CDFA is delighted to congratulate Steve Bamford, Executive Director of the Allentown Neighborhood Improvement Zone Development Authority in Allentown, PA, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Mr. Bamford joins the ranks of fellow graduates who are recognized as the most qualified leaders in the development finance industry.

The BDA is joining forces with the Council of Development Finance Agencies in support of the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA). The bill, sponsored by Reps. Stephanie Murphy (D-FL) and Darin LaHood (R-IL), would modernize the Internal Revenue Code as it relates to small issue bonds, specifically the private activity bond rules for first-time farmers and manufacturing bonds.

The SBA has reopened its Economic Injury Disaster Loan program to all small businesses. The reopening comes more than a month after the SBA quietly closed the program to new applicants, except for agriculture-related companies. The closure sparked a backlash from business groups and lawmakers.

The Federal Reserve Bank of New York today announced that the Secondary Market Corporate Credit Facility (SMCCF) will begin buying corporate bonds on June 16. The New York Fed also released additional Frequently Asked Questions regarding the purchase strategy for these eligible assets.

The credit quality of some US public finance issuers decreased in May largely driven by the direct and indirect effects of the coronavirus-induced economic slowdown. Still, downgrades accounted for less than 20% of the public finance sector's rating actions, indicating the pandemic is not having a widespread effect on issuers' credit profiles.

Louisiana's House of Representatives approved two bills designed to help retailers, restaurants, and hotels recover from the coronavirus pandemic by making them eligible for certain tax incentive programs. H.B. 13 would allow retailers, restaurants, and hotels to participate in the Enterprise Zone incentive. H.B. 19 offers to make those industries eligible for the state's Quality Jobs Program.

Washington state's new Commercial Property Assessed Clean Energy and Resiliency (C-PACER) program aims to address the significant needs for property owners to finance energy efficiency upgrades, renewable energy improvements, stormwater management, water conservation, and resiliency retrofits to address vulnerabilities to earthquakes and other natural disasters.

Capital Metro's board and the Austin City Council both gave unanimous approval to a $9.8 billion transit plan that would build three light rail lines throughout Austin. The plan, called Project Connect, likely will be put to voters this November in the form of a tax rate election. The Orange Line resembles what many critics of the 2014 rail bond election called for leading up to that bond proposition.

CDFA Federal Financing Webinar Series: Recovery Resources from the USDA
Friday, June 19, 2020 - 1:00 - 3:00 PM Eastern

CDFA-ARI Rural Finance Webinar Series: Access to Capital and Community Facilities
Wednesday, July 8, 2020 - 1:00 PM - 2:30 PM Central

CDFA-PFM Capital Markets Webinar Series: What Worries Your Municipal Advisor
July 9, 2020 - 2:00 - 3:30 PM Eastern

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Despite being viewed primarily as an economic development tool in low-income communities—that is, positioning the local economy on a higher growth trajectory—many proponents have suggested that OZs also have a community development purpose of helping people in poverty to improve their local context and lead healthy, productive lives.

The Opportunity Zones tax incentive, created by the Tax Cuts and Jobs Act of 2017, was designed to spur investment in low-income and undercapitalized communities. The experiences of investors, developers, government officials, and business representatives show how the incentive is playing out nationally and locally in Cuyahoga County, Ohio.

This document from the International Capital Market Association provides an overview for green bond market participants to consider when they are assessing the relevance, strengths, and weaknesses of various sustainability standards or labels as a suitable reference for assessing green eligibility.

The Organic Agriculture Revitalization Strategy (OARS) builds upon the basic insight of this emerging research – that certified organic agriculture can provide not only environmental benefits but also socio-economic benefits, revitalizing rural landscapes and communities and building community health and wealth together.

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