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CDFA Illinois Financing Roundtable Newsletter - August 2017

CDFA Illinois Financing Roundtable Newsletter - August 2017
August 9, 2017
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CDFA Illinois Financing Roundtable Newsletter

Feature

Legal Problems a Potential for State Renewable Energy Incentives
The latest developments in federal courts indicate that state subsidies for renewable energy, including renewable-energy portfolio standards and mandated procurement programs, are safe from challenges, at least for now.

Teutopolis, IL Approves Second TIF District
Luke Easton projects the TIF to bring in $14.6 million over the life of the district to help fund various economic development projects. The lion's share at $6.5 million is budgeted for public works improvements, though as Easton later explained, of the five categories that make up the budget, money can be shifted across each.

Court Victories for NY, IL Nuclear Subsidies Are a Big Win for Renewables
Recent decisions in New York, Illinois and Connecticut are important because they're the first cases to be decided since the Hughes v. Talen ruling came out in April 2016. The eventual outcome of these cases, with appeals still pending, could prove critical for offshore wind and energy storage, but also to ensuring that existing state renewable portfolio standards across the country are safe.

Intersect Illinois Reveals Results of Study to Grow IL Business
CORE (Creating Opportunities for Retention and Expansion), a statewide coalition of economic development professionals designed to retain jobs and investments, and ensure existing businesses in Illinois remain economically viable, released the results from the first year study of over 600 businesses.

S&P Affirms IL BBB- Rating as IL Avoids "Junk" Status
Illinois avoided being saddled with a junk credit rating from S&P, which affirmed the state's BBB-minus rating, citing eased concerns over a possible liquidity crisis in the wake of the states budget enactment.

EDGE Tax Credit Not Missed by Many in IL
The Economic Development for a Growing Economy tax credit, known as EDGE, provided special tax incentives to certain businesses to encourage those companies to locate or expand in Illinois, but the program was criticized for not having enough checks and balances. Even Gov. Bruce Rauner said EDGE needed to be reformed.

Upcoming Events

CDFA Brownfields Financing Webinar: Hazardous to Healthy: Financing Solutions for Recovering Brownfields
August 31, 2017 - 2:00 - 3:30 PM Eastern
Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.

Illinois News

IL May Benefit from Foxconn Development Without Providing Incentives
Crain's Chicago Business | Jul. 27 | Economic Development

Fitch Spares IL of Credit Downgrade
Illinois Homepage | Jul. 18 | Bond Finance

Belleville, IL Approves $1.2M in TIF Money
Belleville News-Democrat | Jul. 17 | Tax Increment Finance (TIF)

Greater Egypt Regional Planning Commission Continues Success
EDA | Jul. 14 | Economic Development


Sponsors

State Partner

Illinois Department of Commerce & Economic Opportunity Illinois Finance Authority

Venue Sponsor

Seyfarth Shaw LLP

Principal Sponsor

Ehlers Katten Muchin Rosenman LLP

Premium Sponsor

Baker Tilly Virchow Krause Bryan Cave LLP First American Bank Ice Miller LLP KeyBanc Capital Markets MB Financial Bank, NA Peckham Guyton Albers & Viets, Inc. SB Friedman Development Advisors Taft, Stettinius & Hollister LLP

Supporting Sponsor

Illinois Tax Increment Association Jacob & Klein Ltd. Kane, McKenna & Associates, Inc Reyes Kurson

For information about sponsoring the CDFA Illinois 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
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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CDFA National Sponsors

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
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  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
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  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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