Join us on Thursday, November 3 at the CDFA National Development Finance Summit, Presented by CHFA for a session on funding opportunities made available through the Infrastructure Investment and Jobs Act. Learn about the new programs available to invest in various areas such as roads, bridges, power and grid, passenger and freight rail, and broadband.

Standard Real Estate Investments plans to advance a previously entitled mixed-use redevelopment with roughly 1,500 residential units and 120,000 square feet of retail. About 300 units would be affordable, developed with NHT Communities. Northeast Heights is located within a federal opportunity zone and the project has been discussed as a potential recipient of tax-increment financing support.

Mayor Lori Lightfoot's administration proposes to use property tax revenue generated downtown to fund the $3.6 billion extension of the CTA's Red Line. The proposal from Lightfoot's administration would create a new tax-increment financing district along the southern branch of the CTA Red Line to generate $950 million for the project by funneling a portion of the increase in property tax revenues for the next 25 years.

Billings City Council approved $110,200 in tax increment finance assistance for the rundown and blighted complex of housing. City Council approved $745,000 in tax increment finance assistance for the old three-story Billings Hardware building. The $7.4 million project will redevelop the building into a 24-unit apartment complex atop ground floor retail shops.

The historic Jefferson Arms building, which was originally built for the World's Fair, will be divided between apartments and hotel rooms. Dallas-based Alterra Worldwide has been working since 2016 on a plan to convert the massive landmark into a $100 million mixed-use project. The city previously granted the project $17.3 million in tax-increment financing.

A federal grant program awarded to Jackson County in Michigan could help the city turn brownfield sites into thriving businesses. Brownfield Tax Increment Financing help redevelopers of environmentally contaminated sites assess what needs to be cleaned up. The Jackson County Brownfield Redevelopment Authority has already turned countless businesses from eyesores to popular attractions, like Klavon's Pizzeria and Pub.

Minus $12 million in government grants and $5 million in private funding, a city bond of $48 million in tax increment financing-backed bonds makes up the balance of the funding. That revenue is derived from an additional tax on new development and rising property values in the area immediately surrounding the 53-acre city-owned property west of U.S. 41 between Boulevard of the Arts and 10th Street.

The Stark County Port Authority is moving forward with plans to issue bonds to help finance the ongoing development of Hall of Fame Village powered by Johnson Controls. The bonds are separate from a $5 million loan — approved by the port authority in August — for the Hall of Fame Resort & Entertainment Co. from a new Stark County revolving loan fund.

CDFA // BNY Mellon Development Finance Webcast Series: Funding Childcare Facilities
Tuesday, November 15, 2022 - 2:00 PM - 3:00 PM Eastern

CDFA-Bricker Webinar Series: PACE and Traditional Lending Institutions
Tuesday, November 22, 2022 - 2:00 PM - 4:00 PM Eastern

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