Development Finance Review Weekly - November 1, 2018
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Feature |
CDFA Consults on Redevelopment of Historic Pajama Factory in Williamsport, PA
CDFA is pleased to release the latest Roadmap to Redevelopment report for the Pajama Factory in Williamsport following a site visit in August. The report provides financing strategies to accelerate the redevelopment of an eight-building complex into a creative community featuring artist residences and work studios, retail opportunities, and event space.
Fifth Third Bank Ups CRA Pledge by $2B Amid Chicago, IL Expansion
Fifth Third Bancorp has announced plans to increase its community development pledge by $2 billion, to a total of $32 billion, as the Cincinnati company looks to expand in Chicago. The expansion marks the second time in two years that Fifth Third has upped its pledge to invest in underserved neighborhoods.
Nuclear Company Readies $130M Investment in Northeast OH
BWX Technologies Inc. of Lynchburg, VA, announced that it would pull the trigger on investing more than $130 million in the Barberton and Euclid operations of its BWXT Nuclear Operations Group. The company will receive state job creation tax credits, state economic development grants, and property tax abatements
VCs Hit Snag in Proposed OZ Regulations
The recently proposed Opportunity Zones guidelines require that businesses generate at least half their gross income within an Opportunity Zone. According to various investors and venture capitalists, the 50 percent requirement will hurt high-growth startups.
JEDA Bonds Assist MUSC Foundation in SC
The South Carolina Jobs-Economic Development Authority (JEDA) has issued a $15,755,000 economic development revenue bond to secure favorable permanent financing by the MUSC Foundation for the acquisition of an office facility and a surface parking lot for the benefit of the Medical University of South Carolina.
The Big Five: Key Tax Credits and Public Incentives
When planning a new facility, accessing public incentives can help a company to leverage capital and receive a higher return on its investment. The five most relevant public finance programs are Property Assessed Clean Energy (PACE) financing, Opportunity Zones, Historic Tax Credits, New Markets Tax Credits, and Tax Increment Financing.
Five Great Initiatives That Municipal Bonds Financed
For over 100 years – since the original tax code was written in 1913 – state and local governments have financed public infrastructure with municipal bonds. From housing to railways to schools, this article discusses five significant green infrastructure initiatives funded by municipal bonds.
Much-Awaited Guidelines Opening the Opportunity Zone Floodgates
Tis the season for Opportunity Zone investing. The new tax incentive to invest in economically distressed areas was already drawing significant interest before Oct. 19, the day when the Internal Revenue Service (IRS) proposed key guidelines that many were waiting upon to begin making their cash available for investment in designated Opportunity Zones.
Fredericksburg, VA Eyeing Clean Energy Financing Program
The Fredericksburg City Council is eyeing C-PACE for a proposed multipurpose stadium in Celebrate Virginia South. The C–PACE program would give local banks the option of granting landlords and developers a minimum $20,000 loan for a maximum of 20 years for such things as solar facilities, Energy Star-rated heating and air conditioning systems.
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News from |
The latest municipal finance headlines from The Bond Buyer.
IRS Says Some Advance Refundings OK
The Internal Revenue Service is publicly affirming that last year's tax law changes do not preclude the issuance of tax-exempt bonds to advance refund non-tax-advantaged, taxable bonds. The assurances were made in an IRS Chief Counsel Memorandum released on October 26.
Detroit, MI Metro Airport Deal Mixes New Money and Refunding
Detroit's airport hits the market next week with $240 million of new money and refunding airport revenue bonds. Wayne County Airport Authority, which manages Detroit Metropolitan Airport and Willow Run Airport, plans to issue $155 million of new money bonds that are not subject to the alternative minimum tax and $6.4 million subject to AMT.
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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Job & RFP Postings |
Hiring: Procurement Officer - Lafayette Housing Authority
The Lafayette Housing Authority is seeking a Procurement Officer. The Procurement Officer performs all procurement-related tasks in accordance with established Housing Authority policies and procedures, applicable state and local laws, and the Department of Housing and Urban Development (HUD) Procurement guidelines.
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This Week's Headlines |
MN PFA Approves Over $31.47M in Funds
MN DEED | Nov. 1 | Infrastructure Finance
Wilmington, DE Planners Talk Brownfield Redevelopment Plan
Delaware Public Media | Nov. 1 | Brownfield Financing
Newport, RI Properties Awarded $250K Each for Remediation/Redevelopment
NEWP | Nov. 1 | Brownfield Financing
WEDC Awards Grant to Support Startup Businesses in Southeastern WI
Urban Milwaukee | Oct. 31 | Incentives | Innovation Finance
Good Food Access Program Equipment Grants Available in MN
The Green Sheet Farm Forum | Oct. 31 | Food Systems Finance
SBA Approves 1,766 Loans in CO for FY 2018
The Colorado Springs Business Journal | Oct. 31 | Access to Capital
Smithville, TX Will Save with New Bond Issuance
Statesman | Oct. 31 | Bond Finance
IRS Proposes Regulations for OZ Tax Incentives
Clark Schaefer Hackett | Oct. 30 | Federal | Opportunity Zones
Democrats Eye Push for Infrastructure Plan If They Retake House
Bloomberg | Oct. 30 | Infrastructure Finance | Legislative
$15M Infrastructure Project in Yonkers, NY Completed
News 12 Westchester | Oct. 30 | Federal | Infrastructure Finance | State Finance Program | Urban Development
Infrastructure Project Underway in Hattiesburg, MS
WDAM 7 | Oct. 30 | Infrastructure Finance | Water Finance
NE Council to Consider Southeast Beltway Agreement, Utility Bond Issue
Fremont Tribune | Oct. 30 | Bond Finance | Infrastructure Finance | Water Finance
AZ Continues to Benefit from Municipal Bonds
Phoenix Business Journal | Oct. 30 | Bond Finance
Voters in Philadelphia, PA to Decide on City's $181M Bond Issuance
The Philadelphia Tribune | Oct. 30 | Bond Finance
A $58M Public Infrastructure Facelift Proposed in O'Fallon, IL
Belleville News-Democrat | Oct. 30 | Infrastructure Finance | Urban Development | Water Finance
Using TIF, Rochester, NY Plants the Seeds to Help Downtown Reach Full Bloom
The Med City Beat | Oct. 30 | Tax Increment Finance (TIF)
OH Projects Expected to Create More than $889 Million in New Investments
Office of the Governor of Ohio | Oct. 30 | Tax Credits
New Smyrna Beach, FL Voters Weigh $15M for Preservation
The Daytona Beach News Journal | Oct. 29 | Bond Finance
Augusta University Health System Closes on $85M in Tax-Exempt Bonds in GA
Augusta Chronicle | Oct. 29 | Bond Finance
Can a $50M Bond Stimulate Affordable Housing Development in Charlottesville, VA?
The Cavalier Daily | Oct. 26 | Bond Finance
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National Sponsor Spotlight |
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KeyBanc Capital Markets
KeyBanc Capital Markets is an investment banking firm serving issuers of tax-exempt debt for over 40 years. Their team identifies opportunities, designs financing structures and develops an array of solutions that meet and exceed clients' financial...
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Kutak Rock LLP
Kutak Rock LLP is a national law firm of more than 500 lawyers with offices from coast to coast. The firm's primary practice concentrations are business and corporate law, public finance, litigation and real estate law, with numerous areas of...
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MB Financial Bank, NA
MB has a 100+ year history of building deep and lasting relationships with public and private companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their...
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Partner Spotlight |
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The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its web site, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...
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CDFA Bookstore |
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Advanced Bond Finance Reference Guide
The Advanced Bond Finance Reference Guide is written for professionals who already have an understanding of tax-exempt financing and seek detailed instruction on complex financing techniques.
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New Members |
Vitalyst Health Foundation - Phoenix, AZ
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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 about CDFA, visit www.cdfa.net or e-mail info@cdfa.net.
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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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