Development Finance Review Weekly - May 16, 2024
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Features |
Don't Miss the First Session of the CDFA Equitable Lending Learning Series
This Learning Series will assist development finance professionals with incorporating equitable lending best practices to remove barriers to affordable capital for underserved borrowers. Join us on May 28 for insights on Strategic Partnerships for Sharing Financial Risk!
New York Announces Start of Construction on Brooklyn Affordable Housing Development
State financing for the Marcus Garvey Extension Phase 2 includes $20 million in permanent tax-exempt bonds, $116 million in Federal and State Low-Income Housing Tax Credit equity, and $36.5 million in HCR Supportive Housing Opportunity Program subsidy. The New York City Department of Housing Preservation and Development is providing $22.3 million through the Supportive Housing Loan Program.
CDFA Recognizes Julie Behrens — Newest Graduate of the Prestigious DFCP Program
The Council of Development Finance Agencies (CDFA) is pleased to announce Julie Behrens, Adjunct Instructor for Baruch College in New York, NY, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. Ms. Behrens joins numerous fellow graduates who are recognized as the most qualified leaders in development finance and are equipped to tackle the complexities of the industry.
Food Supply Chain Funding Available in North Carolina
The N.C. Department of Agriculture and Consumer Services is offering $6.2 million in funding through a new grant program geared toward small agribusinesses and designed to strengthen the middle of the food supply chain. Grants of up to $100,000 for equipment-only purchases and up to $2 million for infrastructure projects will be available through a competitive application process.
Mitchell Smith Guest Speaker at CohnReznick's Annual New Markets Tax Credit Summit
Mitchell Smith, CDFA's Senior Director of Government & External Affairs, joined CohnReznick in Miami to speak at their annual New Markets Tax Credit (NMTC) Summit! Mitchell shared his expertise at the session, "Ballot boxes, budgets, and bipartisanship: The legislative state of the NMTC in the 2024 election year."
Alabama Governor Signs Bill Creating State LIHTC With $5M Annual Cap
Alabama Governor Kay Ivey recently signed legislation creating a state Low-Income Housing Tax Credit (LIHTC) for properties that receive federal 4% LIHTCs. H.B. 346 creates the Alabama Workforce Housing Tax Credit, with a $5 million annual statewide cap and a $2 million annual project cap. For each award cycle, 20% to 25% of the cap will be awarded to rural properties, with the remainder awarded to qualified projects without geographic limitation.
Harris County, PA Introduces Groundbreaking RLF Program for Small Businesses
Harris County has launched its first-ever revolving loan program, the Harris County Opportunity Fund, specifically designed to bolster small businesses, with a focus on enterprises owned by minorities and women. This innovative initiative was approved by the Commissioner's Court and is being spearheaded by Commissioner Rodney Ellis, who expressed his pride and optimism for the positive impact this program is set to deliver.
$72M for Affordable Senior Housing Development in Atlanta, GA
Berkadia has arranged financing for Englewood Senior, a 160-unit affordable seniors housing development in Atlanta. Located at 413 Englewood Ave. SE, the proposed $72 million development would offer independent living units for seniors earning 60 percent or less of the area median income. Planned amenities at the property include a fitness center, movie theater, community room, and an outdoor courtyard.
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Upcoming Events |
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Upcoming Webcasts |
CDFA // BNY Mellon Development Finance Webcast Series: AI & Bonds
May 21, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will unravel the multifaceted dimensions of AI's role in the municipal market, potential advantages and challenges that arise from embracing AI, and its impact on development finance.
2024 CDFA Equitable Lending Learning Series: Strategic Partnerships for Sharing Financial Risk
May 28, 2024 - 1:00 PM - 3:00 PM Eastern
In this installment of the CDFA Equitable Lending Learning Series, speakers will explore how leveraging the strengths and expertise of various capital partners, technical assistance providers, and philanthropic supporters can help build successful and sustainable programs.
CDFA-Bricker Graydon Webinar Series: Catalyzing Transformative Redevelopment with TIF
June 11, 2024 - 2:00 PM - 4:00 PM Eastern
Speakers on this event will present the basics of how these tools work and provide case studies highlighting how PACE and special assessment financing can be paired to create more environmentally sustainable projects.
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Job & RFP Postings |
Cuyahoga County - Economic & Community Development Program Specialist
Cuyahoga County is looking for an Economic & Community Development Program Specialist. The purpose of this classification is to coordinate and manage economic and community development programs that support business and commercial vitality. This is a professional level classification that is responsible for administering economic development programs and servicing a portfolio of economic development loans and grants. The incumbent is expected to work independently and ensure that all activities are performed in a timely manner and according to policies, procedures, and regulations.
Washington State DOC - Request for Information: Financial Feasibility Services
The Department of Commerce is conducting a Request for Information (RFI) to solicit input from firms in the public finance and market feasibility consulting industries on a draft Request for Qualifications (RFQ) planned for the spring of 2025. The purpose of the future RFQ will be to create a pool of qualified consultants that will assist the Washington State Department of Commerce with serving Public Facility Districts in Washington state with their financial feasibility review needs.
Oregon Department of Environmental Quality - Senior Loan Specialist, Clean Water State Revolving Fund (Loan Specialist 3)
The Oregon Department of Environmental Quality has a full-time opportunity for a Senior Loan Specialist, Clean Water State Revolving Fund (Loan Specialist 3) in Eugene, Portland, or Salem, Oregon. This position is in the Community and Program Assistance section which provides overall leadership and program guidance for the state's Clean Water State Revolving Fund loan program and other water quality grants and financial aid programs. Application deadline is May 27, 2024.
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This Week's Headlines |
Detroit, MI Company Using IRA Funds to Help Low-Income Households be More Energy Efficient
wdet.org | May. 16 | Energy Finance | Housing Finance
Joliet to Receive $76M in Water Infrastructure Loans From Illinois EPA
The Times Weekly | May. 16 | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance
Kentucky Agricultural Finance Corp. Approves $4.8M in Loans
Morning AgClips | May. 16 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program
Tax Credit Choice for Solar and Wind Power in the Inflation Reduction Act
Resources | May. 16 | Energy Finance | Tax Credits
Yellen Touts Broadband Investments in Trip to Rural Virginia
Reuters | May. 16 | Infrastructure Finance | Rural Development
Town of Amity, NY Gets Federal $1.5M Loan for Water System
Olean Times Herald | May. 14 | Access to Capital | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance
USDA Rural Development Announces Project to Strengthen Rural Infrastructure in West Virginia
USDA Rural Development | May. 14 | Access to Capital | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | Water Finance
$32M Affordable Senior Apartments Coming to Vacant Chicago, IL South Side Land
Block Club Chicago | May. 14 | Housing Finance | Tax Credits | Low Income Housing Tax Credits (LIHTCs)
$5.87M Awarded by PCC-DBII to Dairy Businesses in Five States
Morning AgClips | May. 14 | Access to Capital | Agriculture Finance | U.S. Dept. of Agriculture (USDA)
Invest Appalachia Fund Closes With $35M for Community-First Investing
Mountain Partnership | May. 13 | Access to Capital | Agriculture Finance | Innovation Finance | Rural Development | Angel Investment | Seed Capital
IRS Announces Opening Date for Low-Income Communities ITC Bonus Program
Novogradac | May. 13 | Energy Finance | Internal Revenue Service (IRS) | Tax Credits
Long-Term Deposit in Native-Owned Bank Spurs Investment in Habitat Denver
Federal Reserve Bank of Kansas City | May. 10 | Housing Finance | Tax Credits | Tribal Finance | Federal New Markets Tax Credits (NMTCs)
New Funds Available for Ag Conservation Research in Pennsylvania
Lancaster Farming | May. 10 | Access to Capital | Agriculture Finance | Resiliency | State Finance Program
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National Sponsor Spotlight |
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CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax, and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...
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Frost Brown Todd LLP
With over 600 lawyers across their eight-state footprint, Frost Brown Todd LLP offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical, industry, and legal knowledge and hands-on experience to...
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Grow America | Formerly NDC
NDC's work focuses on HOMES, JOBS, and COMMUNITY. Founded as a national nonprofit in 1969, NDC has worked for over 50 years fulfilling its mission to increase the flow of capital for investment in low-income communities. NDC directs capital to...
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Partner Spotlight |
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The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its website, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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CDFA Bookstore |
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The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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