Development Finance Review Weekly - November 15, 2018
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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 are given the opportunity to work directly with CDFA through a one-year program aimed at developing lasting woman leaders in the field of development finance.
SC Governor's Opportunity Zones Summit Scheduled for January 25
Led by Governor Henry McMaster and in partnership with the Office of U.S. Senator Tim Scott and the Council of Development Finance Agencies (CDFA), the state of South Carolina will present the Governor's Opportunity Zones Summit on January 25, 2019 in Columbia, S.C.
Beneficial State Bank's Investment in Rural OR Builds Community Wealth
Banking is often synonymous with extracting wealth from communities; but not all banks use this model. Beneficial State Bank is committed to a triple bottom line: social justice, environmental well-being, and financial sustainability. The bank's loans seek to enhance these values by supporting "a new economy that is fully inclusive, racially- and gender-just, and environmentally restorative."
Study Urges Expansion of PABs
A new paper from the Reason Foundation argues that Congress should expand the permissible uses of tax-exempt private activity bonds and lift the PAB volume cap to facilitate financing of long-term infrastructure leases that could generate as much as $885 billion for state and local governments.
Here's Where Chicago, IL's $1.5B Plus New TIF Districts Would Go
Racing against the electoral clock, the Emanuel administration is moving quickly to lock-in development deals for a series of megaprojects in neighborhoods abutting the central area of the city—potentially providing a huge boost to Chicago's economy but at a cost of what easily could be $1.5 billion or more in subsidies.
U.S. Voters Backed at Least $24.4B of Bond Sales
Voters across the U.S. were backing at least $24.4 billion of bond sales to support school construction and infrastructure upgrades including road and bridge repairs, led by multi-billion-dollar measures in California. The nationwide election brought about $76.3 billion of bond referendums from California to Maine, the most in an election since 2006.
UI Solar Farm Utilizes PPA for P3
The University of Illinois' first solar farm was built on university-owned land through a public-private partnership with Phoenix Solar Inc. of California. UI is buying all of the energy produced from Phoenix Solar through a PPA, and after 10 years, the university will buy the farm at fair market value.
The Impact of Tax Reform on the Federal Historic Tax Credit One Year Later
One year after tax reform, the HTC program is enjoying continued high demand from both developers and investors. NPS stats verify the incentive's continued popularity and concerns that lowering corporate tax rates would dampen investor appetite have not materialized.
AR Audit Report Suggests Incentives Aid State Economy
It's unclear whether $116.6 million in economic incentives provided by the state of Arkansas benefited the state's economy, but most of the incentives appear to have served their intended purpose, according to an Arkansas Legislative Audit report presented to lawmakers.
The Port Receives Impact Loan From Greater Cincinnati Foundation
The Port announced it has received a $1,000,000 impact investment from Greater Cincinnati Foundation to establish the Greater Cincinnati Neighborhoods Housing Revitalization Loan Fund – a bold new step to accelerate neighborhood redevelopment.
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Upcoming Events |
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News from |
The latest municipal finance headlines from The Bond Buyer.
Atlanta, GA 'Gulch' Project Receives $1.9B in Munis
Atlanta has approved an incentive package with $1.9 billion in bond financing to support a $5 billion development proposal by the CIM Group. CIM will purchase parcels from various owners in the Gulch, install a platform to raise the property to the adjacent street level, and build a mixed-use development.
University in OH Readies $49M in Unrated Bonds
Columbus based Ohio Dominican University is readying a $49 million issue of unrated bonds to fund projects as it works to turnaround enrollment. The unrated bonds will be issued through Columbus–Franklin County Finance Authority.
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 // BNY Mellon Development Finance Webcast Series: Financing Broadband Infrastructure
Tuesday, November 20, 2018 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, we will learn about some of the various financing options & ownership structures available to communities to provide and increase the quality of broadband infrastructure in the U.S.
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Job & RFP Postings |
CDFA Hiring: Coordinator, Research & Technical Assistance
The Council of Development Finance Agencies seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Research & Technical Assistance. This position is responsible for assisting with CDFA's research projects, resource collection, information sharing, newsletter publications, headlines review and educational efforts.
CDFA Hiring: Manager, Education
The Council of Development Finance Agencies seeks a motivated, well-organized and energetic individual to fill the position of Manager, Education. This position is responsible for leading and managing the highly acclaimed CDFA Training Institute as well as other CDFA educational offerings.
CDFA Hiring: Coordinator, Programming
The Council of Development Finance Agencies seeks a motivated, well-organized and energetic individual to fill the position of Coordinator, Programming. This position is responsible for assisting with CDFA's various events including state conferences, training courses, webinars and the CDFA National Summit.
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This Week's Headlines |
Philly, PA Voters Approve $180M Bond Question
The Inquirer | Nov. 14 | Bond Finance | Legislative
$20.6B of Bond Sales Backed by Voters in Midterm Election
Fortune | Nov. 14 | Bond Finance | Legislative
HFF Announces $278.4M Financing for Colony Square in Midtown Atlanta, GA
Global Banking & Finance Review | Nov. 13 | Infrastructure Finance | Redevelopment | Urban Development
Five Things to Know about the $950M Union Row Development in Memphis, TN
Commercial Appeal | Nov. 13 | Infrastructure Finance | Redevelopment | Tax Increment Finance (TIF) | Urban Development | Water Finance
Aging Water Lines from Dogtown Lake, AZ to Be Replaced
Williams News | Nov. 13 | Infrastructure Finance | Water Finance
$1.2B LA Convention Center-Hotel Project Would Require $100M Public Subsidy
LA Times | Nov. 13 | Infrastructure Finance | Redevelopment | Urban Development
Board Approves $337M Downtown Convention Hotel for Salt Lake City, UT
Desert News | Nov. 13 | Bond Finance
Bonds, Not Stocks, Are the Real Midterm Winners
Bloomberg Opinion | Nov. 13 | Bond Finance | Legislative
RI Voters Approve $47.3M Environmental Bond
Providence Journal | Nov. 13 | Bond Finance | Green Finance
$3.5B Bond Request Approved for San Diego, CA Schools
American School & University | Nov. 13 | Bond Finance
New Cleveland, OH Fund Will Acquire Businesses and Sell Them Back to Workers
Next City | Nov. 13 | Access to Capital | Economic Development
OR Offers Tax Credit on Gifts to Venture Development Fund
University of Oregon | Nov. 13 | Innovation Finance | Tax Credits
Near Atlanta, GA Airport, P3 Delivers 244 Affordable Rentals
Curbed Atlanta | Nov. 12 | Infrastructure Finance | Public-Private Partnership (P3) Financing | Urban Development
Governor Walker Announces No-Interest Loans for Flood Affected Businesses
Urban Milwaukee | Nov. 12 | Access to Capital | Disaster Recovery & Relief
NJEDA Approves $39M Tax Credit to Software Company GoBrands
NJBIZ | Nov. 12 | Tax Credits
EPA Awards More Than $27 Million to NH for Local Clean Water Projects
U.S. EPA | Nov. 12 | U.S. Environmental Protection Agency (EPA) | Water Finance
State Grant Helps Wolf Ridge Farm Create Agro-calendar
Lake County News Chronicle | Nov. 12 | Agriculture Finance | Food Systems Finance
Fergus Falls, MN Port Authority Moves to Purchase Dairy Property
The Daily Journal | Nov. 12 | Agriculture Finance | Food Systems Finance | Redevelopment
WHEDA Introduces New Renovation and Grant Programs
Milwaukee Independent | Nov. 12 | Community Development
The Dollars to Shape Cities
Next City | Nov. 12 | Community Development | Innovation Finance
NJEDA Takes Steps to Increase Access to Capital for Small Businesses
NJEDA | Nov. 12 | Access to Capital | State Finance Program
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National Sponsor Spotlight |
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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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Squire Patton Boggs
Squire Patton Boggs has come together to combine the strength, influence and resources of Squire Sanders and Patton Boggs. Their global team of over 1500 lawyers across 44 offices in 21 countries is ready to support their clients – wherever law,...
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Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...
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Partner Spotlight |
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CDFA Bookstore |
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Development Bond Finance Reference Guide
The Development Bond Finance Reference Guide provides practitioners with a solid foundation for understanding the use of tax-exempt bonds, with an emphasis on small issue industrial development bonds and 501(C)(3) bonds.
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New Members |
Forty Six North Advisors - San Francisco, CA
The Kim Group, Ltd. - Pedria, IL
Knudson, LP - Houston, TX
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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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