CDFA Bond Finance Update - April 19, 2022
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Features |
Development Incentives Headed to City Council, MO
The Independence Economic Development and Incentive Commission last month unanimously recommended approval of the incentives – Chapter 100 industrial bond tax abatement, along with sales tax exemption on construction materials. NorthPoint plans to invest more than $800 million to construct several industrial and business park buildings over a dozen years along Little Blue Parkway and Missouri 78.
McCreless Library in Texas Reopens After 2-Year, $2.5M Renovation
The renovations were made possible by the City of San Antonio's 2017-2022 Bond Program. According to the library's project budget, construction cost approximately $2.2 million, $455,097 was spent on design, $2,036 on environmental costs and $11,250 went to public art and design enhancements.
State Approves $9.5M Bond for Food Bank of Western Massachusetts
MassDevelopment has issued a $9.5 million tax-exempt bond for The Food Bank of Western Massachusetts to build and outfit a new headquarters in Chicopee. The state says the 63,000-square-foot building at the Chicopee River Business Park is expected to open in summer 2023.
Washington to Smarten Its Streetlights with LEDs, Wifi
Washington, D.C. is heading to Wall Street to get funding for a district-wide program to replace all its streetlights with LED technology and install wireless access points in order to expand broadband reach. D.C. is borrowing $154.5 million through muni green-bonds, the first public-private partnership by nation's capital.
Denver City Council Approves Bond Issuance for Voter-Approved Infrastructure Projects
Denver City Council unanimously approved a bond issuance to fund a variety of infrastructure projects approved by voters. This will allow a principal of up to $366.4 million, marking the first issuance for the RISE Denver program and the fifth for the Elevate Denver program.
Regional Utility Districts Can Help Fill Gaps in Broadband Service
Bringing broadband to rural areas is difficult because of the economics; the infrastructure is expensive to deploy, and sparse populations mean a small customer base for traditional internet service providers. Creating regional districts raises aggregate demand by combining the populations of multiple towns.
Progress Made on California Sites Reservoir Project Development
The U.S. Environmental Protection Agency (EPA) announced its intent to help fund the Sites Reservoir Project in California with a $2.2 billion loan through the Water Infrastructure Finance and Innovation Act (WIFIA) to capture and store stormwater flows from the Sacramento River.
TIF Incentive Approved for Sustainable Beef Plant in Nebraska
North Platte's Community Redevelopment Authority approved a contract with Sustainable Beef Monday, opening the door for tax increment financing for the infrastructure for a new beef processing plant. The Community Redevelopment Authority will buy the land from the city of North Platte for $142,500 and then sell it to Sustainable Beef.
IRS Guidance on Telephonic Public Hearings for Tax-Exempt PAB, Housing Credit QAPs
On March 18, the Internal Revenue Service issued Revenue Procedure 2022-20 providing permanent authority to conduct telephonic public hearings for tax-exempt private activity bonds and Housing Credit qualified allocation plans.
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Market Reports |
Weekly Market Outlook
Moody's Analytics | Apr. 18 | Bond Finance | Market Reports
Capital Market Insights
Wye River Group | Apr. 18 | Bond Finance | Market Reports
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Upcoming Events |
Intro Housing Finance WebCourse
May 23-24, 2022 - Daily: 12:00 - 5:00 PM Eastern
The Intro Housing Finance WebCourse will explore how the development finance toolbox can be utilized to support a myriad of housing challenges and opportunities as well as how development finance agencies can become key partners in housing development in their community.
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News from |
The latest municipal finance headlines from The Bond Buyer.
Broward County, Florida, Finalizes Agreement for $390M Bond Deal
Broward County, Florida, Mayor Michael Udine held a signing ceremony on Wednesday in Fort Lauderdale to finalize details for a municipal bond deal sold last month for the county's convention center headquarters hotel. Citigroup sold the $389.495 million of Series 2022 tax-exempt convention center hotel first-tier revenue bonds on March 30.
Apollo Partnership to Expand Siebert's Muni Footprint
Siebert Williams Shank, the largest minority- and women-owned business enterprise in the U.S., and Apollo, a global asset manager, have formed a strategic partnership that is expected to increase SWS's footprint in municipal and corporate debt markets.
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.
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Bond Finance Headlines |
Palmetto Goodwill Leverages JEDA Financing for Four Stores and a Warehouse
SCJEDA | Apr. 13 | Bond Finance | Economic Development
Norman Officials Seek Federal Funding to Restore Damaged Bridges
OU Daily | Apr. 13 | Bond Finance | Federal | Infrastructure Finance | U.S. Dept. of Transportation (DOT)
Rushford, MN Approves Private Bond Placement for Highway 30 Project
Fillmore County Journal | Apr. 7 | Bond Finance | Infrastructure Finance
Rural Texas Promised 10% State Bonds for Water Projects, but Report Shows Less Than 1%
The Texas Tribune | Apr. 7 | Agriculture Finance | Bond Finance | Infrastructure Finance | Rural Development | State Finance Program | Water Finance
$92M Project in Sarasota, FL Goes Vertical
Business Observer | Apr. 7 | Bond Finance | Economic Development
New Law in Michigan Saves School Districts $8M in Interest
The Center Square | Apr. 5 | Bond Finance | Legislative | Revolving Loan Funds (RLFs)
Bristol Virginia School Board Approves New School Funding Agreement
Bristol Herald Courier | Apr. 5 | Bond Finance
Commissioners Declare Bond Election to Fund New Oklahoma County Jail Facility
Oklahoma City Free Press | Apr. 5 | Bond Finance
Food Bank of Western Massachusetts Receives $9.5M in Funding from MassDevelopment for New Facility
WWLP. com | Apr. 5 | Bond Finance | Food Systems Finance
Global Tax Deal Could Have ‘Disastrous Effects,' Community Development Groups Say
Politico | Apr. 5 | Bond Finance | Community Development | Housing Finance | Incentives | Tax Credits
‘A Bet on Downtown Los Angeles.' Huge Angels Landing Project Wins Key City OK
Los Angeles Times | Mar. 28 | Bond Finance | Economic Development | Housing Finance
Should States Fund Municipal Broadband and Cooperatives?
Governing | Mar. 28 | Bond Finance | Infrastructure Finance | Rural Development
Pending Approval, Connecticut Allocates $1.3M in Funding for Innovation Workspace
Fox 61 | Mar. 23 | Bond Finance | Opportunity Zones
Brightline West, Los Angeles to Vegas High-Speed Rail Project Updates
Construction Review Online | Mar. 23 | Bond Finance | Infrastructure Finance
Financing Will Preserve 116 Affordable Apartments in Chelsea
Banker & Tradesman | Mar. 23 | Bond Finance | Housing Finance | Tax Credits
Montana County Considering Legal Services for Issuance of Municipal Bonds
The Electric | Mar. 23 | Bond Finance | Energy Finance | Green Finance
San Antonio's Largest-Ever Bond Package Will Be on the May 7 Ballot
Texas Public Radio | Mar. 23 | Bond Finance | Infrastructure Finance
Pennsylvania Announces $2.8M Investment in Next Generation of Farm Prosperity
Commonwealth of Pennsylvania | Mar. 17 | Access to Capital | Agriculture Finance | Bond Finance | Federal | State Finance Program
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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.
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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