Development Finance Review Weekly - October 8, 2020
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Spotlight |
New CDFA White Paper Released! Reframe, Build, and Plan to Restore America's Local Food Systems
CDFA just released the sixth and final publication of the CDFA Food Finance White Paper Series, Advancing Local Food Systems Through Development Finance! Research on food systems finance and leadership with pilot projects has positioned CDFA to identify three key strategies for a comprehensive approach for restoring America's local food systems. Every organization, community, economic development agency, and small business working in the food sector should adopt the Reframe, Build, Plan approach to expand financing and drive capital into the local food system.
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Feature |
CDFA Congratulates Justin Powell, DFCP
The Council of Development Finance Agencies is honored to announce Justin Powell, Deputy Secretary for Finance and Administration with the South Carolina Department of Transportation, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. As a new graduate, Mr. Powell joins many others who have invested in their professional development and are prepared to tackle the complexities of the development finance industry.
President Trump Cuts Off Stimulus Relief Talks Until After Election, Upending Aid Prospects
Economic relief talks screeched to a halt Tuesday as President Trump ordered Treasury Secretary Steven Mnuchin, via a series of tweets, to stop negotiating with House Speaker Nancy Pelosi until after the election. Trump's surprising announcement stood in stark contrast with recommendations from Federal Reserve Chair Jerome H. Powell.
Center for Strategic Policy Innovation to Launch Clean Growth Incubator
The Center for Strategic Policy Innovation and Arizona State University's Laboratory for Energy And Power Solutions (LEAPS) will co-host a Rollout Event for the Clean Growth Incubator Template. The backbone of the Clean Growth Incubator is an advanced-level, 100-page, step-by-step urban planning guide, as well as a targeted 8-month webinar-enhanced training Platform, which begins early in 2021.
Opportunity Zone Rule Change Seeks to Entice Foreign Investors
The Internal Revenue Service is considering new rules pertaining to foreign investors' ability to defer capital gains in the Opportunity Zones program. The new regulations could be released in December, according to the White House Office of Management and Budget. The extent of the changes is unclear, but experts predict they will be geared toward giving foreign investors more clarity on their tax liabilities.
Colorado Lending Source Names Christopher Myers as New Chief Executive Officer
Colorado Lending Source has named Christopher Myers as the new Chief Executive Officer. As an accomplished executive, entrepreneur, and author, Christopher comes to the organization with over ten years of experience as the CEO of rapidly growing companies. In his role, he will oversee a diverse and dedicated staff helping the organization achieve long-term strategic goals in alignment with the mission to foster the economic growth of diverse small businesses.
Detroit, MI Announces $48M for Affordable Housing
The City of Detroit announced that it had raised $48 million to launch the Detroit Housing for the Future Fund, a public-private partnership that's meant to help achieve the city's goal of preserving 10,000 affordable housing units and building 2,000 new ones.
Fresno, CA CDFI Awarded $200K for Micro-Entrepreneurs
Fresno Community Development Financial Institution received a $200K award to be used for micro-entrepreneur lending in the Central Valley. The funding is part of $5.5M awarded nationally for the Program for Investment in Micro-Entrepreneurs (PRIME) to help nonprofit organizations assist low-income entrepreneurs to gain access to capital to establish and expand small businesses.
Global Green Bond Issuance Surpasses $200B So Far This Year
Green bonds worth more than $200 billion have been issued so far this year, according to research by Bloomberg New Energy Finance, taking the cumulative total since the securities were launched in 2007 to over $1 trillion. The $200 billion issued this year is 12% higher than the first nine months of last year, even though economies have been impacted by the coronavirus pandemic.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Trump Walks Away From States, Local Governments, Transit Agencies, Airports
The growing crisis of revenue shortfalls among states, local governments, transit agencies, and airports appears nearly certain to continue after President Trump called a halt to stimulus negotiations Tuesday. Trump promised passage of a stimulus package after his presumed re-election, but later in the evening offered to sign separate pieces of the larger package that the White House walked away from.
Will Remote Work Change Central Business Districts?
The open-ended work-from-home orders millions of Americans received from their employers, and the apparent success of that model to date, raises questions about the future commitment of corporations to basing their employees in cities or office buildings in general, and whether the work-from-home strategy can be a win-win situation.
High Court's Refusal to Hear Challenge of Brightline Train Project Allows PAB Use
The U.S. Supreme Court denied Indian River County, Florida's request for a writ of certiorari, ending a years-long legal battle by the county to stop construction of the privately owned Brightline passenger train project. The high court's order list, released Monday, denied nearly 1,000 requests for writs, including the county's, the $200,000 cost of which was paid by local residents and activists.
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 |
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Job & RFP Postings |
Purpose Built Communities Seeking New CEO
The team at Koya Leadership Partners and the Diversified Search Group is delighted to be leading the national search for the next CEO of Purpose Built Communities. We are particularly interested in successful leaders with experience in the private sector as well as executives of color.
Summit County Economic Development Director Job Opening
In overseeing the County's economic development functions, the Director will be responsible for leading a small, dedicated team of individuals in responding to the needs of existing small, medium, and large businesses in Summit County, while also working to attract new businesses to the County.
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This Week's Headlines |
Stand-Alone Airline Bill Under Discussion After Broader Coronavirus Aid Stalls
Roll Call | Oct. 7 | Disaster Recovery & Relief | Infrastructure Finance | Legislative | COVID-19
Nearly $4M Investment in High-Speed Broadband for Rural Indiana
U.S. Department of Agriculture | Oct. 6 | Infrastructure Finance | Rural Development | Broadband
Raise Green Launches Platform Allowing Anyone to Become a Solar Investor or Developer
Solar Magazine | Oct. 6 | Crowdfunding | Energy Finance | Green Finance | Resiliency
Rochester, NY Explores P3 for New, Expanded Library
Med City Beat | Oct. 6 | Community Development | Public-Private Partnership (P3) Financing | Social Finance | Tax Increment Finance (TIF)
$5.4M Deal Brings More Clean Energy to West Valley City, UT
PR Newswire | Oct. 6 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Public-Private Partnership (P3) Financing
$700M Bond Sale to Benefit North Carolina Dept. of Transportation Approved by NC Council of State
North State Journal | Oct. 6 | Bond Finance | Infrastructure Finance
Interest Rates Lowered for Lake Champlain-Lake George, NY Business Loan Program
The Post Star | Oct. 5 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Microenterprise & Microloans | COVID-19
NEF, Fifth Third Close Out $25M Opportunity Zones Fund to Expand Workforce and Low-Income Rental Housing
National Equity Fund | Oct. 5 | Housing Finance | Opportunity Zones | Opportunity Funds
Opportunity Zones Haven't Yet Seized Their Chance to Transform Cleveland and Other Cities
Crain's Cleveland Business | Oct. 5 | Opportunity Zones
Oswego, NY's Midtown Plaza Will Be Cleaned of Contamination Prior to Being Redeveloped
NNY 360 | Oct. 5 | Brownfield Financing
Racial Equity Firm Funding Grocery Store, Restaurant in Grand Rapids, MI
Grand Rapids Business Journal | Oct. 5 | Access to Capital | Local Finance Program | Social Finance | Microenterprise & Microloans | Entrepreneurial Financing
SBA Awards Economic & Community Development Institute $250K Grant
The Highland County Press | Oct. 5 | Access to Capital | Community Development | Social Finance | U.S. Small Business Administration (SBA) | Microenterprise & Microloans | Entrepreneurial Financing
U.S. Department of Commerce Invests $4M to Improve Water Infrastructure in Stevenson, WA Opportunity Zone
U.S. EDA | Oct. 5 | Opportunity Zones | U.S. Economic Development Administration (EDA) | Water Finance | Stormwater
$850K in COVID-19 Recovery Loans Available for Charleston, SC Small Businesses
News Radio 94.3 WSC | Oct. 5 | Access to Capital | Disaster Recovery & Relief | Local Finance Program | Revolving Loan Funds (RLFs) | Revolving Loan Funds (RLFs) | COVID-19
Jefferson-Chalmers Efforts May Offer Model for Neighborhood Turnaround
Crains Detroit Business | Oct. 4 | Brownfield Financing
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New Additions to the Online Resource Database |
CDFA Food Finance White Paper Series: Advancing Food Systems Through Development Finance
Access to Capital | Agriculture Finance | Bond Finance | CDFA Original Research | Economic Development | Food Systems Finance | Revolving Loan Funds (RLFs) | Tax Credits | Tax Increment Finance (TIF) | Brownfield Financing | Community Development | Housing Finance | Rural Development | Social Finance
This is the sixth and final white paper in a series examining the potential creation of a food systems asset class that supports the market growth of local and regional food systems. This paper presents three replicable strategies for restoring local food systems: reframe food systems development as infrastructure and economic development; build effective relationships and partnerships across the entire food system; and plan for strategic food system financing.
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National Sponsor Spotlight |
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private and institutional clients. Their mission is to...
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Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...
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Stifel Nicolaus
Stifel Nicolaus, founded in 1890, is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments saving millions of dollars for our public and...
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Partner Spotlight |
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PORTFOL by Philadelphia Industrial Development Corporation
The Philadelphia Industrial Development Corporation (PIDC) is Philadelphia's city-wide economic development corporation. Founded in 1958 as a non-profit, joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of...
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CDFA Bookstore |
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New Members |
NuLeaf Project - Portland, OR
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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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