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CDFA Energy and Water Finance Newsletter
October 17, 2017
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Energy & Water Finance Update

Features

SELF Awarded US CDFI Fund Grant
The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) has awarded the non-profit Solar and Energy Loan Fund (SELF) a $124,957 grant to expand its operations into more low-wealth and working class communities throughout the Sunshine State.

Maine Water Company Requests $24.5M WIFIA Loan for Water Treatment Facility
The privately held Maine Water Company will construct a new 20 millions of gallons per day water treatment facility to replace the existing facility built in 1884. This project will provide public water service to the coastal municipalities in York County, Maine; improve system processes, redundancy, resiliency, and sustainability; and allow for expansion to serve neighboring water systems in southern Maine, consistent with Southern Maine Regional Water Council master plan.

San Diego Requests $492M WIFIA Loan for Water Recycling Project
The City of San Diego will construct the North City pure water facility to produce 30 millions of gallons per day of purified water production by 2021. This is the first phase in its multi-year Pure Water program. The project will use proven technology to clean non-potable recycled water into safe, high-quality, drinking water.

Plant Vogtle Expansion Wins $3.7B in U.S. Loan Guarantees in GA
U.S. Secretary of Energy Rick Perry on Friday announced the U.S. government will provide up to $3.7 billion in loan guarantees to further support the construction of two nuclear reactors at Plant Vogtle in Georgia.

New Tool Helps Rank State and Local Energy Policies
A new tool developed by the American Council for an Energy-Efficient Economy includes comprehensive information on energy efficiency policies currently implemented at the state and local level. The database tracks policy activity across multiple sectors, including government, utilities, transportation, etc.

Indiana Finance Authority Selling Green Bonds
The Indiana Finance Authority plans to issue $141 million of state revolving fund new money and refunding bonds which will carry a green bond designation. $21 million of the issuance is earmarked to fund eligible projects that would improve the quality of Indiana's drinking water and water supply.

FL Solar Program Offers Wholesale Prices and 100% Upfront Financing
The Sun$avers program is the first of its kind to offer bulk-rate solar PV pricing, coupled with 3 local clean energy-financing programs – all of which provide 100% upfront financing options to homeowners, businesses, industries, and farms in St. Lucie County. SELF has also developed special financing programs and rates for veterans, women, working class families, and people with poor credit. Through the Sun$avers program, St. Lucie County property owners can buy or finance solar PV panels at about 30-40% lower costs than the current average price in Florida.

EPA Grants $14M for the Vermont SRF and Water Infrastructure
The U.S. Environmental Protection Agency on Monday announced a $14.7 million federal water infrastructure grant to the State of Vermont. The funds will be used to upgrade sewage plants and drinking water systems throughout the state, according to a press release from the EPA. About half of the money will go to a state loan program — the Clean Water State Revolving Fund — which is administrated by the Vermont Department of Environmental Conservation and the Vermont Bond Bank.

Water Infrastructure Financial Leadership
The EPA has designed a document for decision makers to navigate the process of investing in water infrastructure. It will help identify what is needed for financial planning, how to fund and finance a project, and consider which strategic approaches can be used to protect local investments.

Nation's First Rated Commercial PACE Securitization Completed
Greenworks Lending announced it has closed the nation's first rated securitization of exclusively C-PACE assets. The $75 million issuance was arranged by Guggenheim Securities and TIAA Investments was the lead investor. Morningstar Credit Ratings, LLC, rated the securitization.

Ameren MO to Spend $1B on Wind Generation Projects
Ameren Missouri has outlined a more than $1 billion commitment to added renewable energy generation, helping reshape the long-term outlook of its power supply and taking what some praised as a critical, if not overdue, first step toward adopting increasingly cost-effective clean energy.

New Water District Being Formed in Nashville, NC
Survey teams are hitting the streets as part of the design phase for Nash County's new water district. N.C. Division of Water Infrastructure awarded a $3 million grant and comes with a $3 million, zero-percent loan and a $3.5 million loan not to exceed 1.9 percent for a total of $9.5 million.

Upcoming Events
CDFA National Development Finance Summit

Brownfields In-Person Project Marketplace
November, 16, 2017 - Atlanta, GA
CDFA is bringing a unique technical assistance opportunity to Georgia in conjunction with this year's National Development Fianace Summit. During the Project Marketplace, communities will be presenting their current redevelopment projects to our audience and advisors in exchange for financing recommendations specific to their projects. Summit attendees are encouraged to listen to the community presentations and engage in constructive discussions and networking. Participating communities are eligible to receive free registration for the Summit.

Intro Property Assessed Clean Energy (PACE) Finance WebCourse
December 5-6, 2017 - 12:00 - 5:00 pm Eastern
The Intro Property Assessed Clean Energy (PACE) Finance WebCourse will delve into the process of creating a PACE program for a community from start to finish. Over the span of two days, all the pieces of PACE financing are analyzed including the bond issuance needed, enhancing investor appeal, discerning the regulatory matters, the realm of market potential and more. In the long run, the lowered utility bills and increased local jobs from PACE financing will benefit residents and businesses.

Highlights from the Online Resource Database

State of the PACE Market & Energy Efficiency in Virginia
Community Development | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Redevelopment
After eight years of effort, PACE has finally launched in Virginia. Property Assessed Clean Energy (PACE) financing is taking hold across the country through several innovative programs, and Virginia is no different. Designed to support the expansion of energy efficiency, solar, water, wind power and other renewable energy installations for the benefit of commercial buildings, PACE programs capitalize reduction in energy usage by paying for property improvements through voluntary special assessments placed on property tax bills over time. Abigail Johnson of Abacus Property Solutions, Rich Dooley of Arlington County Department of Environmental Services, Susan Elliott of City of Charlottesville, Daniel Farrell of the Virginia Department of Mines, Minerals, and Energy, and Laura Franke of PFM explore the latest PACE developments in Virginia, as well as explain the basic concepts of the tool and how it is beneficial for local governments and property owners in the region.


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 visit 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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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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