U.S. Secretary of Commerce Wilbur Ross has announced that 40 organizations from 28 states and two territories will receive $21 million to create and expand cluster-focused entrepreneurship and technology transfer programs. The funds will be deployed through the EDA RIS program.

The City of Detroit has sold $135 million in general obligation bonds, the first time in more than 20 years that Michigan's largest city has tapped the municipal bond market on the back of its own credit — and without the need for expensive layers of insurance for bondholders.

The U.S. EPA has released a new RFP and Application Guidelines for the FY 2019 Brownfields Multipurpose, Assessment, and Cleanup Grants (MAC Grants). Applications for these grants are due January 31st, 2019. These grants are offered by the EPA Brownfields Program and may be used to address sites contaminated by hazardous substances.

The Municipal Bonds for America Coalition, of which CDFA is a founding member, has released a letter congratulating Rep. Steve Stivers (R-OH) on becoming the new Co-Chair of the Municipal Finance Caucus. Rep. Stivers replaces the outgoing Republican Chair Randy Hultgren and joins current Democrat Co-Chair Dutch Ruppersberger (D-MD).

Opportunity Zones represent a breakthrough approach to community development. The program relies on an ingenious mechanism for spurring investment: Instead of tax credits or other traditional subsidies, investors are offered a temporary tax deferral for capital gains reinvested in designated opportunity zones.

Georgia has earmarked federal tax credits to provide 650 affordable rental homes in metro Atlanta and they are scheduled to ready for occupancy in late 2020, according to a statement from the Department of Community Affairs on the award of a total of $25 million statewide in federal Housing Tax Credits.

The Kresge Foundation has announced a $390,000 grant to Calvert Impact Capital that will support the Opportunity Zones Incubator, a technical assistance program for social impact entities that are interested in or exploring taking a Qualified Opportunity Fund to market.

The Port of Long Beach, California, is seeking a second Transportation Infrastructure Finance and Innovation Act loan to complete the $1.5 billion Gerald Desmond Bridge replacement. A $325 million TIFIA loan awarded in May 2014 was a key financing tool for the project. The port wants to borrow $175 million more through TIFIA.

With Democrats in control of the U.S. House of Representatives next year, transportation specialists and public finance officials see a glimmer of hope for a more sustainable bipartisan transportation funding measure.

In this joint CDFA – Responsible Finance (UK) webinar, you'll learn from financing experts the creative access to capital solutions that are being pursued in both the U.S. and U.K. to support small business development.

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