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CDFA Tax Credits Finance Update - August 23, 2022

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Tax Credits Finance Update
August 23, 2022
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Tax Credits Finance Update

Features

The CDFA Ohio Financing Roundtable is Back!
Join CDFA on September 14, 2022, in Columbus, Ohio for a one-day conference to share best practices within the development finance industry. Experts from across the state will discuss the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward. If you have a stake in Ohio's economic development finance industry, you won't want to miss this event. Space is limited, register today!

President Biden Signs Historic Legislation Providing Expansive Clean Energy Tax Incentives
On August 16, 2022, President Biden signed the "Inflation Reduction Act of 2022" (the "Act"), which includes the largest single investment in clean energy in United States history. The Act extends and expands existing tax credits and adds several new energy tax credits to encourage the production of electricity using clean energy and reduce carbon emissions.

Rhino Health USA, Inc. Closes $58M New Markets Tax Credit Financing
Fort Worth-based Rhino Health USA, Inc. announced the closing of a $58 million New Markets Tax Credit transaction that will help fund the company's $200 million investment for its large-scale manufacturing expansion in North Texas. As the only domestic manufacturer of nitrile rubber gloves, Rhino will use the 400,000 square foot facility in Majestic Fort Worth South Business Park to produce 3 billion gloves per year. This will be Rhino's largest manufacturing facility to date.

Hunt Capital Partners Closes $163.5M Tax Credit Fund
Hunt Capital Partners (HCP) has announced the closing of a $163.5 million national low-income housing tax credit fund. Hunt Capital Partners Tax Credit Fund 48 includes a mix of family and senior housing developments, creating 1,571 affordable homes in 15 developments across 10 states with nonprofit, for-profit, and local housing authority development partners.

Regions Bank Arranges Vital Financing for New Housing in Brooklyn, NY
Regions Bank formally announced the closing of two transactions to support a transformational building initiative in Brooklyn, New York. The initiative is led by HELP USA, a national housing nonprofit dedicated to addressing the holistic needs of individuals and families experiencing homelessness.

Real Examples of How the NMTC is Transforming Communities and Commercial Real Estate
The New Markets Tax Credits were established to provide an incentive for investment in low-income communities. The program can support solutions to some of the toughest challenges these areas are facing. By tapping into the NMTC incentive program as an economic development tool to improve areas such as employment, food accessibility and education, communities provide residents with greater access and equity.

$13M in Tax Credits for Pennsylvania Farmers' Improving Water and Soil Quality
Secretary Russell Redding announced the availability of $13 million in tax credits to Pennsylvania farmers for measures to improve soil and water quality. Tax credits through Pennsylvania's innovative conservation financing program, Resource Enhancement and Protection (REAP), can be combined with other state funding to help grow a sustainable farm economy.

BRIDGE Housing, U.S. West Coast, Secures $250M Affordable Housing Commitment
BRIDGE, a leading nonprofit developer, owner and manager of affordable housing on the U.S. West Coast, estimates this commitment will leverage up to $1B in additional capital for affordable housing. BRIDGE will use the funding to acquire multifamily properties, portfolios and/or land, as well as for refinancing, capital improvements and acquisition of general partner interests.

Upcoming Events
CDFA National Development Finance Summit

CDFA // BNY Mellon Development Finance Webcast Series: Deploying Capital in Native American Communities
Tuesday, September 13, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, a panel of experts will share insights on how to preserve and grow tribal communities by unlocking development finance tools.

CDFA Ohio Financing Roundtable
September 14, 2022 - Columbus, OH
During this special one-day conference, we will share knowledge of best practices within the state's development finance industry. This event will feature economic development finance experts from around the state discussing the latest and most innovative development finance tools, authorities, resources, and approaches, and how these can affect the Ohio economy going forward.

More Headlines

President Biden Signs Inflation Reduction Act
The Hill | Aug. 16 | Access to Capital | Energy Finance | Federal | Green Finance | Healthcare | Housing Finance | Incentives | Infrastructure Finance | Legislative | Rural Development | Tax Credits | Water Finance | Understanding Access to Capital | Loan Guarantees | Policies and Procedures | Transportation | Water Finance | Legislative Activities | Renewable Energy Production Tax Credit (PTC) | Renewable Energy Investment Tax Credit (ITC) | State Energy Tax Credits

Inflation Reduction Act: Tax Implications for Public Finance Transactions
Kutak Rock | Aug. 16 | Access to Capital | Bond Finance | Development Finance Toolbox | Economic Development | Federal | Tax Credits | Urban Development | Bond Volume Cap | Understanding Housing Finance | Legislative Activities

Monterey, CA School District Explores Funding Options for Affordable Employee Housing
Monterey Herald | Aug. 15 | Bond Finance | Housing Finance | Tax Credits

New Climate Bill Demands All-American EV Batteries
Wired | Aug. 15 | Energy Finance | Federal | Green Finance | Legislative | Tax Credits | Energy Efficiency Programs | Technology Financing | Legislative Activities

Sweeping Climate Bill Will Push American Energy to Go Green
PBS | Aug. 12 | Access to Capital | Development Finance Toolbox | Economic Development | Energy Finance | Federal | Green Finance | Legislative | Tax Credits | Understanding Access to Capital | Renewable Energy Production Tax Credit (PTC) | Renewable Energy Investment Tax Credit (ITC) | Transportation | Legislative Activities

Dallas, TX Voters to Decide on Bond-Financed Convention Center Revamp
The Bond Buyer | Aug. 11 | Bond Finance | Infrastructure Finance | Tax Credits | Tax Increment Finance (TIF)

Residents to Weigh In on $97M Bond Package to Transform Fayetteville, NC
ABC11.com | Aug. 10 | Bond Finance | Infrastructure Finance | Tax Credits

Pennsylvania Ag Secretary Encourages Farmers to Take Advantage of Farm Bill Investments
Pennsylvania Pressroom | Aug. 9 | Access to Capital | Agriculture Finance | Bond Finance | State Finance Program | Tax Credits

Iowa Will Seek New Federal Funds for Coal Mine Mitigation
Des Moines Register | Aug. 8 | Energy Finance | Green Finance | Infrastructure Finance | Tax Credits | Water Finance

Senate Passes Climate, Health, and Tax Bill
New York Times | Aug. 7 | Energy Finance | Federal | Infrastructure Finance | Legislative | Social Finance | Tax Credits | Transportation | Legislative Activities | Renewable Energy Production Tax Credit (PTC)

Inflation Reduction Bill Uses Public Finance to Stoke Energy Investment
American Prospect | Aug. 3 | Federal | Green Finance | Legislative | Tax Credits | U.S. Dept. of Energy (DOE) | Transportation | Legislative Activities

Cuyahoga County, OH Launches First-of-Its-Kind Energy Plan
The Bond Buyer | Aug. 3 | Energy Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | Tax Credits

Clearinghouse CDFI Secures $4M to Finance Affordable Housing Development
Yahoo! Finance | Aug. 3 | Bond Finance | Community Development | Economic Development | Healthcare | Housing Finance | Public-Private Partnership (P3) Financing | Rural Development | Tax Credits

Dakota Partners Move Ahead on New Hampshire Development
Affordable Housing Finance | Aug. 3 | Bond Finance | Community Development | Federal | Housing Finance | Tax Credits

Governor Hochul Announces Completion of $17M Housing Development in Onondaga County, NY
Governor.ny | Aug. 3 | Community Development | Federal | Housing Finance | Tax Credits

Capital Help Crucial for Beginning Farmers
Iowa Farmer Today | Jul. 29 | Access to Capital | Agriculture Finance | Bond Finance | Federal | Revolving Loan Funds (RLFs) | Tax Credits | U.S. Dept. of Agriculture (USDA)

Senate Democrats Announce the Inflation Reduction Act of 2022
White House | Jul. 28 | Economic Development | Energy Finance | Federal | Green Finance | Infrastructure Finance | Internal Revenue Service (IRS) | Legislative | Rural Development | Social Finance | Tax Credits | Tribal Finance | U.S. Dept. of Agriculture (USDA) | U.S. Dept. of Energy (DOE) | U.S. Dept. of Housing & Urban Development (HUD) | U.S. Dept. of Transportation (DOT) | U.S. Environmental Protection Agency (EPA) | Urban Development | Water Finance

KeyBank Provides $14.3M Loan for Conversion of Former School in Nebraska
REBUSINESS ONLINE | Jul. 25 | Community Development | Historic Preservation | Housing Finance | Redevelopment | Tax Credits



The Council of Development Finance Agencies (CDFA) 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, visit www.CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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CDFA National Sponsors

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd LLC
  • gener8tor
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor