Development Finance Review Weekly - November 12, 2020
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Feature |
State and Local Reforms to Unlock Congressional Stimulus
A key impediment to achieving a congressional compromise on COVID-19 relief and economic stimulus is the level of aid to be given to states and local governments. Congress can include two provisions in the pending stimulus legislation to make the level of federal aid to a state or locality contingent on practices that promote sound intergovernmental fiscal management.
A Shot in the Arm: How COVID-19 Could Transform Healthcare
From March-June 2020, hospitals and healthcare systems faced an estimated $202.6 billion in losses, averaging roughly $50.7 billion per month. Although Congress was quick to respond with emergency relief funding, it may not be enough to support a system that was already financially strained before the outbreak. The pandemic has exacerbated these financial constraints.
From California to Ohio, LISC Boosts Housing Developer Capacity
For more than 20 years, LISC has offered an affordable housing developer boot camp in California called the Housing Development Training Institute (HDTI). Earlier this year, LISC brought this successful training model to developers outside of California for the first time, training 20 developers across Ohio thanks to support from U.S. Bank Foundation.
Pelosi Touts Possible Bipartisan Cooperation on Infrastructure After Election
U.S. House Speaker Nancy Pelosi pointed to a large infrastructure package as an area where Democrats and Republicans might cooperate with Democrat Joe Biden in the White House, while Republicans maintain control of the U.S. Senate. Pelosi also rejected the idea of Democrats downsizing their ambitions for another round of coronavirus relief in order to strike a compromise with Republicans.
Voters Back at Least $26.7B of Municipal Borrowing Plans
Americans approved at least $26.7 billion in state and local borrowing measures, more than half of the proposed bond sales on ballots across the country, while another $15.7 billion are still pending final results. So far, only $2.7 billion of bond measures, or about 6% of those proposed, had been defeated as of Thursday.
What is Green Finance and Why is it Important?
Green finance is blossoming. Globally, the green bond market could be worth $2.36 trillion by 2023. It is regarded as a way of meeting the needs of environmentalism and capitalism simultaneously – but what is green finance and how does it work?
With the Election Over, Will COVID Stimulus Actually Move Forward?
Senate Majority Leader Mitch McConnell on Wednesday said approval of another coronavirus stimulus package before the end of the year would be his top priority when the Senate reconvenes next week. Funding for state and local governments, a sticking point in prior negotiations, could also be considered, he said.
FCC Opens $100M Connected Care Telehealth Pilot Program
The Federal Communications Commission opened applications Nov. 6 for its $100 million Connected Care Pilot Program, which aims to improve telehealth access for low-income Americans and veterans. The program, which was introduced by the FCC in 2018, will provide up to $100 million from the Universal Service Fund over a three-year period to help providers implement connected care services.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Bond Ballots, the Fed and the Muni Market
Lynne Funk and Gary Siegel discuss how the election results will affect the municipal market, how the Fed moves forward, and some winners and losers with bond ballot measure results and muni advocates who held onto their seats in Congress.
Public Finance Sector Optimistic About Biden Presidency
Public finance sector officials are optimistic a Joe Biden presidency will mean strong financial support for state and local governments as well as robust infrastructure legislation. They also are hopeful the negative impacts of a federal tax overhaul enacted in 2017 will be reversed.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.
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Upcoming Webcasts |
CDFA-PFM Capital Markets Webinar Series: An Advanced Discussion on Ratings
November 20, 2020 - 2:00 - 3:30 PM Eastern
During this installment of the CDFA-PFM Capital Markets Webinar Series, we will gather experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.
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Job & RFP Postings |
City of Milwaukee Publishes RFP For Third Party Administrator of PACE Financing Program
The City of Milwaukee has published an RFP for a third-party administrator of its Property Assessed Clean Energy (PACE) financing program.
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This Week's Headlines |
An Updated Analysis of Former Vice President Biden's Tax Proposals
Tax Policy Center | Nov. 10 | Economic Development | Legislative | Tax Credits
Aurora, CO Offering $5M In Grants To Local Businesses And Nonprofits Impacted By COVID-19
CBS 4 Denver | Nov. 9 | Disaster Recovery & Relief | Local Finance Program | COVID-19
Austin, TX Voters Approve Transit, Transportation Improvements
Next City | Nov. 9 | Bond Finance | Infrastructure Finance | Legislative
Development Finance Institutions Should Divest from Industrial Livestock
Devex | Nov. 9 | Agriculture Finance | Food Systems Finance | Green Finance
Elmira, NY Small Business Grant Program Launches to Help Local Business Deal with COVID-19
WETM 18 | Nov. 9 | Disaster Recovery & Relief | Local Finance Program | COVID-19
EPA Awards Approximately $90M to Address Water Infrastructure in Massachusetts
U.S. EPA | Nov. 9 | Federal | U.S. Environmental Protection Agency (EPA) | Water Finance
Fed's Main Street Lending Program Is Set to Expire. Here's How Many Loans Were Made in the D.C. Area.
Washington Business Journal | Nov. 9 | Access to Capital | Disaster Recovery & Relief | COVID-19
FEMA Approves Nearly $48M for Rhode Island COVID-19 Medical Costs
FEMA | Nov. 9 | Disaster Recovery & Relief | Federal | COVID-19
Fitch Rates Indiana Finance Authority Lease Appropriation Bonds 'AA+'; Outlook Stable
Fitch Ratings | Nov. 9 | Bond Finance | Member News
Five Ways The Biden Administration May Affect U.S. Transportation
Forbes | Nov. 9 | Economic Development | Federal | Infrastructure Finance
Instant View: U.S. Job Growth Slows in October, Unemployment Rate Drops
Reuters | Nov. 9 | Disaster Recovery & Relief | Economic Development | COVID-19
IRS Extends Period for Telephonic Public Hearings for Private Activity Bonds to September 2021
Holland & Knight LLP | Nov. 9 | Bond Finance | Disaster Recovery & Relief | Internal Revenue Service (IRS) | COVID-19
Rural America Left Behind Without Stimulus, but Congress Can Still Make a Difference
Des Moines Register | Nov. 9 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Legislative | Rural Development | COVID-19
USDA Looks to Conservation Finance to Deliver More Working Lands Conservation
USDA | Nov. 9 | Access to Capital | Agriculture Finance | Green Finance | Public-Private Partnership (P3) Financing | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)
Culpeper County, VA Gets CARES Grant to Expand Broadband
Culpeper Star-Exponent | Nov. 6 | Disaster Recovery & Relief | Federal | Infrastructure Finance | Legislative | COVID-19 | Broadband
Small Businesses Swamp COVID-19 Relief Program with Requests
The Buffalo News | Nov. 6 | Disaster Recovery & Relief | COVID-19
FCC Grants Broadband Licenses to 7 Montana Tribes
NBC | Nov. 5 | Infrastructure Finance | Rural Development | Social Finance | Tribal Finance | Broadband
Senator Brown Announces Over $1.1M for Rural Development in Southeast Ohio
News Watchman | Nov. 5 | Access to Capital | Community Development | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)
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National Sponsor Spotlight |
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KeyBanc Capital Markets
KeyBanc Capital Markets, headquartered in Cleveland, Ohio, is a full service investment banking firm serving issuers of tax-exempt debt for over 40 years. The Public Finance Municipal Banking Group operating out of offices in Cleveland, Chicago, New...
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Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 500 lawyers with offices from coast to coast. Their firm serves local, regional and national clients in a practice that spans a wide range of disciplines. They encourage their attorneys to take...
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McGuireWoods
With 1000 lawyers and 21 strategically located offices worldwide, McGuireWoods LLP uses client-focused teams to serve public, private, government, and nonprofit clients from virtually every area of the law. To complement their services, they offer...
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Partner Spotlight |
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CDFA Bookstore |
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Tax Increment Finance Best Practices Reference Guide 2nd Edition
The Tax Increment Finance Best Practices Reference Guide 2nd Edition addresses what TIF is, why it should be used, and how best to apply the TIF tool. This guide highlights both TIF and special assessment projects across the country and how they can be applied to address common economic development issues.
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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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