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Development Finance Review Weekly - October 27, 2016

Development Finance Review Weekly
October 27, 2016
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CDFA Development Finance Review Weekly

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CDFA Announces Winners of the CDFA Excellence in Development Finance Awards
CDFA is proud to announce the winners of the Excellence in Development Finance Awards. These awards honor excellence in the use of financing tools for economic development. This year's recipients include Prince George's County, Lehigh Valley Economic Development Corporation, Maricopa County IDA, and MN Department of Employment and Economic Development.

CREC State Economic Development Performance Indicators
Given states' pressures to demonstrate economic development investment impact, The State Economic Development Performance Indicators White Paper, recently published by the Center for Regional Economic Competitiveness (CREC) and Smart Incentives, examines commonly used indicators and provides guidance to improve and expand evaluation efforts.

Changes in PA's CRIZ Program Provide Greater Benefits
Instead of looking at the entire zone's performance overall, the state now considers businesses individually and counts only growth in tax revenue. So if a business doesn't generate as much tax revenue as in their baseline year, the state basically ignores it.

Successful Practices for P3s
For many transportation agencies in the United States (U.S.), public-private partnerships (P3s) offer an opportunity to tap new financing sources and transfer certain project delivery risks. In a P3, a single private entity assumes responsibility for multiple phases, accepting long-term risks in return for prospective rewards.

KY Ag Development Board Approves $2M for Ag and Rural Development
The Kentucky Agricultural Development Board approved $2,021,595 for 15 agricultural diversification and rural development programs at its monthly board meeting.

California's First Film Tax Credit Program
In this report, California's Legislative Analyst's Office evaluate the economic effects and the administration of the first film tax credit program passed in 2009.

Starting and Operating a Business in Garrett County, MD
This guide is designed to help find answers in Garrett County, Maryland to the many questions which may arise when developing a new business idea or expanding current business.

Upcoming Events
CDFA's 30th National Development Finance Summit
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

FINRA Examiners Probing Firms' Involvement with Bank Loans
Financial Industry Regulatory Authority examiners are probing firms' involvement with bank loans and other alternative financings in the municipal market, a FINRA official said at an industry seminar here.

SEC Will Tell All MCDC Submitters If They Face Enforcement Action
While the Securities and Exchange Commission remains silent on whether there will be more settlements under its continuing disclosure enforcement initiative, an SEC official said any party that voluntarily submitted potential violations will be told whether the commission plans to take action against them.

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.

CDFA Spotlight

CDFA Releases Report for the Eagle Mill Redevelopment Project in Lee, MA
CDFA is excited to release the Roadmap to Redevelopment report prepared for the Eagle Mill Redevelopment Project in Lee, MA. Project Response Team site visits are available through CDFA's Brownfields Technical Assistance Program, funded by the U.S. EPA

Upcoming Webcasts

CDFA // BNY Mellon Webcast Series: Post-Election Development Finance Landscape
November 15, 2016 - 1:00 pm Eastern
With the 2016 elections now behind us, it's time to evaluate the current development finance landscape and unpack how the election results will affect our industry going forward. Learn from CDFA's Capitol Hill insiders about the post-election development finance landscape.

This Week's Headlines

Former High School Redevelopment in KC to Get Tax Abatement
Kansas City Business Journal | Oct. 27 | Economic Development | Redevelopment

Proposed Soybean Processing Plant Receives Approval for $10M Tax-Exempt Revenue Bonds
Watertown Daily Times | Oct. 27 | Bond Finance | Infrastructure Finance

Colorado RTD to Issue $197M in Bonds
The Bond Buyer | Oct. 27 | Bond Finance | Infrastructure Finance

Alberta Bair Project Backers Seek $5 million From Downtown TIF District
Billings Gazette | Oct. 26 | Tax Increment Finance (TIF)

Tax Incentives are Focus Point of House Tax Policy Review Committee in SC State House
JD Supra | Oct. 26 | Incentives | Legislative

CA Awards Green Commuter $250K State Tax Credit to Expand Electric Car Sharing
Business Wire | Oct. 25 | Green Finance | Tax Credits

Larry J. Kosmont Receives a CBPA Champion of the Industry Award
Kosmont Companies | Oct. 25 | Economic Development

Commonwealth Finance Authority Announces $6M in Venture Finance
PA DCED | Oct. 25 | Access to Capital | Innovation Finance

20-Acre Brownfield to be Redeveloped in Reading PA
Lehigh Valley Business | Oct. 24 | Brownfield Financing | Redevelopment

How Hurricane Matthew Disaster Declaration Affects LIHTC Developments
Novogradac & Co LLP | Oct. 24 | Bond Finance | Disaster Recovery & Relief | Tax Credits

MA Designs Program to Increase Access to Local Food
Eco RI News | Oct. 24 | Agriculture Finance | Food Systems Finance

Mount Franklin Foods Expected to Bring $10M in New Capital Investments in SC
AreaDevelopment | Oct. 24 | Economic Development | Food Systems Finance

USDA Grant Targets Small Business Development in Rural MO
KSMU | Oct. 24 | Economic Development | Rural Development | U.S. Dept. of Agriculture (USDA)

Cedar Rapids Projects Receive $2.6M in Tax Credits
The Gazette | Oct. 24 | Brownfield Financing | Tax Credits

DEED Announces $890K for 5 Redevelopment Projects
Minnesota DEED | Oct. 24 | Redevelopment

Bills Would Streamline Brownfield Redevelopment
Record Eagle | Oct. 21 | Brownfield Financing

Council Approves TIF for New HDR Headquarters; Work to Begin 'Very Soon'
Omaha World-Herald | Oct. 21 | Infrastructure Finance | Tax Increment Finance (TIF)

Fairfield Eyes $109M in Improvements for Proposed District
McNaughton Newspapers | Oct. 21 | Infrastructure Finance | Special Assessment Districts

Keeping Shreveport's Old Buildings Alive with Tax Credits
The Shreveport Times | Oct. 21 | Historic Preservation | Revolving Loan Funds (RLFs) | Tax Credits

FL Creating More Resilient Communities with PACE
PR Newswire | Oct. 21 | Energy Finance | Green Finance | Incentives | Redevelopment

Oak Park Borrows $10M for Capital Projects
Chicago Tribune | Oct. 20 | Bond Finance | Infrastructure Finance


National Sponsor Spotlight

Ballard Spahr LLP Ballard Spahr LLP
Ballard Spahr is a national firm with more than 500 lawyers in 14 offices in the United States. They provide results-driven counsel and exceptional service in Litigation, Business and Finance, Real Estate, Intellectual Property, and Public Finance.
Bank of America, Merrill Lynch Bank of America, Merrill Lynch
Bank of America Corporation is one of the largest financial institutions, serving consumers, small, middle-market, large businesses and governments with a full range of commercial and investment banking, asset management, and other financial and...
BNY Mellon BNY Mellon
BNY Mellon is the world's leading provider of corporate trust and agency services, administering $28.5 trillion in outstanding debt from 69 locations in 39 countries.

Partner Spotlight

informANALYTICS by Center for Governmental Research informANALYTICS by Center for Governmental Research
The Center for Governmental Research (CGR) is a nonprofit organized under section 501(c)(3) of the Internal Revenue Code. CGR brings expertise to issues spanning economics and public finance, government management, health and human services and...

CDFA Bookstore

Cover thumbnail Federal Financing Reference Guide
The Federal Financing Reference Guide is the most comprehensive resource available for assessing federal economic development financing programs. The guide gives an overview of each federal economic development financing program available.

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


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor