Join CDFA for the Return of the Revolving Loan Fund WebCourse Week!
Revolving Loan Fund WebCourse Week is returning with the intro level on May 13-14 followed by the advanced level on May 15-16. Register for one or both of these courses to learn from experts about developing, implementing, and managing efficient and impactful revolving loan fund programs.
45L Tax Credits: A Game Changer for Affordable Housing Developers
Affordable housing developers can now benefit from 45L tax credits significantly expanded by the Inflation Reduction Act. The maximum tax credit has nearly tripled with it now being set at $5,000 per unit. Additionally, every multi-family building is now eligible regardless of height. Coordinating with Low-Income Housing Tax Credit (LIHTC) is much easier than before and developers have more of a runway to plan.
New CDFA-Bricker Graydon Webinar Series: Transforming Communities with Targeted Tools
Register now for the new CDFA-Bricker Graydon Webinar Series on Transforming Communities with Targeted Tools! This event series will highlight how targeted tools - like tax increment finance (TIF), property-assessed clean energy (PACE) finance, and special assessment districts - can be used to revitalize communities by addressing specific geographic areas and difficult-to-finance sectors within a community.
St. Paul, MN Public Schools Tapping Geothermal to Cut Emissions and Building Costs
Minnesota's second-largest school district is also one of the city's largest property owners, with 73 buildings containing more than 7.7 million square feet. New technology and federal incentives from the Inflation Reduction Act have helped convince district leaders that geothermal is among its best options for slashing emissions from school buildings.
U.S. Department of Energy Announces $180M in School Energy Infrastructure
The U.S. Department of Energy (DOE) opened applications for the 2024 Renew America's Schools Prize, which will award $180 million to districts across the country engaging in strategic partnerships to build capacity and implement energy upgrades at K-12 schools, lowering energy use and costs, improving indoor air quality, and fostering healthier learning environments. The 2024 Renew America's Schools Prize is funded by the Bipartisan Infrastructure Law.
Affordable Multfamily Complex to Break Ground Soon With C-PACE in Seattle, WA
Housing Diversity Corp. has closed debt and equity for a new multifamily residential development in West Seattle. Project financial partners include First Fed, the senior lender which provided a $5 million loan, Nuveen Green Capital as the Commercial Property Assessed Clean Energy & Resiliency (C-PACER) lender, providing a $9.74 million loan, and Citizen Mint, a private markets platform for wealth advisors, which raised $5.18 million of equity funds.
Investing in America Agenda Commits $72M to Bring Electricity to Indian Country
U.S. Secretary of the Interior Deb Haaland (Laguna Pueblo) announced $72 million to help provide electricity to homes in several tribal communities. This announcement was for the first round of funding from the Office of Indian Affairs' Tribal Electrification Program, which will provide financial and technical assistance to 21 Tribes. The funds come from President Biden's Investing in America agenda from the Inflation Reduction Act.
Historic Fairmont Breakers Hotel in Long Beach, CA Receives $122 Million
The historic Fairmont Breakers Hotel in Long Beach has received $122 million in refinancing for the refurbishment and reopening of the property. Roughly $64.5 million of that financing are bridge loans, secured by a first mortgage and historic tax credits, while the rest comes from Commercial Property Assessed Clean Energy (C-PACE) financing.
Baker Tilly Launches Compliance Solution for Clean Energy Tax Credits Under IRA
Baker Tilly, a leading advisory CPA firm, has unveiled a groundbreaking compliance solution designed to help clean energy projects maximize tax credits available through the Inflation Reduction Act (IRA) by adhering to Prevailing Wage & Apprenticeship requirements. This innovative tool aims to simplify the complex compliance landscape, offering a full suite of services to ensure organizations can fully leverage the financial benefits of the IRA's enhanced credits for clean energy initiatives.
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