Reserve your spot at the 2024 CDFA Federal Policy Conference on April 2-3, 2024, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and Grow America, will bring together leaders from the Biden administration, Congress, federal agencies, nonprofit organizations, and finance agencies who will discuss a range of federal legislative and policy topics. Interact with reps from the Department of the Treasury, the Small Business Administration, and the Environmental Protection Agency. Space is limited; act fast!

City Council approved $5 million in tax increment financing (TIF) toward a "gut rehab" of a 10,500-square-foot restaurant hub in Englewood. Pass the Peas, a casual soul food diner, and Ellie's Urban Grill, a sports and entertainment restaurant, will set up shop in the hub. The space will also have a pop-up kitchen for aspiring restaurateurs and three small offices. The total cost to complete the project is about $7.1 million, and the group has about $2 million in lender financing and $90,000 in equity.

Affordable housing developers can now benefit from 45L tax credits significantly expanded by the Inflation Reduction Act. The maximum tax credit has nearly tripled with it now being set at $5,000 per unit. Additionally, every multi-family building is now eligible regardless of height. Coordinating with Low-Income Housing Tax Credit (LIHTC) is much easier than before and developers have more of a runway to plan.

CDFA is excited to kick off the CDFA-Bricker Graydon Webinar Series: Transforming Communities with Targeted Tools with a first session focusing on Revitalizing Brownfields with TIFs and Special Assessments. Join expert speakers to learn how communities are diversifying their capital stacks by using TIF and special assessments to reimburse brownfield-related costs. Thank you to Bricker Graydon LLP for their generous support of this important webinar series. Register for free today!

The Ohio Department of Development's Community Development Financial Institution Loan Participation Program (CDFI LPP) recently provided $3 million in support to 81 Ohio businesses, helping them to build economic strength. CDFI Administrators operate the CDFI LPP, which is part of the State Small Business Credit Initiative (SSBCI) program and provides loans to socially and economically disadvantaged individuals, very small businesses, and businesses located in CDFI tracts.

PACE Loan Group has provided $8 million in C-PACE financing for The Washington, a 200-unit luxury apartment project to be built in Eau Claire, a city in western Wisconsin. The financing fills out the $41 million capital stack, which includes $20 million in debt and $13 million in equity. The three-building project will comprise a former managed care facility and two new ground-up buildings. The 10-acre site is located within two miles of the University of Wisconsin-Eau Claire and numerous healthcare facilities.

Atlanta's Urban Residential Finance Authority (Invest Atlanta) approved a $3 million bond that will go toward the construction of a new development in the Sweet Auburn neighborhood slated to include more than 50 affordable housing units. The development, Sweet Auburn Grande, will also incorporate and preserve the historic Butler Street YMCA building on Jesse Hill Jr. Drive.

The Nevada Facilities Fund (NVFF) is a $100 million revolving loan fund set up by the State Infrastructure Bank to provide long-term, low-cost facility financing for charter schools that serve under-resourced communities. NVFF was seeded with $15 million in public funding approved by the State Infrastructure Bank, $80 million from national donors through the Equitable Facilities Fund, and $5 million from local philanthropists.

The Job Review Specialist is responsible for the review and approval of energy audits and studies, energy conservation scope of work, construction specifications, cost review, work progression, and payment requests. The Job Review Specialist may be responsible for guiding a project through the stages of the funding process, including initial application, funding request evaluation, selection of a scope of work, construction, and closeout of the project. The energy retrofit work may be part of a more comprehensive substantial or moderate rehabilitation effort funded with additional State funds, or be a stand-alone energy retrofit project. Certain new construction projects are eligible for funding. Typical project size will be 1 to 5 units and may involve townhouse, low-rise, mid-rise, or high-rise construction.

The Program Associate is responsible for answering customer calls and resolving their concerns, reviewing and approving applications for Special Loans Housing Rehabilitation services. This position is responsible for ensuring client applications and requests are completed in a timely manner. With a good understanding of the State Department of Finance processes, this position will set up vendors, make requests for encumbrances, and process requests for payments. To ensure proper record keeping, this position will complete the task of the scanning and retention of loan packages.

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