CDFA is pleased to announce the release of the Annual Volume Cap Report: An Analysis of 2018 Private Activity Bond & Volume Cap Trends. The report provides complete data on the use of volume cap and the issuance of cap-subject private activity bonds nationwide. CDFA collected the information for the report from surveys and interviews with the allocating authority in each state.

New York Governor Andrew Cuomo's policy on future toll increases for the new Tappan Zee Bridge and the 570-mile New York State Thruway is casting uncertainty over the agency's outlook as it returns to the municipal-bond market.

The Opportunity Zones Priority Projects Committee, the Governor, mayors, and legislative leadership convened in an Opportunity Zones Summit to update the island's municipal leaders on opportunity zone developments in Puerto Rico. The Summit was held to educate mayors on OZ's and other tools to achieve greater economic development.

Expiring tax credits for wind and solar projects offer near-term promise and long-term uncertainty, with the U.S. wind industry on track to become the nation's fastest-growing source of electricity generation by the end of 2020 and the solar industry potentially soon following. Both face bursting bubbles due to the loss of tax incentives, but ideas are emerging on how to finance the projects, which could propel them into the next decade.

Virgin Trains USA appears ready to bring the long-discussed Las Vegas to Southern California high-speed rail project to life. Virgin is seeking $800 million in bonds to issue $2.4 billion in debt: half the amount needed to finance the trains and the 185 miles of dual tracks along Interstate 15. The amount includes $600 million in bonds from California and $200 million from Nevada.

The story and great lesson of the $192.2 million Hope Gardens portfolio acquisition and renovation can be summarized in seven words: Where there's a will, there's a way. The "way" involves the enabling Rental Assistance Demonstration (RAD) conversion of 1,321 New York City public housing units to clear the way for an ambitious and desperately needed renovation program.

Building on the state's historic actions and investments this year to tackle the housing affordability crisis, Governor Gavin Newsom signed 18 bills designed to help jumpstart housing production. Included was SB 330, major legislation aimed at removing local barriers to housing construction and speeding up new development.

HUD has released two new NOFAs for Section 811 programs. The Section 811 Project Rental Assistance (PRA) Program seeks to identify, stimulate, and support sustainable state approaches that will transform the provision of housing for persons with disabilities while providing access to appropriate supports and services.

Governors must decide whether and how Opportunity Zones fit into their priorities. Given competing demands for state funds, governors must consider the benefits of creating and modifying programs and policies against their costs to ensure they are worthwhile.

Municipal bond volume continues to accelerate, closing out the month of September 39.1% higher and the quarter 17.8% higher than a year earlier, as issuers flocked to market with taxable deals. September volume rose to $35.38 billion of municipal bonds sold in 894 transactions, from $25.43 billion in 768 issues in September 2018.

The municipal bond industry will have a window of more than two years to adjust to the phase-out of Libor under the proposed transition regulations announced by Treasury and the IRS. The long-awaited rules announced Tuesday and published in the Federal Register are subject to public comment through Nov. 25.

In this webinar, CDFA will convene financing experts from the Small Business Administration and Economic Development Administration to discuss how their respective financing and grant programs can leverage Opportunity Fund investments in Opportunity Zones. CDFA will center the discussion around SBA 504 and 7(a) Loan programs, as well as the funding programs offered by the EDA.

In this webinar, the discussion will focus on the use of PACE financing as a tool in new construction projects. Learn from industry leaders and finance experts about how C-PACE can be a tool for new commercial development. PACE as a new form of capital provides unique alternatives to close financing gaps and to replace developer equity in projects under development.

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