Development Finance Review Weekly - August 24, 2017

Development Finance Review Weekly
August 24, 2017

Feature

Reforms May Be Needed to Better Track Volume Cap

The difficulty of tracking how states are allocating private activity bonds under their volume caps begs the question of whether reforms are needed. "There is some question with regard to is it time for volume cap reform," said Pete Mathews, CDFA's manager of research & resources.

Historical Tax Credit Uncertainty Halts Redevelopment Projects in WI

Gov. Walker wants to put a $10 million cap on the credits and add a provision that would take way any credits promised to a developer if certain job requirements aren't met. Uncertainty has already halted two projects in Green Bay.

IRS Focuses on Tax Exempt Financings Involving Developers

For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has characterized as "developer-driven deals" involving the use of tax-exempt bonds.

Governments Are Turning to Banks for Easy Money

In the years since the Great Recession, state and local governments have increasingly borrowed money directly from banks instead of issuing public bonds. They say direct loans aren't as much of a hassle as issuing bonds. That may be true, but they're also riskier.

CultureBank: A New Paradigm for Community Investment

Building on the concept of creative placemaking, this paper presents an idea for a CDFI organized around art: CultureBank. Housed at Yerba Buena Center for the Arts, this nonprofit bank will specialize in unleashing asset value in art collections and focus on artists as borrowers, or Artist-Entrepreneurs.

MI Department of Agriculture Announces $4.7M in Incentives

The Michigan Dept. of Agriculture and Rural Development will begin to deploy $4.7 million for its Food and Agriculture Investment Program, which it operated as a pilot project in the current fiscal year. The program marks the first time the state has offered an incentive targeted specifically at agribusinesses.

Upcoming Events

News from

The latest municipal finance headlines from The Bond Buyer.

NABL Urges Creation of New PABs for Infrastructure

The National Association of Bond Lawyers recommends the creation of new categories of private activity bonds and taxable, direct-pay bonds to help finance national infrastructure projects. NABL submitted their recommendations to the Trump administration and the Congressional tax writing committees.

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.

Upcoming Webcasts

CDFA // BNY Mellon Webcast Series: Financing Small Business with the SBA 504 Program
September 19, 2017 - 1:00 PM

During this installment of the CDFA//BNY Mellon Development Finance Webcast Series, you'll learn from SBA 504 Loan Program experts how to apply for financing, who should consider applying, and examples of businesses that have successfully used the 504 program in the past to grow and develop.

This Week's Headlines

>>> SEARCH HEADLINES

National Sponsor Spotlight

	FBT Project Finance Advisors LLC FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
	Frost Brown Todd, LLC Across their eight-state footprint, Frost Brown Todd, LLC offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical and legal knowledge and experience to serve a diverse client base, from global...
	Hawkins Delafield & Wood LLP Hawkins Delafield & Wood LLP is the only national law firm in the U.S. whose practice is devoted primarily to public finance and public projects. The firm has more attorneys engaged in the full time practice of public finance and projects than any...

Partner Spotlight

PORTFOL by Philadelphia Industrial Development Corporation

The Philadelphia Industrial Development Corporation (PIDC) is Philadelphia's city-wide economic development corporation. Founded in 1958 as a non-profit, joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of...

CDFA Bookstore

Tax Credit Finance Reference Guide

The Tax Credit Finance Reference Guide provides an exploratory overview of how communities can use tax credit finance programs to support economic growth. This guide examines how to effectively apply tax credits to development opportunities, and explains the basics of tax credits and the fundamentals of using these tools.

New Members

Worthington Regional Economic Development Corporation - Worthington, MN

City of Sandusky - Sandusky, OH

Kayenta Township - Kayenta, AZ

Aileron Investment Management - Tampa, FL

The District of Columbia Chamber of Commerce - Washington, DC

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.

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