Technical Assistance


CDFA Tax Credits Finance Update - February 22, 2022

Having trouble viewing this newsletter? View it online.
Tax Credits Finance Update
February 22, 2022
View Archives
Tax Credits Finance Update


Ryan Acquires Leading Firm in United States Dedicated to Historic Tax Credits, MacRostie Historic Advisors
Ryan, a leading global tax services and software provider, has announced the acquisition of MacRostie Historic Advisors, LLC, one of the largest and most successful firms in the United States dedicated to historic tax credits. This strategic acquisition will further strengthen Ryan's expertise in HTC consulting and expand the service offerings in the Firm's Credits and Incentives and Property Tax practices.

Ohio Senate Bill 225 Doubling Historic and Opportunity Zone Incentives Heads to House
Ohio historic preservation and economic development projects may soon receive a large temporary boost from the Ohio General Assembly. Recently passed by the Ohio Senate and now under consideration in the Ohio House, Ohio Senate Bill 225 would double both the Ohio Historic Preservation Tax Credit and Opportunity Zone Tax Credit caps.

Historic Affordable Community in Oakland, CA Lands $20M Refinancing
Adcock Joyner Preservation secured $13 million in debt financing and $7.2 million in equity financing for the renovation and redevelopment of Adcock Joyner Apartments, a 50-unit mixed-use affordable housing property in downtown Oakland, California. Merchants Capital provided the financing, which will fund the development through the 4 percent LIHTC program.

Fresno, CA is Investing $12M to Create More Affordable Housing
The city of Fresno is scheduled to invest $6 million in two affordable housing projects, upon approval of the city council this Thursday. This is on top of $6 million approved last week for a development in southeast Fresno. The city's involvement is making loan guarantees to help enhance applications for a state Low-Income Housing Tax Credit.

Hydrogen Tax Credits Could Help Developers Secure Project Financing
Hydrogen tax credits proposed within the Biden administration's Build Back Better Act would not only help bring down the cost of clean hydrogen, the credits themselves could catalyze hydrogen projects by helping developers lock-in long-term financing, energy financing experts say. The credits have been widely lauded as something that could unleash the hydrogen industry in the US, especially the prospect of the production tax credit.

Two Missouri Bills Would Offer Incentives for Grocery Stores, Urban Farms
Sen. Barbara Washington, D-Kansas City, is sponsoring legislation meant to offer up to $5,000 in incentives to establish urban farms. Sen. Doug Beck, D-St. Louis County, is sponsoring legislation to create a tax credit for grocery stores that open in food deserts.

Getting Ready: Federal Energy Tax Credits You Don't Want to Miss
Although many programs and incentives are managed at state level, there are significant, powerful federal energy programs. The Solar Investment Tax Credit is a tremendously successful federal policy that has helped solar energy grow nationally by 10,000% since 2006. The program has been extended until the end of 2023.

Low Income Housing Tax Credit - Another Win for the Aggregators
The Section 42 low-income housing tax credit (LIHTC) is the major way that the federal government promotes the creation and preservation of affordable housing. Every year each state gets credits based on population which are allocated by the state's designated agency. Projects typically have investor limited partners (sometimes just one). They are designed so that the lion's share of the credit goes to the investor LP. There may also be losses.

Upcoming Events
Intro Revolving Loan Fund WebCourse

CDFA Federal Financing Webinar Series: Capacity Building Programs from EDA and NIST
Tuesday, March 1, 2022 - 2:00 PM - 3:30 PM Eastern
This session of the Federal Financing Webinar Series will highlight the resources available at the Department of Commerce to support projects in communities of all sizes. Learning about these programs can help fund projects in your community such as investing in physical infrastructure, developing new small business access to capital tools, building scalable startups, and creating and retaining manufacturing jobs.

CDFA // BNY Mellon Development Finance Webcast Series: Capitalization Strategies & Funding from the American Rescue Plan
Tuesday, March 15, 2022 - 2:00 PM - 3:00 PM Eastern
The American Rescue Plan Act of 2021 created an unprecedented amount of capital to support investment in healthcare, agriculture, infrastructure, and more. Deploying ARPA dollars, especially from the State & Local Fiscal Recovery Fund, to the right projects and programs can provide investment and financing opportunities that will revolve in the community for decades. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will discuss capitalization strategies that communities can use to leverage federal funding to drive long-term private investment.

More Headlines

Nineteen Companies Received $36.2M in Refundable Tax Credits from Iowa
The Iowa Torch | Feb. 18 | Federal | Legislative | Tax Credits

LaSata Legislation Would Help New Farmers, Grow Michigan Agriculture
Sturgis Journal | Feb. 17 | Access to Capital | Agriculture Finance | Legislative | State Finance Program | Tax Credits

Plano, TX City Council Approves Two Affordable Housing Tax Credit Resolutions
Plano Star Courier | Feb. 17 | Housing Finance | Incentives | Tax Credits

New Rules for 2021 Taxes May Mean Bigger Refund for Young Workers, Retirees with Side Jobs
Detroit Free Press | Feb. 16 | Federal | Tax Credits | COVID-19

St. Cloud, FL Engages in Opportunity Zones
Osceola News Gazette | Feb. 12 | Opportunity Zones | Tax Credits

Governor Newsom Signs Package to Promote Innovation and Entrepreneurship in California
CA.GOV | Feb. 9 | Economic Development | Legislative | Tax Credits | COVID-19

Refundable State Earned Income Tax Credit in Pennsylvania Could Boost Working Families
GoErie | Feb. 9 | Local Finance Program | State Finance Program | Tax Credits

Georgia Senate OKs Tax Credits for Donations to Foster Care Programs
Georgia Health News | Feb. 8 | Legislative | Tax Credits

Buncombe County, NC Wants to Build 3K Units, Invest $62M, Use Tax Credits
Citizen Times | Feb. 7 | Incentives | Tax Credits

Proposals Regarding Bond Issue, Street Maintenance Presented in Hays City, KS
The Hays Daily News | Feb. 7 | Bond Finance | Education | Incentives | Infrastructure Finance | Tax Credits

Utah Tax Cut Bill Now Includes Targeted Tax Credits for Low-Income People
Kuer 90.1 | Feb. 4 | Legislative | Tax Credits

California Announces Tax-Exempt Debt Allocation for Affordable Housing Development
Orange County Breeze | Feb. 3 | Bond Finance | Housing Finance | Tax Credits

Colorado Advanced Industries Tax Credit
Colorado OEDIT | Jan. 31 | Rural Development | State Finance Program | Tax Credits

Making Rhode Island's Food System More Sustainable and Resilient
Eco RI News | Jan. 29 | Access to Capital | Agriculture Finance | Food Systems Finance | Revolving Loan Funds (RLFs) | Resiliency | Rural Development | Tax Credits

The Council of Development Finance Agencies (CDFA) 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 www.CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


Displaying 1 - 30 of 98

June 25, 2024
May 28, 2024
April 23, 2024
March 26, 2024
February 27, 2024
January 23, 2024
December 26, 2023
November 28, 2023
October 24, 2023
September 26, 2023
August 22, 2023
July 25, 2023
June 27, 2023
May 23, 2023
April 25, 2023
March 28, 2023
February 28, 2023
January 24, 2023
December 27, 2022
November 22, 2022
October 25, 2022
September 27, 2022
August 23, 2022
July 26, 2022
June 28, 2022
May 24, 2022
April 26, 2022
March 22, 2022
February 22, 2022
January 25, 2022

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor