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Bond Finance Update
July 17, 2018
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CDFA Bond Finance Update

Features

Municipalities Could Benefit from Issuing More Green Bonds
Yields at issue for green municipal bonds are on average 0.06 percentage points below yields paid on otherwise equivalent bonds. This is important for municipal bond issuers because it means investors may be willing to accept lower returns in order to hold bonds identified as socially responsible.

$100M CEDA Financing Supports San Francisco Conservatory of Music
Proceeds will be used to finance and refinance the cost of acquisition of real property and the construction of a new twelve-story, approximately 170,000-square-foot, mixed-use building at the northeast corner of Van Ness Avenue and Hayes Street, San Francisco.

ME Settles on $200M Borrowing Package to Send to Voters
The three proposals finalized would pay to maintain roads and bridges, underwrite projects in Maine's public higher education facilities, and fund initiatives to protect the environment from wastewater.

NH BFA Issues RFP for National Bond Administration Services
The New Hampshire Business Finance Authority invite proposals from qualified bond program administrator services firms interested in providing the Authority with Bond Program Administrator Services. Firms are invited to submit information outlining their organization's qualifications and willingness to provide the bond program administrator services

The New Gold Rush for Green Bonds
Green bonds are an emerging category of finance. Their purpose is to fund projects with clear, definable and measurable environmental benefits. The vast majority of them finance water-related projects, but they also are used to finance, for instance, solar and wind power or reduced methane emissions.

2018 CDFA Original Research - Conduit Bond Fee Study
With the help of the Minnesota Department of Employment and Economic Development and the Florida Development Finance Corporation, this national study will evaluate trends at both the state and local levels to better understand the landscape for PABs and to inform issuers about best practices related to fee structures. Fill out the survey today!

Boulder, CO Votes to Fund Citywide Broadband Network
The funding will come from the issuance of debt — a total of $15 million — and was met with high public support after a survey revealed 90 percent of respondents supported "city-owned and -operated internet" with similar numbers stating they would be "very or somewhat likely to purchase service from the city."

LCDA Issues GOMESA Bonds for Cameron Parish, LA
The Louisiana Community Development Authority has issued an $11,895,000 green bond to be used to finance additions, acquisitions, repairs and/or expansions needed for coastal restoration, protection and for other activities within Cameron Parish.

Mesa, AZ Considers $30M Issuance for Sports Complex
Mesa, AZ is considering issuing $30 million in excise bonds to pay for the planned Mesa Plays sports complex. $30 million in excise bonds would be issued to pay for 15 fields reserved for tournaments. Sales tax revenues and an increase in bed taxes would be pledged in support of the bonds.

Augusta, GA EDA Approves $68M Issuance for Recycling Plant
Allied Energy Services, a Conyers, Ga.-based alternative energy company, intends to build a recycling plant at the Augusta landfill through use of $68 million in industrial revenue bonds. The 55,000-square-foot facility would be capable of converting up to 175,000 tons of trash a year into biomass fuel.

Market Reports

Weekly Capital Markets Update
Wye River | Jul. 17 | Bond Finance | Bond Finance\Market Reports

Weekly Rate Update
KPM Financial | Jul. 17 | Bond Finance | Bond Finance\Market Reports

Weekly Market Outlook
Moody's Analytics | Jul. 17 | Bond Finance | Bond Finance\Market Reports

Upcoming Events
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News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Bonds Fund Solar Strategy in a CA City
The city of Lakeport will use bond financing to fund a series of solar projects to make the city more energy efficient. The City Council has approved a plan to issue up to $5.25 million in bonds to pay for improvements at city buildings and treatment plants. 

NJ Frees $284M for Gateway Rail Project
New Jersey's decision to assume the entire share of local costs for the new Portal North Bridge project is freeing up $284 million for other parts of the Gateway rail project, which proponents say is critical to the greater New York metropolitan area economy.

Santa Rosa, CA Considers $80-180M Housing Bond
Santa Rosa, California, is moving forward with plans for a housing bond that will help rebuilding efforts in the area still recovering from a 2017 wildfire. The City Council has agreed to consider a bond amount between $80 million and $180 million that would raise money for affordable housing projects in the city.

P3 Supports Lease-Revenue Bonds in Salinas, CA
Salinas, California, is financing new library and police station buildings through lease-revenue bonds sold through a public-private partnership. A nonprofit created to build the projects will issue $48.6 million in tax-exempt bonds for the police station and $19.35 million for the library.

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.

Bond Finance Headlines

Columbia, MO Leans on Bonds for Utility Projects
Columbia Daily Tribune | Jul. 17 | Bond Finance | Infrastructure Finance

W&L University Issues Bond for New Athletic Center
Richmond Times-Dispatch | Jul. 1 | Bond Finance

Louisville, KY Breaks Ground on Soccer Stadium
The Courier-Journal | Jun. 30 | Bond Finance | Tax Increment Finance (TIF)

Fannie Mae to Use $26M in LIHTC for NY Development
Housing Wire | Jun. 30 | Bond Finance | Federal | Tax Credits

Tax Credits, Bonds, Supports Mount Vernon, NY Development
Westfair Communications | Jun. 30 | Bond Finance | Tax Credits

Bill Passed to Make Munis a High-Quality Liquid Asset
Municipal Bonds | Jun. 28 | Bond Finance

Baton Rouge, LA Housing Complex to Use CDBG, LIHTC, Bonds
The Advocate | Jun. 28 | Bond Finance | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

Fort Wayne, IN Approves $85.5M Issuance for Water Infrastructure
The Journal Gazette | Jun. 28 | Bond Finance | Infrastructure Finance | Water Finance

DFA of Summit County, OH to Issue Bonds for Hall of Fame Village
Akron Beacon Journal | Jun. 24 | Bond Finance | Economic Development | Tax Increment Finance (TIF)

MassDevelopment Supports Business School with $25M Bond
Boston Business Journal | Jun. 21 | Bond Finance | Member News

How Government-Assisted Housing Units Become Available
Omaha World-Herald | Jun. 21 | Bond Finance | Tax Credits | U.S. Dept. of Housing & Urban Development (HUD)

Glenn Falls, NY Authorizes $3.5M Bond Issuance for Water Systems
The Post Star | Jun. 20 | Bond Finance | Infrastructure Finance | Water Finance

Baltimore, MD Mayor Seeks $102M TIF
The Baltimore Sun | Jun. 20 | Bond Finance | Tax Increment Finance (TIF)

Newport, KY Explores IRBs to Finance Skywheel
River City News | Jun. 19 | Bond Finance

GA Issuing $1.2B in GO Bonds
MuniNet Guide | Jun. 19 | Bond Finance



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

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net


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