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CDFA Bond Finance Update - May 17, 2022

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Bond Finance Update
May 17, 2022
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CDFA Bond Finance Update


Borough, School District in Alaska Finalizing $65M Bond Package
The future of the Kenai Peninsula Borough's aging school infrastructure could end up in the hands of borough voters this fall. The Kenai Peninsula Borough School District Board of Education earlier this month gave their stamp of approval to a $65.5 million bond package that would address capital projects at school sites throughout the district.

$20M Was Announced to Expand Affordable Rental Housing in Rural Maine
Governor Janet Mills and MaineHousing announced the launch of a $20 million program to tackle Maine's housing shortage by expanding the availability of affordable rental housing across rural Maine. The Rural Affordable Rental Housing Program will provide funding to build smaller affordable rental housing units.

North Carolina Local Government Commission Approves $1.5B in Finance Requests
The North Carolina Local Government Commission recently approved $1.5 billion in financing requests from across the state, including about $900 million for airports in Charlotte and Asheville. The LGC is chaired by State Treasurer Dale Folwell and staffed by his office, and it's tasked with monitoring the financial well-being of more than 1,100 local government units.

Carmel, IN Redevelopment Commission Took Brief Ownership of Former AT&T Site
The Carmel City Council's finance committee took a closer look May 4 at plans to redevelop the former AT&T building in Midtown with a mixed-use development. The city is considering authorizing up to $20.5 million in developer-backed tax increment financing bonds to help fund the project, with developers set to receive 95 percent of TIF revenues for the life of the bond, up to 25 years.

Colorado House Panel Passes Bill Dealing with Metro Districts' Construction Bonds
A House panel narrowly passed a bill that aims to prevent metro district developers from working both sides of a financing arrangement in which they initially approve the sale of government construction bonds on a project and then purchase them for themselves. Following several hours of testimony on House Bill 22-1363, members of the House Transportation & Local Government voted, 7-6, to send the measure to the full body for consideration.

Qualified Broadband Projects Added to Private Activity Bonds by IIJA
The need for reliable and affordable internet access has become increasingly important as the economy becomes more dependent on internet access, particularly during the last two years due to the COVID-19 pandemic. As part of the new Infrastructure Investment and Jobs Act, $65 billion was allotted for broadband infrastructure, and the legislation added a new qualified broadband projects category for use with the private activity bond program.

USDA Invests $17.5M in Vergennes, VT Water and Waste Disposal Project
U.S. Department of Agriculture (USDA) announced $17.5 million through the Water & Waste Disposal Loan & Grant Program for the City of Vergennes' water and wastewater infrastructure project. The investment will combine with $7.5 million in leveraged funds secured through the Environmental Protection Agency (EPA) and Vermont Department of Environmental Conservation.

BIS Turns to Blockchain to Drive a New Type of Green Bond
Blockchain, thanks to bitcoin's proof of work consensus mechanism, does not have the best reputation for protecting the environment, but the Bank for International Settlements' Innovation Hub is working on a new framework for green bonds that makes use of the technology.

Market Reports

Capital Market Insights
Wye River Group | May. 16 | Bond Finance | Market Reports

Weekly Market Outlook
Moody's Analytics | May. 16 | Bond Finance | Market Reports

Upcoming Events
Intro Housing Finance WebCourse

Exploring Equitable Capital Technology (EC-Tech) in Development Finance
Tuesday, May 24, 2022 - 2:00 PM - 3:00 PM Eastern
CDFA is launching our new Equitable Capital Technology Initiative, which will combine technology solutions with training and technical assistance for lenders to help increase the flow of capital to minority entrepreneurs. Equitable capital technology (or EC-Tech) is emerging as a driver of unlocking capital for small and medium-sized businesses not fit for venture capital, nor large enough for a traditional bank loan.

CDFA // BNY Mellon Development Finance Webcast Series: Racial Equity in the Bond Markets
Tuesday, June 21, 2022 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we continue a conversation sparked during last year's series with a look at new initiatives being implemented to encourage more transparency around racial equity in municipal bond offerings.

News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Buttigieg Pressed to Drop Support for California High-Speed Rail
The bipartisan infrastructure law lacks big-ticket funds for high-speed rail, but the Biden administration still hopes to see the technology developed in certain areas, Transportation Secretary Pete Buttigieg told lawmakers Tuesday.

Treasury Silent as Bond, Housing Advocates Search for Clues on New Tax Policy
A drumbeat of criticism is building over a proposed global tax regime that may hurt demand for tax-exempt debt and other U.S. tax credits. What's not clear is whether Treasury is hearing it. At issue is an implementation of the Organisation for Economic Cooperation and Development's new minimum global corporate tax rate of 15%, a deal agreed to last year by 136 countries.

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.

Bond Finance Headlines

Scott County, MO R-4 School District Approves Sale of $6.5M Bonds
Standard Democrat | May. 16 | Bond Finance

IN Council Gives Initial Approval to $6M Bond to Buy Flagship Building
The Herald Bulletin | May. 16 | Bond Finance

Bond Projects, Levy Renewals on the Ballot for 15 Oregon School Districts, Community Colleges
OPB | May. 16 | Bond Finance

Asheville and Charlotte Airports Get Approval on Over $1.5B in Financing
The North State Journal | May. 16 | Bond Finance | Infrastructure Finance

West Milford, NJ Adopts Bond to Revamp First Responder Communications
West Milford Messenger | May. 16 | Bond Finance | Community Development

Ridenour Plan for $3.5M Bond Issue for Assorted Projects Hits Council Headwind
Star Press | May. 10 | Bond Finance | Rural Development

Tri-County Mall Redevelopment in Ohio: $200M in Tax Incentives Will Help Build Upscale Apartments, Trails
WCPO 9 News | May. 9 | Bond Finance | Incentives | Redevelopment | Tax Increment Finance (TIF)

San Antonio, TX Voters Pass City's Largest-Ever Bond Program Worth $1.2B
KSAT | May. 9 | Bond Finance | Economic Development | Housing Finance | Infrastructure Finance

Shavano Park, TX Voters Approve $10M Road Improvement Bond
Community Impact Newspaper | May. 9 | Bond Finance | Infrastructure Finance

L.A. City Council Approves $64M for Affordable Housing in South L.A.
KIIS FM | May. 9 | Bond Finance | Housing Finance

Southeast Nebraska Voters to Consider $43M Bond to Build Consolidated School in Tecumseh
Lincoln Journal Star | May. 4 | Bond Finance

The Oklahoma Supreme Court Approves $800M in Bonds to Lessen Burden of Ice Storm
Tulsa World | May. 4 | Bond Finance | Disaster Recovery & Relief | Legislative

Unlocking Rural Broadband
JD Supra | Apr. 28 | Bond Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | Rural Development

Palmetto Goodwill Leverages South Carolina JEDA Financing for Four Stores and a Warehouse
JEDA | Apr. 21 | Bond Finance | Community Development

Freddie Mac Multifamily Issues $93M Social Bonds Backing Affordable Senior Housing
MPA | Apr. 19 | Bond Finance | Housing Finance | Social Finance

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

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.

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


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