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Development Finance Review Weekly - April 13, 2023

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Development Finance Review Weekly
April 13, 2023
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CDFA Development Finance Review Weekly

Features

Learn About Access to Capital Tools in the Next Food Systems Finance Webinar Series!
CDFA is excited to present Access to Capital Tools & Food Systems during the next installment of the CDFA Food Systems Finance Webinar Series on Tuesday, April 25 at 2:00 PM ET. During this session, speakers will discuss how specific finance tools can be used to strengthen local and regional food systems, address some of the challenges that come with financing this sector, and highlight successful case studies. Register today!

Impact Muni Bond: Kansas City, MO Sustainable Light Rail to Improve Downtown Mobility
A recent $66 million Kansas City Bond issuance is supporting financing of what could ultimately cost $350 million (with federal funding included) for a 3.5-mile extension of the Kansas City Streetcar, expanding downtown to the community's University of Missouri – Kansas City campus. The Kansas City Streetcar has been the center of attention for residents, especially as the city's local economy booms.

Join Us for the Upcoming SSBCI Coalition Meeting
Join CDFA's monthly SSBCI Coalition meeting on Friday, April 21 at 1:00 PM ET to gain SSBCI updates. Facilitated discussions will provide CDFA members with a great opportunity for networking, peer knowledge sharing, and problem-solving. CDFA delivers breaking news and insights to coalition members first, ensuring their ability to maximize SSBCI strategies. Free for CDFA Members!

Alaska Introduced Legislation for Renewable Energy and Conservation Project
Gov. Mike Dunleavy has introduced legislation to create a new financing entity for smaller-scale energy conservation and renewable energy projects aimed mainly at the residential and commercial or institutional building level. Senate Bill 125 and House Bill 154 would have the state housing corporation, the Alaska Housing Finance Corp., create a subsidiary to handle the new financing. If the legislation passes, home and building owners would be able to borrow at interest rates and loan terms more competitive than conventional commercial bank loans available today.

Hays CISD in Texas Calls $367M May Bond, Largest in Its History
A $367 million bond slated to fund academics, fine arts, technology, and more will be on the ballot for Hays CISD voters on May 6, 2023. The board of trustees called for the district's 10th and largest bond in its history on February 13. If approved in any capacity, the bond will not increase the district's tax rate, according to the district.

Macon, GA has $7.5M for Affordable Housing
The effort to increase the affordable housing inventory in Macon, GA is propped up by a $7.5 million revolving loan fund county commissioners voted to establish in January. The Macon-Bibb County Affordable Housing Fund is managed by the housing fund nonprofit and paid for with a portion of the nearly $76 million in federal dollars the county received under the American Rescue Plan Act.

SSBCI Funds Help Florida Lead Small Business Creation
In a new study conducted by Capital on Tap, Florida was named the best state to start a small business, with the credit lender pointing to the state's 5.5 percent corporate tax rate and an abundance of jobs created through startup companies. This is helped by the $488.4 million from the U.S. Treasury under the State Small Business Credit Initiative (SSBCI). 

U.S. Department of Energy Announces $72M for Clean Energy Jobs
The U.S. Department of Energy (DOE) announced 5 higher education institutions to serve as Centers of Excellence for DOE's Industrial Assessment Centers (IAC) Program and will receive a combined $18.7 million in funding from the Bipartisan Infrastructure Law. DOE also announced a $54 million funding opportunity to expand the IAC Program to community colleges, trade schools, and union training programs, and create new Building Training and Assessment Centers at higher ed institutions.

Upcoming Events
Intro Revolving Loan Fund Course
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Illinois' Rating Upswing Gives State's Public Universities a Boost
Moody's Investors Service last month upgraded Illinois State University's issuer and auxiliary facilities system ratings to A3 from Baa1 and its certificates of participation rose two notches to A3 from Baa2. The upgrade impacts $194 million of debt and further action could be coming.

Rising Construction Costs Nibble at Federal Infrastructure Funds
Add stress in the regional banking sector to the bevy of pressures facing the construction industry. Small and medium banks are tapping the brakes on construction loans as they struggle to manage interest rate-related pressures that sparked some failures.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. The Bond Buyer offers CDFA State and Local Members a 55% discount off of the Issuer Rate. Contact CDFA for more information.

Upcoming Webcasts

CDFA // BNY Mellon Development Finance Webcast Series: Utilizing TIF with Brownfield Redevelopment Projects
April 18, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, TIF experts will introduce this financing tool and explore new strategies that local governments are employing to bring investment to otherwise unusable spaces.

CDFA Food Systems Finance Webinar Series: Access to Capital Tools & Food Systems
April 25, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Food Systems Finance Webinar Series, we will explore how these tools can be used in strengthening local and regional food systems and address some of the challenges that come with financing this sector.

SSBCI Learning Series - Insights on SSBCI 2.0 Program Implementation
April 27, 2023 - 2:00 PM - 4:00 PM Eastern

This Week's Headlines

FARRMS Offers Opportunities in Sustainable Agriculture in North Dakota
Minot Daily News | Apr. 12 | Access to Capital | Agriculture Finance | Education | Rural Development

How Community Solar Could Revolutionize Clean Energy Access in California
Imperial Valley Press | Apr. 12 | Energy Finance | Housing Finance

Iowa EDA Approves Funding for Three Innovation Startups
Iowa EDA | Apr. 11 | Access to Capital | Disaster Recovery & Relief | Innovation Finance | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | State Small Business Credit Initiative (SSBCI)

North Carolina Venture Capital has up to $50M to Offer in SSBCI Funds
WRAL Tech Wire | Apr. 11 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | State Small Business Credit Initiative (SSBCI)

Clearway Energy Group Closes Financing on Two California Solar and Storage Projects
Utility Dive | Apr. 10 | Energy Finance

Covington, KY Report Details Positive Economic Progress for City in 2022
Link NKY | Apr. 10 | Economic Development | Local Finance Program | Redevelopment | Tax Increment Finance (TIF)

Harris Promotes Huge Community Solar Deal in Georgia Visit
WTOP | Apr. 10 | Community Development | Energy Finance | Green Finance

Second Zen-Inspired Senior Living Community in Simi Valley, CA
McKnights Senior Living | Apr. 10 | Bond Finance | Community Development | Housing Finance

State to Provide Financing for Stonington, CT Pier Project
Patch | Apr. 10 | Bond Finance | Infrastructure Finance

USDA's $9.7B for Rural Co-ops Could Leverage 20 GW of Clean Energy
pv magazine | Apr. 10 | Energy Finance | U.S. Dept. of Agriculture (USDA)

Why Climate-Smart Agriculture Needs a Green Bank
Agri-Pulse | Apr. 10 | Access to Capital | Agriculture Finance | Green Finance | Resiliency

North Dakota Makes Angel Match Investments with SSBCI Funds
KXNET | Apr. 8 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | Angel Investment | State Small Business Credit Initiative (SSBCI)

Delaware Program Funds Poultry House Removal
Farm Progress | Apr. 7 | Access to Capital | Agriculture Finance | State Finance Program

S2G Ventures Launches New Fund to Offer ‘Flexible' Financing for Cap-Intensive Climate-Tech Startups
AFN | Apr. 7 | Access to Capital | Agriculture Finance | Energy Finance | Innovation Finance | Resiliency | Venture Capital

USDA, SBA, and FDIC Partner to Foster Economic Growth for Small Businesses, Farmers, and Ranchers in Southern States
USDA | Apr. 7 | Access to Capital | Agriculture Finance | Economic Development | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | U.S. Small Business Administration (SBA)

U.S. Department of the Treasury Updates SSBCI FAQs
U.S. Department of the Treasury | Apr. 7 | Access to Capital | Disaster Recovery & Relief | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI)


National Sponsor Spotlight

Business Oregon Business Oregon
Business Oregon works to create, retain, expand, and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding, and support of economic opportunities for Oregon companies and...
Cirrus Secure Cirrus Secure
Cirrus provides a cloud-based document collection portal that helps specialty finance agencies streamline their loan and investment processes. Using robotic process automation, Cirrus orchestrates complex workflows to keep all parties engaged and...
CohnReznick CohnReznick
With origins dating back to 1919, CohnReznick is the 11th largest accounting, tax, and advisory firm in the United States, combining the resources and technical expertise of a national firm with the hands-on, entrepreneurial approach that today's...

CDFA Bookstore

Cover thumbnail Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency
The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.

New Members

Drexel University - Philadelphia, PA

KI GROUP - Saipan, MP

SC Regional Housing Authority # 3 - Barnwell, SC

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
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
Become a Sponsor