Register Today for the 2023 Federal Policy Conference!
Reserve your spot at the 2023 CDFA Federal Policy Conference on April 11-12, 2023, in Washington, D.C. CDFA, with sponsorship by Ice Miller LLP and the National Development Council, will bring together leaders from the Biden administration, Congress, federal agencies, and the development finance industry to discuss the massive infrastructure investments made by the 117th Congress as well as the development finance challenges that state and local governments continue to face. Space is limited; act fast!
Now Accepting Applications for the Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to build leadership positions for women in the field of development finance and to inspire them to embody Caren's spirit and professionalism. Franzini Fellows accepted into the program must be employed by a CDFA member and have worked in the development finance field for less than 10 years. Applications are being accepted through Friday, April 7, 2023.
Evergreen Real Estate Group Tops Out Chicago, IL Area Senior Housing
Evergreen Real Estate Group has topped off Bellwood Senior Apartments, a $30 million, four-story affordable senior housing community in the Chicago suburbs. Development and construction of the community was funded with Low Income Housing Tax Credits issued by the Illinois Housing Development Authority, alongside Tax Increment Financing provided by the village of Bellwood.
North Mankato, MN Approves TIF for Distribution Center
The City Council agreed to a tax increment finance subsidy package for a large warehouse and distribution center in North Mankato's Northport Industrial Park. The tax increment financing will amount to $2.1 million, based on a property value that's expected to be $9.4 million in 2025 after construction of the building.
Developing Downtown: $15M Wilson Lofts Project will be Unveiled in Clinton, IA
The Wilson Lofts development attracted over 12 layers of complex financing to make up the capital stack and includes federal new market tax credits, state historic tax credits, federal historic tax credits, tax increment financing from the City of Clinton, Brownfield/Grayfield tax credits, a Downtown Revitalization Grant from the Iowa Economic Development Authority through the City of Clinton, and private debt by IHMVCU, BankORION, and American Bank & Trust.
Minnesota Bill to Allow More Small Cities to Use TIF for Commercial Developments
The Minnesota House Property Tax Division heard HF 1049 (Rep. Jeff Brand, DFL-St. Peter), a bill that would expand the ability for more small cities under 5,000 in population located within five miles from another city with a population of 10,000 or more to use TIF for commercial developments.
Former Kansas City, MO Coal Yard Could Be Remade to House More than 800 Apartments
A sustainable developer looks to take a former Kansas City coal yard once responsible for tons of carbon emissions each year and bring it into the future with what potentially could become the largest recent residential proposal in greater Downtown.
Cleveland, OH Hotel Lands $9M in TIF Bonds to Complete Renovation
The Port of Clevland has approved $9.1 million in tax increment financing to help the owner of the Renaissance Cleveland Hotel-Marriott complete its years-long renovation. The Cleveland-Cuyahoga County Port Authority approved the financing, also known as TIF bonds.