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CDFA Revolving Loan Fund Finance Update - December 13, 2016

Revolving Loan Funds Update
December 13, 2016
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Revolving Loan Fund Finance Update

Features

Manchester Development Corp RLF Efforts Paying Off
Manchester Development Corp. officials are touting the downtown Manchester restaurant XO on Elm as the latest "success story" through the agency's revolving loan fund. The restaurant received a $35,000 loan from the fund in 2013.

SEIRPC Awards $550K Loan for Brad Mills
The terms of the RLF include a 10-year amortization at 4 percent interest. Norris pointed out the $550,000 awarded Mills was the largest RLF approved in SEIRPC's history.

Pittsburg Approves $1.5M of RLF Money to be Provided as a Contribution
Pittsburg City Commissioners approved the city investing $1.5 million in a student housing project. The money will come from the revolving loan fund in two installments of $750,000. Although it comes from the revolving loan fund, the money is a contribution and will not be repaid.

EDA Proposes New Rules for RLF Program
EDA is proposing important changes to the regulations governing the RLF program that are intended to reflect current best practices and strengthen EDA's efforts to evaluate, monitor, and improve RLF performance.

Memphis RLF Used to Improve Downtown Sidewalks
A Downtown Memphis Commission board Wednesday approved a $50,000 revolving loan fund for sidewalk repairs in the central section of Downtown. Loans will be limited to $5,000, but are expected to average about $1,000.

RLF Supports Ulster County's Food and Beverage Cluster
Ulster County Executive Mike Hein was joined by government officials, local farmers and growers, food distributors, craft food and beverage producers, and representatives from the agri-business sector to support and recognize the growing food and beverage cluster in Ulster County.

DFA of Summit County Attempting to Create a New Akron RLF
A new fund designed to spur economic development in Akron is having trouble attracting donations and hasn't yet gotten off the ground. The DFA only has $2.25 million of the $4.5 million that's needed to start the Targeted Loan Fund.

Headlines

$23.5M Loan Provided to City of Cayce for Drinking Water Infrastructure
Columbia Star | Dec. 6 | Infrastructure Finance | Revolving Loan Funds (RLFs)

Bethlehem RDA Pursues $500K Grant to Capitalize RLF
The Morning Call | Dec. 6 | Revolving Loan Funds (RLFs)

Green Bay Stadium RLF Awards Revised
Green Bay Press-Gazette | Dec. 6 | Community Development | Economic Development | Revolving Loan Funds (RLFs)

Ogdensburg Growth Fund Writes Off $200K in City Debt
Watertown Daily Times | Dec. 1 | Revolving Loan Funds (RLFs)

Packard Plant Redevelopment Could Start Next Spring
Detroit Free Press | Nov. 30 | Brownfield Financing | Revolving Loan Funds (RLFs) | Tax Credits



The Council of Development Finance Agencies (CDFA) 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 www.CDFA.net or email 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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