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CDFA New York/New Jersey Financing Roundtable Newsletter - June 2014

CDFA New York/New Jersey Financing Roundtable Newsletter - June 2014
June 11, 2014
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CDFA New York/New Jersey Financing Roundtable Newsletter

Feature

Tax Increment Financing: Tweaking TIF for the 21st Century
This informative Urban Land Institute (ULI) piece, featuring CDFA President & CEO Toby Rittner and several CDFA members, explores the transformative use of tax increment finance across the country and the reemergence of this tool as key development driver post-recession. Overviews of Chicago, Atlanta and the California story demonstrate the evolving and comprehensive ability of TIF to drive economic development and community transformation.

Treasury Announces $3.5B in NMTC Awards
This Award Book provides an overview of the CDEs awarded in the 2013 round of New Markets Tax Credits from the CDFI Fund, including from New York and New Jersey: Chase New Markets Corp, Civic Builders, GS New Markets Fund, Local Initiatives Support Corp, Morgan Stanley New Markets, New Jersey Redevelopment Authority, and Primary Care Development Corp.

CDFA Announces Scholarship Program
Interested in attending an upcoming CDFA event? Check out our new CDFA Scholarship Program to see if you qualify for assistance in attending State Roundtables, the National Development Finance Summit, or CDFA Training Institute courses.

New Jersey Financial Ratings on CreditWatch
Standard & Poor's Rating Services has placed its ratings on NJ's general obligation (GO), appropriation-backed, and moral obligation debt on CreditWatch with negative implications, meaning that the state's financial situation may be deteriorating.

START-UP NY Starts Up – 12 Projects, $50M Investment, 400 Jobs
Economic Development HQ reports on the first wave of projects under the umbrella of the state's ambitious START-UP NY program, in which fledgling businesses can set up shop near universities and avoid state/local taxes of any kind.

Catskill Mountainkeeper Leverages RSF Seed Fund
RSF Social Finance highlights one of their Seed Fund grantees to demonstrate its far-reaching impact. Funds were put into a capital access loan program for new farmers and veteran-owned businesses.

Upcoming Events

2014 CDFA New York/New Jersey Financing Roundtable Conference
September 16 - New York, NY
Join CDFA for the New York/New Jersey Financing Roundtable Conference on September 16, 2014 as we focus on "Reinvestment, Redevelopment and Revitalization in New York and New Jersey." This one-day event will feature a number of economic development finance experts and leaders from both states as they discuss the development finance tools and resources that foster proactive investment in the region's assets and accelerate economic growth.

New York/New Jersey News

NJ City College Gets $500K for Hudson Startups
The Record | Jun. 6 | Access to Capital | Innovation Finance | U.S. Economic Development Administration (EDA)

Advocates Rally for Brownfield Tax Credits
The Buffalo News | Jun. 5 | Brownfield Financing | Redevelopment | State Finance Program | Tax Credits

New York Offers $34M for Net Zero Energy Homes
Glens Falls Post-Star | Jun. 3 | Energy Finance | Green Finance | State Finance Program

Buffalo Building Re-Use Project Awards Loans
The Buffalo News | Jun. 2 | Access to Capital | Community Development | Local Finance Program | Revolving Loan Funds (RLFs)

Five Bergen Businesses Get EDA Storm Grants
NJ Biz | Jun. 2 | Community Development | Disaster Recovery & Relief | State Finance Program

Fund Offers Microloans to Small Businesses in Rochester
Rochester Business Journal | Jun. 2 | Access to Capital | Innovation Finance | Local Finance Program | Revolving Loan Funds (RLFs)

Opinion: Arizona Economy Killing NY
AZ Central | May. 27 | Economic Development | State Finance Program

Why NJ's Bond Rating was Downgraded and Why it Matters
NJ Spotlight | May. 22 | Bond Finance | State Finance Program

Rochester Scientists Generate State Funding for Clean Energy
Democrat & Chronicle | May. 22 | Energy Finance | Innovation Finance | State Finance Program

NY Comptroller Reports on Tax Incentives and Job Creation
The Legislative Gazette | May. 21 | Economic Development | State Finance Program | Tax Abatements

St. Lawrence County Agrees to Energy-Saving Project Bond
Watertown Daily Times | May. 21 | Bond Finance | Energy Finance | Green Finance | Local Finance Program

NY-Sun Funding Available
Empire State News | May. 21 | Energy Finance | Green Finance | State Finance Program

NJEDA Awards Millions in Incentives to Support NJ Businesses
New Jersey.com | May. 20 | Access to Capital | Member News | State Finance Program

NJEDA Loan May Revive Restaurant Wrecked by Sandy
The Republic | May. 20 | Access to Capital | Disaster Recovery & Relief | Member News | State Finance Program

Moody's Downgrades New Jersey's Bond Rating
The Trentonian | May. 16 | Bond Finance | State Finance Program

Albany County Gets Approval for Land Bank
Times Union | May. 16 | Community Development | Local Finance Program | Member News | Redevelopment | State Finance Program | Urban Development

Incentives Watch: Tax Credit Highlights from NY's 2014-2015 Budget
Bloomberg | May. 15 | State Finance Program | Tax Credits

Flemington Ready to Plan for Downtown Revitalization
Asbury Park Press | May. 15 | Innovation Finance | Redevelopment | Tax Increment Finance (TIF) | Urban Development

BIDs Making a Greater New York City
Real Estate Weekly | May. 15 | Access to Capital | Economic Development | Local Finance Program | Tax Increment Finance (TIF)


New Additions to the Online Resource Database

Small Towns, Big Ideas: Case Studies in Economic Development
Access to Capital | Economic Development | Local Finance Program | Public-Private Partnership (P3) Financing | Redevelopment | Rural Development
The North Carolina Rural Economic Development Center released this report to help small towns create new economic opportunities, learn about successful revitalization strategies, and explore alternative project financing approaches.

Brownfields Redevelopment Tax Incentives for Preservation Projects
Brownfield Financing | Redevelopment | Tax Credits | U.S. Dept. of Housing & Urban Affairs (HUD) | U.S. Environmental Protection Agency (EPA) | Federal
The National Trust for Historic Preservation published an article by Evans Paull that explores tax incentives for brownfields redevelopment and how these incentives can be paired with rehabilitation projects.

Improving Infrastructure Through Public Private Partnerships
Infrastructure Finance | Local Finance Program | Public-Private Partnership (P3) Financing | State Finance Program | Federal
The Eno Center for Transportation released this report with policy recommendations for making public-private partnerships (P3) an effective means of delivering public infrastructure from the federal and local level.

SSBCI Venture Capital Program Best Practices
Access to Capital | Economic Development | Innovation Finance | Recommended Practices | State Finance Program | U.S. Dept. of Treasury | Federal
This guidebook from SSBCI offers best practices for State Venture Capital Programs to stimulate and support private investment over time. Included are recommendations for program design and implementation.


Sponsors

Venue Sponsor

BNY Mellon

Annual Roundtable Sponsor

Hawkins Delafield & Wood LLP New Jersey Economic Development Authority Squire Patton Boggs Stern Brothers & Co. United Fund Advisors

Conference Premium Sponsor

HR&A Advisors Windels Marx Lane & Mittendorf, LLP

Conference Supporting Sponsor

Think Forward Financial, LLC

For information about sponsoring the CDFA New York/New Jersey Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


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
85 E. Gay Street, Suite 700
Columbus, OH 43215
(614) 224-1300
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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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