background in business, finance, or accounting, ideally holding an MBA or CPA certification. Relevant work experience in finance, public finance, accounting, or consulting is highly desirable.
Finance New Orleans - Multi-Family Program Director
Finance New Orleans is seeking a Multi-Family Program Director to serve as a member of the Programs team and is responsible for day-to-day program management of all multi-family products. This position reports to the Chief Programs Officer (CPO) and works in partnership with the CPO to establish and manage multi-family programming that meets FNO's strategic vision. The Multi-Family Programs team is responsible for the financing and ongoing management of the Agency's multi-family lending portfolio and subsidy programs which provide loans, credit enhancement, and tax abatements that facilitate the development, rehabilitation, and preservation of affordable housing projects.
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, 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 |
Dorchester County, SC and YMCA Reveal $12M Sports Complex Project
WCIV | Feb. 28 | Community Development | Redevelopment | Tax Increment Finance (TIF)
Salt Lake City, UT May Pay $900M to Fund Potential MLB Stadium, Increase Hotel Tax
Idaho Capital Sun | Feb. 28 | Economic Development | Redevelopment | Tax Increment Finance (TIF)
Commerce Invests $5M to Support Reconstruction of Arkansas Municipal Airport Terminal
U.S. Economic Development Administration | Feb. 27 | Access to Capital | Disaster Recovery & Relief | Federal | Infrastructure Finance | U.S. Economic Development Administration (EDA) | COVID-19 | Transportation
Kentucky School Districts Submit Plans for $55.4M Bond Issue for New Construction
Link NKY | Feb. 27 | Access to Capital | Bond Finance
Maine Invests $594K of SSBCI Funds in Molded Fiber Packaging Manufacturer
Portland Press Herald | Feb. 27 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury
Massachusetts Considering $4.1B Housing Bond Authorization Bill
Financial Post | Feb. 27 | Bond Finance | Housing Finance
Minnesota's West Central Initiatives RLF to Support Nature-Based Education in Fergus Falls
Fergus Now | Feb. 27 | Economic Development | Education | Infrastructure Finance | Revolving Loan Funds (RLFs)
New York Using SSBCI Funds to Participate in Initiative for Inclusive Entrepreneurship
Empire State Development | Feb. 27 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury
U.S. DOE Announces $366M for Rural and Remote Community Energy Security
U.S. Department of Energy | Feb. 27 | Access to Capital | Development Finance Toolbox | Energy Finance | Green Finance | Legislative | Rural Development | Tribal Finance | U.S. Dept. of Energy (DOE)
Washington County, TN Approves $750K in TIF Funding for Projects
Yahoo! News | Feb. 27 | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF)
Hawaii to Receive $50M for Water Infrastructure Upgrades
Spectrum News | Feb. 26 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
HUD and VA Award $14M to Help Homeless Veterans Find Permanent Housing
U.S. Department of Housing and Urban Development | Feb. 26 | Access to Capital | Community Development | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)
New Initiative to Help Farmers Reduce Costs With Underutilized Renewable Technologies
USDA | Feb. 26 | Access to Capital | Agriculture Finance | Energy Finance | Federal | Green Finance | U.S. Dept. of Agriculture (USDA)
Opportunity Finance Network Announces $10M Investment From Charles Schwab Bank
Opportunity Finance Network | Feb. 26 | Access to Capital | Community Development | Rural Development | Tribal Finance | Urban Development
Preston Hollow Community Capital Closes $205M Financing Backed by Bond Collateral Pool
Valdosta Daily Times | Feb. 26 | Access to Capital | Bond Finance | Social Finance
U.S. DOT to Deliver $21.6M to Birmingham, AL for Urban Trail, Multimodal Corridor
Alabama Political Reporter | Feb. 26 | Access to Capital | Community Development | Federal | Infrastructure Finance | U.S. Dept. of Transportation (DOT)
U.S. HUD and VA Award $14M to Help Homeless Veterans With Permanent Housing
U.S. Department of Housing and Urban Development | Feb. 26 | Federal | Housing Finance | U.S. Dept. of Housing & Urban Development (HUD)
Arizona Gets $10.3M in Federal Funding to Restore Ecosystem
KTAR News | Feb. 24 | Access to Capital | Federal | Green Finance | Resiliency | U.S. Dept. of Interior - National Park Services (NPS)
Maine Issues $5M Green Bond for Resilient and Sustainable Buildings
Impact Alpha | Feb. 24 | Access to Capital | Bond Finance | Green Finance
Pawnee Nation in Oklahoma Breaks Ground on Behavioral Health Facility
Oklahoma Farm Report | Aug. 3, 2023 | Rural Development | Tribal Finance | U.S. Dept. of Agriculture (USDA)
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National Sponsor Spotlight |
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MuniCap, Inc.
MuniCap, Inc. is a public finance consulting firm based in Columbia, Maryland that specializes in the public finance aspects of redevelopment. MuniCap is headquartered in Columbia, Maryland, with additional offices located in Dallas, Texas,...
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NW Financial Group, LLC
NW Financial Group LLC is the premier Financial Advisory / Municipal Underwriting firm in the Northeast whose experienced professionals provide unparalleled expert advice to States, Local Governments, and Authorities. The professionals that make up...
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PGAV Planners, LLC
PGAV is a global leader in planning, design, and development consultation to public, corporate, and institutional clients. For more than fifty years, PGAV has created unique approaches and solutions to community planning and development issues, and...
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CDFA Bookstore |
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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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