NY Governor Andrew M. Cuomo has launched Round VII of the Regional Economic Development Council initiative, officially kicking off the annual competition for more than $800 million in state economic development resources.

CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

A spending plan of $187,000 that was recently approved by the Borough Council – the first budget the Special Improvement District, a public-private partnership created to improve the local business climate.

It took nearly two years, but Gov. Andrew M. Cuomo reached an agreement with the New York State Legislature to put back together a long-running affordable housing program, known as 421-a, that gives developers a city tax break in return for building lower-price rental units.

Over the last four years, the New York State and federal rehabilitation tax credit program has spurred $3 billion of investment in historic commercial properties. According to Gov. Andrew Cuomo, New York State led the nation in the number of completed historic building revitalization projects using the tax credits.

The extension of a tax credit program that the state's film and television industry says is crucial to its growth and survival—and which critics call a government giveaway—was included in the budget package that Albany passed Sunday. Though the governor has yet to sign the bill, the program is all but certain to go ahead.

Three development entities came together to create a nine-site development known as Essex Crossing, which includes 1.9 million square feet of housing, retail, and community service space. New markets tax credits and low income housing tax credits were both used to finance the development.

A project can receive a 20 percent tax credit based on the income a property generates. But the property must be on — or in the process of being included on — the New York State and National Registers of Historic Places. A total of $3 billion has been invested, thanks to the program that provides additional incentives alongside the federal tax credit program.

The New York Senate approved legislation co-sponsored by Sen. Tom O'Mara, R-58 of Big Flats, and Sen. Pam Helming, R-54 of Canandaigua, that would substantially increase the state's current Farm Workforce Retention Credit.

This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

The Intro Food Systems Finance WebCourse examines the development finance programs that sustain a local food system and how investments in that system can drive economic development on a broader scale. Topics covered include federal, state, and local sources of capital, stakeholders involved in the financing process, and case study examples that showcase the variety of financing programs.

Join the CDFA New York/New Jersey Financing Roundtable for a special one-day conference hosted at the offices of BNY Mellon in New York City. This event will feature a number of economic development finance experts from around the states discussing development finance tools, authorities, resources and approaches, and how these can affect the New York and New Jersey economies going forward.

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