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Development Finance Review Weekly
December 6, 2018
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CDFA Development Finance Review Weekly

Feature

Department of Commerce Invests $21M to Accelerate Entrepreneurship
U.S. Secretary of Commerce Wilbur Ross has announced that 40 organizations from 28 states and two territories will receive $21 million to create and expand cluster-focused entrepreneurship and technology transfer programs. The funds will be deployed through the EDA RIS program.

Detroit, MI Sells $135M in Bonds with Its Own Credit
The City of Detroit has sold $135 million in general obligation bonds, the first time in more than 20 years that Michigan's largest city has tapped the municipal bond market on the back of its own credit — and without the need for expensive layers of insurance for bondholders.

Apply for EPA Brownfields Funding FY2019
The U.S. EPA has released a new RFP and Application Guidelines for the FY 2019 Brownfields Multipurpose, Assessment, and Cleanup Grants (MAC Grants). Applications for these grants are due January 31st, 2019. These grants are offered by the EPA Brownfields Program and may be used to address sites contaminated by hazardous substances.

CDFA Supports Rep. Stivers, New Co-Chair of Muni Caucus
The Municipal Bonds for America Coalition, of which CDFA is a founding member, has released a letter congratulating Rep. Steve Stivers (R-OH) on becoming the new Co-Chair of the Municipal Finance Caucus. Rep. Stivers replaces the outgoing Republican Chair Randy Hultgren and joins current Democrat Co-Chair Dutch Ruppersberger (D-MD).

How Opportunity Zones Could Transform Communities
Opportunity Zones represent a breakthrough approach to community development. The program relies on an ingenious mechanism for spurring investment: Instead of tax credits or other traditional subsidies, investors are offered a temporary tax deferral for capital gains reinvested in designated opportunity zones.

LIHTC to Provide 650 Affordable Homes in Atlanta, GA by 2020
Georgia has earmarked federal tax credits to provide 650 affordable rental homes in metro Atlanta and they are scheduled to ready for occupancy in late 2020, according to a statement from the Department of Community Affairs on the award of a total of $25 million statewide in federal Housing Tax Credits.

Kresge Supports Opportunity Zones Incubator
The Kresge Foundation has announced a $390,000 grant to Calvert Impact Capital that will support the Opportunity Zones Incubator, a technical assistance program for social impact entities that are interested in or exploring taking a Qualified Opportunity Fund to market.

Upcoming Events
Intro Property Assessed Clean Energy (PACE) Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Port of Long Beach, CA Seeks Second TIFIA Loan
The Port of Long Beach, California, is seeking a second Transportation Infrastructure Finance and Innovation Act loan to complete the $1.5 billion Gerald Desmond Bridge replacement. A $325 million TIFIA loan awarded in May 2014 was a key financing tool for the project. The port wants to borrow $175 million more through TIFIA.

Election May Stimulate Transportation Funding Solutions
With Democrats in control of the U.S. House of Representatives next year, transportation specialists and public finance officials see a glimmer of hope for a more sustainable bipartisan transportation funding measure.

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 - Responsible Finance Webinar: Creative Access to Capital Solutions Across the U.S. and U.K.
December 10, 2018 - 10:00 - 11:00 AM Eastern
In this joint CDFA – Responsible Finance (UK) webinar, you'll learn from financing experts the creative access to capital solutions that are being pursued in both the U.S. and U.K. to support small business development.

This Week's Headlines

Offices and Market-Rate Apartments Planned for Kalamazoo, MI
MLive | Dec. 4 |

Sen. Scott Introduces Bill to Reauthorize NFIP
Office of Sen. Tim Scott | Dec. 3 | Disaster Recovery & Relief | Legislative

RI Offical to Hold Workshops on Brownfields Grant Application Process
Go Local Prov Business | Dec. 3 | Brownfield Financing

MORPC Releases Updated Green Infrastructure Toolkit
MORPC | Dec. 3 | Green Finance | Infrastructure Finance | Water Finance

Enterprise City, OR Earns Brownfields Grant
Wallow County Chieftain | Dec. 3 | Brownfield Financing

U.S. Secretary of Commerce Announces $13M in MBDA Grant Awards
Minority Business Development Agency | Dec. 3 | Federal

NY's Agreement with Amazon
Smart Incentives | Dec. 3 | Incentives

Consortium in RI Turning Former Brownfields into Solar Farms
The Westerly Sun | Dec. 3 | Brownfield Financing

$4.75M WHEFA Bond Financing Helps Fox Valley Lutheran High School Federation
WHEFA | Dec. 3 | Bond Finance | Community Development

EPA Brownfields Assessment, Cleanup and the New Multipurpose Grant Applications Due in January
SCS Engineers | Dec. 3 | Brownfield Financing

Lapel, ID Officials Create Redevelopment Council, Move Forward with Water Systems Plans
The Times Post | Nov. 30 | Community Development | Legislative | Water Finance

Dekalb, IL Considers Creating a Third TIF
Northern Star | Nov. 30 | Tax Increment Finance (TIF)

Charlotte, NC Sees ‘Tremendous' Opportunities — and Needs
Business Journal | Nov. 30 | Access to Capital | Community Development | Legislative

NY Public Housing is Home to City's Newest Food Entrepreneurs
NPR | Nov. 30 | Access to Capital | Community Development | Food Systems Finance

Kravis Center to Issue $21M Bond for Expansion in West Palm Beach, FL
Palm Beach Daily News | Nov. 30 | Bond Finance

Chicago, IL Mayor Gets His TIF Bill
Crain's Chicago Business | Nov. 30 | Legislative | Tax Increment Finance (TIF)

2019 Bond Market Outlook: Peak Expectations
Seeking Alpha | Nov. 30 | Bond Finance

$16M Set Aside for Water Infrastructure in TN
WCRB | Nov. 30 | Infrastructure Finance | Water Finance

Three Baltimore, MD Properties Nab $9M in Historic State Tax Credits
Baltimore Business Journal | Nov. 30 | Historic Preservation | Tax Credits


National Sponsor Spotlight

Bricker & Eckler LLP Bricker & Eckler LLP
Bricker & Eckler LLP, is one of Ohio's leading law firms, representing corporations, nonprofit organizations, government agencies, health care facilities, school districts, and municipalities, as well as individuals.
Bryan Cave Leighton Paisner LLP Bryan Cave Leighton Paisner LLP
Formed by the combination of Bryan Cave and Berwin Leighton Paisner, global law firm Bryan Cave Leighton Paisner LLP is purposely structured in a way few other law firms are, as a fully integrated international team that provides clients with clear,...
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...

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 Practitioner's Guide to Economic Development Finance 2nd Edition
The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities.

New Members

Werner Marx Innovative Infrastructure Finance - Atlanta, GA

Cuyahoga County, Ohio - Cleveland, OH

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

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