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Development Finance Review Weekly - December 9, 2021

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Development Finance Review Weekly
December 9, 2021
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CDFA Development Finance Review Weekly

Spotlight

Announcing Infrastructure Finance Series Featuring Frost Brown Todd LLC
CDFA is honored to partner with Frost Brown Todd LLC and its affiliate FBT Project Finance Advisors LLC to present the Infrastructure Finance Series. View the series to learn about the characteristics of infrastructure, innovative tools for financing, and how the private sector impacts the landscape of infrastructure investment.

Features

Join CDFA for an Affordable Housing Finance Webinar on Dec. 21
Affordable housing has been a hot-button issue over the last few years. During CDFA's last webinar of the year, join us to hear experts discuss how Low-Income Housing Tax Credits and Private Activity Bonds play a role in deciding on the percentage of affordable housing in residential developments and how these decisions are made.

New National Electric Vehicle Programs Release Requests for Information
As part of the recently passed Infrastructure Investment and Jobs Act, two new electric vehicle programs will receive funds to address climate change by reducing carbon emissions. The National Electric Vehicle Program will provide funding to the States to strategically deploy EV charging infrastructure. In addition, the new law establishes a Charging and Fueling Infrastructure Program.

U.S. Treasury Awards $180.3M to Support CDFI Investment in Low-Income and Distressed Communities
The CDFI Fund awarded 265 Community Development Financial Institutions (CDFIs) $180.3 million in Financial Assistance awards. The awards, through the fiscal year (FY) 2021 round of the Community Development Financial Institutions Program and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities.

Indianapolis, IN Seeks to Fund Affordable Housing in Hillside Amid Gentrification Fears
The City of Indianapolis is embarking on a plan to fund affordable housing in the greater Martindale-Brightwood area, part of a preemptive effort to prevent gentrification from creeping further into the neighborhood. The parcels are designated brownfield sites, areas with potential contaminants that could restrict future use.

EPA Selects 39 Waterworks Projects to Apply for Billions in Financing
Local governments, agencies, and utility companies behind 39 major water and sewer projects in states across the U.S. can move ahead applying for billions of dollars in financing through a federal program that provides low-cost loans for waterworks infrastructure, the U.S. Environmental Protection Agency said.

Large Solar Projects in Southeast Ohio Spur Conflicting Feelings for Local Landowners
Ohio is experiencing a rush of interest from private energy developers looking to build utility-scale solar farms. These projects have raised concerns, often from surrounding landowners, about the impacts they will have on the natural landscape and property values. Another common concern is the extent to which local communities can weigh in on these projects and how seriously this input is considered.

USDA Invests $633M in Climate-Smart and Resilient Infrastructure for People in Rural Communities
The USDA is investing $633 million to reduce the impacts of climate change on rural communities. With the enactment of the Bipartisan Infrastructure Law and as part of the broader Build Back Better agenda, the Biden-Harris Administration has made investing in rural communities, creating good-paying jobs, and combatting the climate crisis top priorities.

Arlington, OR Awarded Bioeconomy Development Zone Designation
The Port of Portland, SkyNRG Americas, and Ecostrat are pleased to announce the issuance of a new Bioeconomy Development Opportunity Zone (BDO Zone) designation for Arlington, Oregon. The 'A' Rating for the biogenic portion of Municipal Solid Waste supply in Arlington's BDO Zone is expected to drive new market development for bioeconomy projects that can utilize the region's more than 2.7 million tons of MSW generated per year.

Upcoming Events

Fundamentals of Economic Development Finance Course
January 26-27, 2022 - Daily: 12:00 - 5:00 PM Eastern
CDFA's Fundamentals of Economic Development Finance Course is the foundation for all of CDFA's educational offerings. This course helps attendees understand the variety of development finance tools available, from bonds, tax credits and TIF, to federal financing programs, RLFs, and access to capital lending resources.

Intro Bond Finance Course
February 14-15, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Bond Finance WebCourse provides an in-depth look at governmental and qualified private activity bonds, with a focus on industrial development bonds (IDBs), 501(c)(3) non-profit bonds, exempt facility bonds, and other special bond programs authorized by the federal government.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

SEC Outlines Key Considerations for LIBOR-Linked Muni Securities
A Securities and Exchange Commission staff statement issued Tuesday reiterates disclosure and fiduciary obligations of issuers and underwriters in light of the forthcoming transition away from LIBOR. And while those obligations are important, some municipal industry practitioners point to an already existing trend away from Libor-linked transactions.

The Roads — and Bridges, Trains, and Tunnels — To Recovery
This article is part of The Bond Buyer's multi-platform series on the future of infrastructure: Build What Better? In this four-part series, The Bond Buyer looks at the changes this infrastructure moment could bring to landscapes and markets across the nation.

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.

Upcoming Webcasts

CDFA Federal Financing Webinar Series: Preserving Local Food Systems with Federal Financing
Tuesday, December 14, 2021 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Federal Financing Webinar Series, hear from experts at the USDA about their various programs available for rural food systems and agricultural producers to recover from the pandemic.

CDFA // BNY Mellon Development Finance Webcast Series: Affordable Housing Finance - Market Rate/Affordable/Low-Income
Tuesday, December 21, 2021 - 2:00 PM - 3:00 PM Eastern
Affordable Housing has been a hot button issue over the last few years with a focus on what percentage of affordable housing should comprise a residential development. This session will discuss how various tools such as Low Income Housing Tax Credits and Private Activity Bonds play a role in how these decisions are made.

Legislative & Federal Affairs

A look at the latest legislative news impacting the development finance industry:

Potential Flexibility in ARP Fiscal Recovery Funds Highlights Importance of Strategic Planning for State and Local Governments
The House is evaluating the State, Local, Tribal, and Territorial Fiscal Recovery, Infrastructure, and Disaster Relief Flexibility Act (Flexibility Act) legislation that the Senate passed on Oct. 19, 2021. If the House approves the current Flexibility Act, it would allow states, tribes, territories and localities to use certain COVID-19 relief funds for new categories of spending, including for natural disasters and new types of infrastructure projects.

Visit CDFA's Advocacy Center to view the latest legislative and federal updates, explore CDFA's Policy Agenda, track legislation relevant to development finance, get involved in CDFA-led initiatives, and more.

Job & RFP Postings

CDFA Now Hiring a Coordinator of Development
CDFA seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Development. The Development Coordinator is responsible for assisting with CDFA's membership and sponsorship efforts to ensure that organizations and sponsors receive the highest level of customer service.

CDFA Now Hiring a Coordinator of Programming
CDFA seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Programming. This position will be responsible for helping to coordinate the day-to-day administration of various CDFA programming events.

This Week's Headlines

Burlington, VT Voters Strongly Support Net Zero Energy Revenue Bond
Vermontbiz | Dec. 8 | Bond Finance | Energy Finance | Green Finance

EPA Announces $275M WIFIA Loan to Improve Water Infrastructure in New Orleans, LA
U.S. EPA | Dec. 8 | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance

Biden-Harris Administration Announces Reforms to Increase Equity for Underserved Small Business Owners
The White House | Dec. 6 | Access to Capital | Federal | Social Finance

DEC Plans Cleanup for Niagara Falls, NY Industrial Brownfield
The Buffalo News | Dec. 6 | Brownfield Financing | Economic Development | Redevelopment

Hamilton's Randle Reef Project Wins Brownfield Remediation Award
Global News | Dec. 6 | Brownfield Financing | International | Redevelopment | Water Finance

Infrastructure Bill Will Energize Pennsylvanians
Pittsburgh Post-Gazette | Dec. 6 | Brownfield Financing | Economic Development | Energy Finance | Innovation Finance

More Than $7M Already Committed to Brownfield Projects in Vermont
Vermontbiz | Dec. 6 | Brownfield Financing | Community Development

Nearly 750,000 Affordable Homes, Including LIHTC-financed Homes, At-Risk of Loss by 2031, but Build Back Better Act Would Preserve Many
Novogradac | Dec. 6 | Housing Finance | Legislative

New Development Coming to Flint, MI Brownfield
WJRT-TV | Dec. 6 | Brownfield Financing | Economic Development | Redevelopment

New Orleans, LA Sets Aside $2M for Gordon Plaza; Money Won't Help Relocate Residents
WWNO | Dec. 6 | Brownfield Financing | Community Development | Economic Development | Redevelopment | Urban Development

Spectrum Health Seeking $22M Brownfield Incentive for New Downtown Campus
MLive | Dec. 6 | Brownfield Financing | Economic Development | Healthcare | Redevelopment

State Announces Completion of Starbuck Island in Green Island
The Record | Dec. 6 | Brownfield Financing | Economic Development | Housing Finance | Infrastructure Finance | Redevelopment

$38M WHEFA Bond Financing Helps HOPE Christian Schools Refinance and Renovate in Milwaukee and Racine, WI
WHEFA | Dec. 6 | Bond Finance | Member News

Boise, ID to Access Federal Loan Program for Sewer Upgrades, Hoping for Savings for Residents
BoiseDev | Dec. 3 | Bond Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | U.S. Environmental Protection Agency (EPA) | Water Finance


New Additions to the Online Resource Database

USDA Drought Toolkit for Elected Officials, Public Officials, & Community Leaders
Disaster Recovery & Relief | Resiliency | Rural Development | Water Finance
The USDA Drought Tool Kit is specifically designed to assist officials and community leaders mitigate the impact of an ongoing drought. The Drought Tool Kit will help in accessing valuable resources to share with constituents in areas recovering from drought

2021 Picture of Affordable Housing Preservation Report
Community Development | Economic Development | Housing Finance | Infrastructure Finance | Social Finance | Tax Credits | Urban Development
Using data from the National Housing Preservation Database (NHPD), this report focuses on the challenge of preserving the federally assisted housing stock in the face of the national affordability crisis and chronic underfunding for housing programs.

State Tax Incentive Evaluations Database - National Conference of State Legislatures (NCSL)
Economic Development | Incentives | State Finance Program | Tax Credits
States across the country are starting to gather data and use evidence to systematically evaluate tax incentives. To illustrate what sort of evaluations states are conducting, NCSL created a database of state tax incentive evaluations. Evaluations published since the start of 2008 are included and more reports will be added over time.


National Sponsor Spotlight

FBT Project Finance Advisors LLC FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
Frost Brown Todd LLC Frost Brown Todd LLC
With over 500 lawyers across their eight-state footprint, Frost Brown Todd LLC offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
gener8tor gener8tor
gener8tor's turnkey platform for the creative economy connects startup founders, musicians, artists, investors, universities and corporations. The gener8tor platform includes pre-accelerators, accelerators, corporate programming, conferences and...

CDFA Bookstore

Cover thumbnail Advanced Tax Increment Finance Reference Guide 2nd Edition
The Advanced Tax Increment Finance Reference Guide builds upon CDFA's introductory offerings by exploring in-depth the complexities and transformative potential of tax increment financing.

New Members

LTC Midwest, LLC - Wilber, NE

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