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Development Finance Review Weekly
October 19, 2017
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CDFA Development Finance Review Weekly


CDFA & Responsible Finance Launch Transatlantic Exchange
CDFA and the U.K.-based Responsible Finance have launched a new partnership to create the CDFA/Responsible Finance Exchange. This exchange is dedicated to fostering best practices, learning, and a greater understanding of how economic development and infrastructure is financed in the two nations.

Wind and Solar's Future Hangs on Taxes, Not Clean Power Plan
Clean-energy's fiscal advantage stems in part from two tax credits that Congress extended in 2015. Both measures are scheduled to be phased out in the 2020s, but EPA administrator Scott Pruitt has called for them to be eliminated. That could upend wind and solar's edge.

Historic Newark, NJ Building Receives $14M in HTC
A redevelopment project that will convert the NJ Bell Building into a mixed-use tower has received a $71 million loan from Citi Community Capital. Citi will provide $14 million through historic tax credits, and Goldman Sachs is providing $13.5 million through various tax credit programs.

$2B ND/MN Project Being Renegotiated
The U.S. Army Corps of Engineers, North Dakota, and Minnesota are renegotiating terms of a $2 billion public private partnership billed as the solution to flooding in the metro areas of Fargo, N.D., and Moorhead, Minn. in an effort to end an impasse between the two states that could drive up project costs.

State of CA to Issue $1.6B in GO Bonds
California is issuing $21.6 billion in general obligation bonds, with $509 million being federally-taxable various purpose bonds; $199 million in tax-exempt various purpose bonds, and $881 million in tax-exempt refunding bonds. Proceeds of the bonds will be used to fund a variety of projects around the state.

Mill Redevelopment Plans Getting a $300,000 Boost in Weirton, WV
The U.S. Economic Development Administration has awarded $300,000 toward the creation of a development plan for 1,100 acres of property purchased earlier this year by the Frontier Group from ArcelorMittal. According to estimates from the group, the efforts could create anywhere from 500 to 2,500 new jobs and spur between $50 million and $2 billion in private investment.

RI DEM Announces Over $6 Million Available to Fix RI's Brownfields Sites
The Rhode Island Department of Environmental Management (RI DEM) announced that there is over $6 million in funding available to clean up and redevelop brownfields sites throughout the state.

Putting Private Capital to Work in Rural Infrastructure
Authored by the Bipartisan Policy Center, this paper highlights examples of rural areas that have successfully overcome issues of size, resources, and experience to create successful partnerships with the private sector.

Upcoming Events
CDFA National Development Finance Summit
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Tax Reforms Implications Mixed for Muni Markets
As Congress focuses on overhauling the tax code, John Hallacy evaluates the potential mixed implications of tax reform for the municipal market.

Laredo, TX $66M Bond SaleThreatened by NAFTA Talks
Laredo, Texas, the nation's largest inland port, is preparing to market $66 million of debt as doubts about the future of the North American Free Trade Agreement cloud the border city's economic prospects. Moody's identified a change in trade policy as an event that could lead to a downgrade for some Laredo credit.

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.

Upcoming Webcasts

CDFA // BNY Mellon Webcast Series: Bonds + Financing Sustainability
November 14, 2017 - 1:00 PM Eastern
During this installment of the BNY Mellon // CDFA Webcast Series our expert speakers will look at outside the box ideas for issuing bonds to fund sustainable areas of finance including renewable energy, adaptive reuse for infrastructure, food systems projects and sustainable water solutions.

This Week's Headlines

San Diego Seeks $1.7B for Water Recycling Program
San Diego Tribune | Oct. 18 | Infrastructure Finance | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance

WV Voters Approve Bond Amendment
Construction Dive | Oct. 18 | Bond Finance | Infrastructure Finance

Savage, MN Approves TIF for Oil Site
Savage Pacer | Oct. 18 | Brownfield Financing | Redevelopment | Tax Increment Finance (TIF)

$14M in Historic Tax Credits Will Support Redevelopment of NJ Bell Building
Fox Business | Oct. 17 | Historic Preservation | Tax Credits

IRS Releases New Public Approval Proposed Regulations
JD Supra | Oct. 17 | Bond Finance | Internal Revenue Service (IRS)

Loveland, CO Considers $61M in TIF Bonds
The Reporter Herald | Oct. 17 | Bond Finance | Tax Increment Finance (TIF)

Weekly Capital Markets Update
Wye River | Oct. 17 | Bond Finance

KPM Weekly Rate Update
KPM Financial | Oct. 17 | Bond Finance

Senate Approves Water Infrastructure Flexibility Act
The Ripon Advance | Oct. 16 | Infrastructure Finance | Legislative | Water Finance

Financing Infrastructure in Rural America
Washington Examiner | Oct. 16 | Infrastructure Finance | Public-Private Partnership (P3) Financing | Rural Development

Cincinnati Redevelopment Authority Continues Walnut Hills Revitalization
Greater Cincinnati Redevelopment Authority | Oct. 16 | Community Development

Nearly $13M in Tax Credits Supports Niagara City Lofts
Lockport Journal | Oct. 15 | Historic Preservation | Tax Credits

National Sponsor Spotlight

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...
FBT Project Finance Advisors LLC FBT Project Finance Advisors LLC
FBT Project Finance Advisors LLC, a consulting affiliate of the law firm of Frost Brown Todd, acts as an independent registered municipal advisor and assists government entities and borrowers in creating the best financing solutions for projects in...
Frost Brown Todd, LLC Frost Brown Todd, LLC
Across their eight-state footprint, Frost Brown Todd, LLC offers a deep, talented roster of legal professionals. Committed to their clients, the firm leverages technical and legal knowledge and experience to serve a diverse client base, from global...

Partner Spotlight

PORTFOL by Philadelphia Industrial Development Corporation PORTFOL by Philadelphia Industrial Development Corporation
The Philadelphia Industrial Development Corporation (PIDC) is Philadelphia's city-wide economic development corporation. Founded in 1958 as a non-profit, joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of...

CDFA Bookstore

Cover thumbnail Revolving Loan Fund Reference Guide
The Revolving Loan Fund Reference Guide offers an in-depth look at RLF program development, implementation and management. This guide demonstrates how a RLF program can compliment economic development strategies, encourage investment and assist traditionally underserved businesses.

New Members

One Dearborn, Inc. - Lawrenceburg, IN

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

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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
Become a Sponsor