Development Finance Review Weekly - April 25, 2024
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Features |
Leverage SSBCI for the GGRF at the Next SSBCI Learning Series Session
During the upcoming session of the SSBCI Learning Series, we will explore the intersection between the Greenhouse Gas Reduction Fund (GGRF) and the State Small Business Credit Initiative (SSBCI) and how GGRF awardees and SSBCI state program managers can work together to support these programs. Engage directly with recently announced awardees and industry experts. Register today!
Global Academy of South Carolina Expands in Spartanburg with $31.4M in JEDA Bonds
The South Carolina Jobs-Economic Development Authority (JEDA) has issued $31.4 million in Educational Facilities Revenue Bonds to construct and equip the new Global Academy of South Carolina in Spartanburg. The tax-exempt bonds will be used to finance the conversion of a 120,000-square-foot former sports academy into a public charter school.
U.S. DOE Announces Partnership to Advance Equitable Access for Small Businesses
The Department of Energy (DOE) announced a new partnership between the Office of Energy Justice and Equity (EJE) and Lendistry to bridge the financing gap that often hinders small businesses from competing for contracts and reaching their full potential in the energy sector. The Memorandum of Agreement represents a significant step forward in advancing EJE's mission to increase equal and equitable access to opportunities for small and minority businesses.
Montgomery, AL RLF Provides $2.5M to Support Local Small Businesses
Montgomery County and the city are partnering to use American Rescue Plan dollars to support small businesses. A portion of the funding will go to create the Small Business One Stop Shop and also the Access to Capital loan program. The Small Business One Stop Shop will offer training to help people start, manage, and expand their small businesses. Gaitway Solutions will manage the Small Business One Stop Shop.
USDA Invests $238M for Clean Energy and Domestic Biofuels
The U.S. Department of Agriculture (USDA) is funding more than 700 clean energy projects to lower energy bills, expand access to domestic biofuels, and create jobs and new market opportunities for U.S. farmers, ranchers, and agricultural producers. Many of the projects are funded by the Inflation Reduction Act. In all, USDA is providing $238 million in funding through the Rural Energy for America Program and the Higher Blends Infrastructure Incentive Program.
$20B in Clean Energy Financing Awaits Michigan Lenders
Newly announced awards of Inflation Reduction Act (IRA) dollars in two national programs mark a significant step toward channeling millions of dollars in clean energy financing to households, small businesses, nonprofits, and other organizations in Michigan. This funding will provide Michigan lenders the opportunity to expand green lending product offerings and increase their impact in our communities.
U.S. EPA Announces $7B in Solar For All Awards
The U.S. Environmental Protection Agency (EPA) announced 60 selectees that will receive $7 billion in awards through the Solar for All grant competition. The grant competition is funded by the Inflation Reduction Act (IRA), which created EPA's $27 billion Greenhouse Gas Reduction Fund (GGRF). The 60 selections will provide funds to states, territories, tribal governments, municipalities, and nonprofits across the country to develop long-lasting solar programs.
Chicago, IL to Borrow $1.25B for Economic Development, Affordable Housing Projects
The Chicago City Council voted 32-17 on Friday to borrow $1.25 billion during the next five years to fund a wide-ranging slate of projects designed to expand the supply of affordable homes and good-paying jobs. The approval represents a major win for Mayor Brandon Johnson, who has touted the proposal as a way to make Chicago a more equitable place to live by "investing in people" and expanding the city's economic capacity — without raising taxes on Chicago property owners.
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Upcoming Events |
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Upcoming Webcasts |
CDFA Food Systems Finance Webinar Series: Financing Food Systems with Revolving Loan Funds
April 30, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, panelists will discuss how revolving loan funds can be used to support small businesses, entrepreneurs, and microenterprises to strengthen local and regional food systems. The discussion will also identify how these tools can help unlock affordable capital for socially disadvantaged farmers and ranchers.
SSBCI Learning Series - Leveraging SSBCI for the Greenhouse Gas Reduction Fund
May 7, 2024 - 2:00 PM - 4:00 PM Eastern
Creating new and expanding existing small businesses will be critical to the success of the Greenhouse Gas Reduction Fund (GGRF). During this session, panelists will provide insights on how local SSBCI practitioners can leverage SSBCI to bring GGRF dollars to their communities.
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.
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Job & RFP Postings |
Maryland DHCD - Client Services Coordinator (CDA-Energy)
The Client Services Coordinator is responsible for overseeing and guiding the intake staff with daily monitoring of a robust pipeline of applications and ensuring applications are reviewed and processed within the program guidelines. Responsibilities include logging new applications and assigning to staff, providing day-to-day guidance, monitoring the eligibility and assignment process of applicants to the network partners, troubleshooting applicant concerns, and identifying resolutions that are in line with program guidelines.
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This Week's Headlines |
LTADD RLF Provides Vital Support for Area Small Businesses in Kentucky
The LaRue County Herald News | Apr. 24 | Access to Capital | Community Development | Revolving Loan Funds (RLFs)
U.S. DOT Grant of $548K Aims to Revitalize Pine Bluff
University of Arkansas | Apr. 23 | Access to Capital | Community Development | Economic Development | Federal | Historic Preservation | Redevelopment | U.S. Dept. of Transportation (DOT) | Urban Development
U.S. EDA Invests $2.1M for Infrastructure and Manufacturing in Clarksdale, MS
U.S. Economic Development Administration | Apr. 23 | Access to Capital | Federal | Infrastructure Finance | U.S. Economic Development Administration (EDA)
Vantage Data Centers Secures $3B to Fuel North America Platform Expansion
Morningstar | Apr. 23 | Community Development | Green Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)
Fitch Rates Rhode Island Infrastructure Bank's Series 2024 SRF Bonds 'AAA'
Fitch Ratings | Apr. 22 | Bond Finance | Bond Rating Agencies
How Opportunity Zones Progressed Through 2024
Multi-Housing News | Apr. 22 | Opportunity Zones
Kentucky Agricultural Finance Corp. Approves $2.9M in Loans
Morning AgClips | Apr. 22 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program
Native Tribes Overload NTIA With Broadband Funding Requests
Statescoop | Apr. 22 | Infrastructure Finance | Tribal Finance
Pennsylvania Broadband Gets Big Boost From Latest Grant Funding
Broadband Communities | Apr. 22 | Infrastructure Finance | Public-Private Partnership (P3) Financing
Spring PSD Receives Funding for Treatment Plant Upgrades in Glen Morgan, WV
WVVA | Apr. 22 | Community Development | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance
York County, PA Approves Program to Help Fund Renewable Energy, Conservation
York Daily Record | Apr. 22 | Energy Finance | Property Assessed Clean Energy (PACE)
Colorado Pitches Incentive Proposals to Capture More Manufacturers
9 News | Apr. 21 | Energy Finance | Incentives | Tax Credits
Community Ag Project Grants Up to $5K for Georgia Non-Profits
Morning AgClips | Apr. 21 | Access to Capital | Agriculture Finance | Foundations
Two Companies Enter Historic Deal to Manufacture Solar Panels Domestically
The Cool Down | Apr. 20 | Energy Finance | Tax Credits | Renewable Energy Investment Tax Credit (ITC)
$2.1M in State ERA2 Funds to Combat Homelessness in Northern Kentucky
Northern Kentucky Tribune | Apr. 20 | Disaster Recovery & Relief | Housing Finance | COVID-19
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National Sponsor Spotlight |
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Raza Development Fund
Raza Development Fund invests capital and creates financial solutions to increase opportunities for Latino and poor families across the country.
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SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private, and institutional clients. Their mission is to...
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Stifel Nicolaus
Stifel Nicolaus, founded in 1890, is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments saving millions of dollars for our public and...
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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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New Members |
Paramount Bank - Saint Louis, MO
Vida Mejor Capital, Inc. - Ohkay Owingeh, NM
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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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