Development Finance Review Weekly - December 7, 2017
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Feature |
Preserve Private Activity Bonds (PABs) Now!!
House & Senate conferees will decide the fate of Private Activity Bonds this week. CDFA needs all stakeholder to get engaged. Contact Republican conferees today and ask them to #PreservePABs!!
Future of PABs Will Be Decided in Conference
The Senate's passage of its tax bill by a 51-49 vote leaves the fate of private activity bonds, which would be spared in the Senate bill but killed in the House measure, hanging in the balance.
Jefferson City, MO Approves Axium Plastics Bonds
Axium Plastics will receive a 75% personal property tax abatement for equipment purchases for 7 years, and a 75% real property tax abatement on real estate occupied by the project for 15 years. The project will provide approximately $26 million in capital investment and create a minimum of 70 jobs.
Disaster Bonds Can Support Carbon Capture Projects
The 1986 tax bill allowed states and municipalities to issue PABs for carbon-capture projects under special circumstances — such as following disasters. Unfortunately, all private activity bonds are on the chopping block as the Tax Cuts and Jobs Act works its way through Congress.
Latest Round of OH State Tax Credits to Spur $477M in Investments
Governor John R. Kasich has announced the approval of assistance for 15 projects set to create 2,338 new jobs and retain 1,857 jobs statewide. Collectively, the projects are expected to result in more than $107 million in new payroll, and spur more than $477 million in investments across Ohio.
Florida First Capital Tops Statewide SBA 504 Loan Production
Florida First Capital is recently announced that it has earned the top lender position for Small Business Administration (SBA) 504 loan production for the 2017 fiscal year in both number of loans and dollar totals among all Certified Development Companies in Florida.
Ithaca Affordable Housing Project Support by State Funded LIHTC
The Hancock Street project received over $1.5 million in LIHTC, which are estimated to generate over $13.3 million in equity, plus an additional $2.5 million from Middle Income Housing Program and Community Investment Fund dollars.
The Federal RRIF Loan Program
This report by Richard Sherman of The Seneca Group LLC provides an overview of the federal Railroad Rehabilitation & Improvement Financing (RRIF) loan program. The document reviews the purpose of and application process for the program and also provides several case studies of past projects.
EDA Releases Final Rule Updates for RLF Program
EDA has released their final rule in response to the 103 comments received on the proposed rules from November, 2016. The new rules will go into effect on January 2, 2018.
EDA Releases New Guidelines on Risk Analysis System for RLF Grantees
EDA has released a notice of proposed performance measures and request for comments. This document explains the performance measures in detail. Comments will be accepted through the Federal Register for document 2017-25276 until January 2, 2018.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Commentary: Senate Bill would Stymie Infrastructure Investments
Steve Benjamin, Mayor of Columbia, SC and Chair of the Municipal Bonds for America Coalition, argues that the elimination of PABs, NMTCs, HTCs, and other tools would undermine community and economic development efforts nationally
Oklahoma Joins Rush Hour in the Muni Primary with Toll Bond Deal
The Oklahoma Turnpike Authority is joining the year-end rush to market Wednesday with $410 million of toll revenue bonds, including what may well be the authority's last advance refunding. Included in the issue are $94.2 million of advance refunding bonds.
Brady Open to Keeping PABs, Limiting Their Uses
House Ways and Means Committee Chairman Kevin Brady said that he might agree to preserve private activity bonds, while pushing for limits on their uses in upcoming negotiations over a final tax bill with the Senate. CDFA's Tim Fisher is quoted in the piece.
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.
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Upcoming Webcasts |
CDFA // BNY Mellon Webcast Series: Crowdfunding Small Business Development
December 19, 2017 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, our expert speakers will discuss the basics of crowdfunding, provide legislative updates, and even provide examples of successful programs from around the nation.
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This Week's Headlines |
Affordable Housing Developers and Banks Push to Close Bond Deals
Affordable Housing Finance | Dec. 6 | Bond Finance | Community Development
Georgetown Settles on Ratio for Repaying Revenue Bonds for Utility Projects
South Strand News | Dec. 6 | Bond Finance | Infrastructure Finance
Business Oregon Delivers Five Year Plan
Oregon Business Report | Dec. 5 | Economic Development
Tax Overhaul Could Chill US Affordable Housing Construction
U.S. News | Dec. 5 | Bond Finance | Community Development
$1.7M in State Low-Interest Loans Will Support Two Bucks County, PA Manufacturers
The Intelligencer | Dec. 5 | Access to Capital
New Hangar, More Jobs in the Works for This Aviation Service Company
The Wichita Eagle | Dec. 5 | Bond Finance | Infrastructure Finance
RLF Key to Janesville, WI's Downtown Revitalization Efforts
GazetteXtra | Dec. 5 | Revolving Loan Funds (RLFs) | Urban Development
Baxter, MN Agrees to Join United Fund to Better Leverage RLF Dollars
Brainerd Dispatch | Dec. 5 | Revolving Loan Funds (RLFs)
City of Fortuna, CA, Refinances $17M in Bonds for Water Infrastructure
Redheaded Blackbelt | Dec. 5 | Bond Finance | Water Finance | Infrastructure Finance
Northwestern Memorial Healthcare Issuing Revenue Bonds for Replacement of Hospital
MuniNet Guide | Dec. 4 | Bond Finance
$200K Loan Approved for Downtown Aurora, IL Building
Daily Herald | Dec. 4 | Revolving Loan Funds (RLFs)
Brownfield RLF Will be Used to Support the Old Reid Hospital Redevelopment in IN
Pal-Item | Dec. 4 | Revolving Loan Funds (RLFs)
TIF an Option for Tradepoint Atlantic in Baltimore, MD
The Baltimore Sun | Dec. 4 | Bond Finance | Infrastructure Finance | Legislative | Tax Increment Finance (TIF) | Water Finance
Company Seeks Incentives Would Bring 300 Jobs to Iredell, NC
Statesville Record & Landmark | Dec. 4 | Economic Development | Incentives
SBA 504 Loan Helps Promote Local Seafood Farming in FL
Florida First Capital Finance Corporation | Dec. 4 | Food Systems Finance | U.S. Small Business Administration (SBA)
Tax Reform Provisions Have Local Govt's Wary
Crain's Cleveland Business | Dec. 4 | Bond Finance | Legislative
$500K Loan From Erie, PA RLF Supports New U-Haul Complex
GoErie | Dec. 2 | Redevelopment | Revolving Loan Funds (RLFs)
Transformative Ferris Wheel Development in Flint, MI Wins National Award
MEDC | Dec. 1 | Community Development | Public-Private Partnership (P3) Financing
House Tax Bill Threatens Affordable Housing
Bloomberg | Dec. 1 | Bond Finance | Legislative
Senate Tax Bill Could Add Anti-Stadium Bond Provision
Roll Call | Dec. 1 | Bond Finance | Legislative
The ObscureTax Break Behind Charlotte, NC's Biggest New Developments
The Charlotte Observer | Dec. 1 | Brownfield Financing
Brownfields Legislation Passes House Vote
E&E Daily | Dec. 1 | Brownfield Financing
New Britain, CT Lawmakers Announce $1.7 Million For Brownfields Cleanup
Hartford Courant | Dec. 1 | Brownfield Financing
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National Sponsor Spotlight |
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Alaska Industrial Development and Export Authority
AIDEA is a public corporation of the State of Alaska, created in 1967 by the Alaska Legislature "in the interests of promoting the health, security, and general welfare of all the people of the state, and a public purpose, to increase job...
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Bricker & Eckler LLP
Bricker & Eckler LLP, is one of Ohio's leading law firms, representing corporations, nonprofit organizations, government agencies, health care facilities, school districts, and municipalities, as well as individuals.
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Bryan Cave LLP
Bryan Cave LLP is a leading business and litigation firm with global reach, a strong reputation and a long history of success. Their client base includes businesses, financial institutions and not-for-profit organizations, government entities and...
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Partner Spotlight |
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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...
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CDFA Bookstore |
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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 intiative that supports entrepreneurship, business investment and job creation.
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New Members |
City of Broadview Heights - Broadview Heights, OH
Invest Atlanta - Atlanta, GA
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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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