Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 25-26, 2023! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.
State Support Announced for 54 Historic Rehabilitation Projects in Ohio
Ohio Governor Mike DeWine and Lt. Governor Jon Husted announced state support for 54 rehabilitation projects that will restore 57 historic buildings across Ohio. The projects are expected to leverage approximately $1.01 billion in private investment. Three projects in Central Ohio were awarded funding. The restoration project, expected to cost $1,030,000, is receiving a total tax credit of $201,500.
The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2023 Federal Policy Conference on April 11-12 in Washington, D.C.! The conference will include sessions featuring tax credits - including one on Measuring the Impact of New Markets Tax Credits (NMTCs) which will discuss how NMTCs are imperative to invest in distressed communities. Join federal agency and development finance industry experts, and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!
Supportive Housing Project Breaks Ground in San Diego County, CA
A vacant lot is being transformed into an integrated supportive housing community for individuals experiencing or at risk of homelessness in Oceanside, California. A groundbreaking ceremony was recently held for the $27.3 million development.
Financing Secured for Briscoe, MA Redevelopment Project
The plan to redevelop the former Briscoe School building took a big step forward with the announcement Friday that the financing for the $55 million project has been secured. Harborlight Homes and Beacon Communities said they have closed on the financing, which marks the first time a Massachusetts affordable housing deal has received funding from the American Rescue Plan Act. The project received $3 million in ARPA funds.
Call for Proposals - CDFA Minority Capital Loan Guarantee Program
The CDFA Minority Capital Loan Guarantee Program is a 10-year, $18 million loan guarantee program, supported by the Robert Wood Johnson Foundation, to help development finance agencies in the United States deliver capital in a more equitable manner. CDFA is now accepting proposals from those interested in participating in the program. To be considered, download the Call for Proposals for submission criteria and register to attend the informational webinar on February 7 at 2 PM (Eastern).
Minnesota Governor Releases $4.1B Economic Budget
Minnesota Governor Tim Walz unveiled his proposed two-year, $4.1 billion economic budget. $30 million would go toward the Drive 5 Workforce Fund to help people get into high-growth job categories of technology, caring professions such as nursing, social work or teaching, education, manufacturing, and trades. The budget also addresses issues within the healthcare industry, like expanded training, mental health, and recruitment.
Great Southern Wood Announces $5.9M Expansion of Louisiana Facility
Great Southern Wood Preserving, the lumber processing company, announced a $5.9 million expansion of its Avoyelles Parish, Louisiana facility's remanufacturing division with the installation of four new production lines. The additional equipment will increase the facility's production capacity and allow for the manufacturing of components used in the oil field and for storm relief and mitigation.