CDFA is Hiring a New Vice President of Development Finance
The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.
Missouri is Implementing Tax Credits to Boost Urban Farming
Missouri announced a new tax credit program aimed at encouraging urban farming in cities throughout the state. Urban farmers in specific areas, including St. Louis, Rolla, and Hannibal, who spend up to $10,000 on establishing or improving an operation, can claim the credit and receive half of that back on taxes. The total tax credit pool for the initiative is $200,000.
CDFA Recognizes Tammi Alexander, the Newest Graduate of the DFCP Program
The Council of Development Finance Agencies (CDFA) is pleased to announce Tammi Alexander, Program Manager for the Washington State Department of Commerce, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Ms. Alexander joins fellow program graduates who have invested in their professional development and are recognized as emerging leaders in the development finance industry.
Hall Group Snags $46M Clean-Energy Financing for Palm Springs Hotel in California
Hall Group has scored a $46 million clean-energy financing deal for its new Hyatt hotel in Palm Springs. The Dallas-based investor secured the Commercial Property Assessed Clean Energy (C-PACE) debt for its Thompson Palm Springs Hotel at 414 North Palm Canyon Drive. The financing, Peachtree's largest C-PACE deal, will cover the cost of lighting, plumbing, wiring, and safeguards against potential earthquakes.
KeyBank Provides $90.7M for Affordable Housing Property Near Pittsburgh, PA
KeyBank has provided $90.7 million in financing for the acquisition and rehabilitation of Cambridge Square Apartments, a 204-unit affordable housing property in Monroeville, an eastern suburb of Pittsburgh. The financing consists of a $35 million construction loan, an $18 million Fannie Mae permanent loan, $15.7 million in Low-Income Housing Tax Credit (LIHTC) equity, and $22 million in tax-exempt bonds that were sold by KeyBanc Capital Markets.
Louisville, KY Brownfield Cleanup RLF to Support $1.4M in Environmental Remediation
Downtown Louisville is always changing, with eateries and attractions coming and going and new developments announced throughout the year. Many projects have been announced, including environmental remediation work totaling nearly $1.4 million (paid by the city via its Brownfield Cleanup Revolving Loan Fund). Workers have already started cleaning up lead dust, asbestos, and suspected lead-based paint in the nearly 120-year-old city-owned facility.
Iredell, NC to Consider $40M to Help Pay for High School Construction
The Iredell County, NC Board of Commissioners will consider a request from the Finance Department to begin the process of borrowing up to $40 million to help pay for construction of Weathers Creek High School. Voters approved a bond referendum in 2020 to provide $80 million for the Iredell-Statesville Schools project, along with additional funds for a new Mooresville Graded School District middle school and a new public safety center for Mitchell Community College.
Port of New Orleans, LA to Receive $73.8M for International Terminal Project
The Port of New Orleans will receive $73.8 million from the U.S. Department of Transportation to assist in building the Louisiana International Terminal project, which will provide an efficient gateway for the movement of cargo on the Mississippi River and the inland waterways of the United States. Funding was made possible by the Bipartisan Infrastructure Law.
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