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CDFA Energy Finance Update - February 6, 2024

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CDFA Energy Finance Newsletter
February 6, 2024
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Energy Finance Update

Features

Coming Up Next Month: CDFA's Intro and Advanced Bond Finance WebCourses
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance WebCourse will take place on March 4-5 followed by the Advanced Bond Finance WebCourse on March 6-7. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

IRA Creates 100K Clean Energy Jobs and Attracts $110B in Private Investments
Based on tracking by the nonpartisan trade group Environmental Entrepreneurs (E2), since the passage of the Inflation Reduction Act (IRA) of 2022, over 274 major clean energy projects have been announced across 41 states, leading to over $110 billion in private investment announcements and the creation of over 95,000 jobs.

The CDFA Federal Policy Conference is back!
CDFA is excited to host the 2024 Federal Policy Conference on April 2-3 in Washington, D.C.! The conference will include sessions featuring the SSBCI, the 2024 Farm Bill, clean energy and infrastructure investments, the 2024 election, and much more. Join federal agency and development finance industry experts and leave with a better understanding of the tools, resources, and regulatory changes impacting the entire federal development finance spectrum. Register today!

New York Announces $100M for Clean Green Schools Under Environmental Bond Act
New York announced that $100 million is now available through the Clean Green Schools Initiative under the historic $4.2 billion Clean Water, Clean Air, and Green Jobs Environmental Bond Act. The initiative will allow for the advancement of construction projects to reduce greenhouse gas emissions and help public schools improve environmental sustainability and decarbonize school buildings.

Applications Now Open for the 2024 Caren S. Franzini Fellowship
The Caren S. Franzini Fellowship was created to develop and recognize outstanding women in the field of development finance for their leadership and dedication to the advancement of the industry. This 6-month fellowship program, run through the CDFA Foundation, is open to women employed by a CDFA member organization who have worked in the development finance industry for less than 10 years. Apply by Friday, March 15!

U.S. DOT Approves $2.5B in Private Activity Bonds for Brightline West Project
The U.S. Department of Transportation (DOT) approved $2.5 billion in private activity bonds authority allocated for the Brightline West High-Speed Intercity Passenger Rail project connecting Las Vegas, NV and Southern California. The 218-mile, high-speed rail line will primarily run along the I-15 median. Brightline West's $12 billion high-speed rail project will be a fully electric, zero-emission system to become one of the greenest forms of transportation in the U.S.

$6M Awarded to Three Springs Senior Living Center via Colorado's C-PACE Program
Bayview Asset Management announced it will be awarding $6 million in construction funding for the Mesa Verde senior living community in Durango via Colorado's Commercial Property Assessed Clean Energy Program (C-PACE). C-PACE enables owners of eligible commercial and industrial buildings to finance up to 100% of energy efficiency, renewable energy, and water conservation eligible improvements, according to Region 9 Economic Development.

Partners Break Ground on Michigan's First Multifamily Passive Housing Project
Michigan's first multifamily-certified passive housing development is being spearheaded by Pinnacle Construction Group and Little River Development LLC, the real estate development arm of the Little River Band of Ottawa Indians. The Michigan State Housing Development Authority awarded Low-Income Housing Tax Credits (LIHTC) worth nearly $15 million over 10 years for the project. Additional funding includes $1.5 million from Ottawa County's American Rescue Plan Act allocation and affordable housing revolving loan fund.

Upcoming Events
Intro Bond Finance WebCourse

CDFA Tribal Finance Webinar Series: Federal Funding for Tribal Communities
February 13, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers from federal agencies will discuss financing tools and programs available to tribal nations to promote community health, restore local economies, and protect our environment.

CDFA // BNY Mellon Development Finance Webcast Series: Economic Development & Bond Finance
February 20, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, panelists will share how communities can use bonds in conjunction with tax increment financing, federal legislative programs, and other development financing tools for an array of projects.

Energy Finance News

PACE Loan Group Arranges $4.4M C-PACE Loan for Northern California RV Resort
Rebusiness Online | Feb. 1 | Energy Finance | Property Assessed Clean Energy (PACE) | Water Finance

Sustainable Fintech Startup Crux Raises $18M for Clean Energy Tax Credit Platform
ESG Today | Feb. 1 | Energy Finance | Tax Credits

Peachtree Group Approaches $750M in C-PACE Financing
businesswire | Jan. 29 | Energy Finance | Innovation Finance | Property Assessed Clean Energy (PACE)

Washington NRCS Clears Backlog Using Inflation Reduction Act Funds
Capital Press | Jan. 24 | Energy Finance | Incentives | Tax Credits | U.S. Dept. of Agriculture (USDA)

USDA Invests $207M in Clean Energy and Domestic Fertilizer Projects for Farms
U.S. Department of Agriculture | Jan. 22 | Access to Capital | Agriculture Finance | Energy Finance | Food Systems Finance | Green Finance | Legislative | U.S. Dept. of Agriculture (USDA)

USDA Awards New Hampshire and Vermont $5.2M for Rural Energy
Morning Ag Clips | Jan. 22 | Access to Capital | Development Finance Toolbox | Energy Finance | Legislative | Rural Development | U.S. Dept. of Agriculture (USDA)

Treasury, IRS Release Additional Guidance for EV Charging Infrastructure Incentives
American Public Power Association | Jan. 22 | Energy Finance | Federal | Tax Credits

U.S. Energy Tax Credit Trading Grows to $9B
Reuters | Jan. 16 | Energy Finance | Tax Credits

$15M from Rhode Island Drinking Water State RLF to Finance Water Meter Replacements
Providence Business News | Jan. 15 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Chester, WV May Issue $1.7M Replacement Bond for Water Infrastructure
The Review | Jan. 11 | Bond Finance | Water Finance

Mashpee, MA to Receive $50M from the State Clean Water RLF
The Mashpee Enterprise | Jan. 10 | Infrastructure Finance | Revolving Loan Funds (RLFs) | Water Finance

Mesa, AZ Receiving $12M to Expand Electric Vehicle Charging Network
KTAR News | Jan. 9 | Access to Capital | Energy Finance | Green Finance | Infrastructure Finance | Legislative | U.S. Dept. of Transportation (DOT)

Oneida County, NY Receives $708K to Install Electric Vehicle Charging Stations
Office of U.S. Senator Schumer | Jan. 9 | Access to Capital | Development Finance Toolbox | Energy Finance | Green Finance | Legislative | U.S. Dept. of Transportation (DOT)

Company Building Louisiana Solar Panel Factory Sells $700M in Tax Credits
Louisiana Illuminator | Jan. 8 | Energy Finance | Tax Credits

List of EVs Eligible for Federal Tax Credit Drastically Shrinks
Yahoo! Sport | Jan. 8 | Energy Finance | Green Finance | Tax Credits

IRS Announces New Pre-filing Tool for Tax Credits on Energy Projects
BNN | Jan. 8 | Energy Finance | Tax Credits



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 visit 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

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • 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
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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