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Development Finance Review Weekly - October 3, 2024

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Development Finance Review Weekly
October 3, 2024
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CDFA Development Finance Review Weekly

Features

Don't Miss Out: Early Bird Rates for the CDFA National Development Finance Summit Ending Soon!
Some things are just better in person—like the CDFA National Development Finance Summit! Join us this November in Baltimore for three days of in-depth engagement with leading experts in development finance. This premier event provides opportunities to network, share insights, and explore innovative financing solutions. Register today to take advantage of our Early Bird Rates, which end on October 11! A special thanks to our Presenting Sponsors, the Maryland Department of Commerce and the Department of Housing and Community Development. Don't miss this chance to connect with the best in the industry!

New Federal Bill Aims to Triple Amount of LIHTCs
Newly introduced federal legislation would more than triple the size of the Low-Income Housing Tax Credit (LIHTC). The bill also seeks to lower the private-activity bond threshold for the rehabilitation credit from 50% to 15% and extend the required affordability period for LIHTC buildings to 50 years, according to the Democrat from Rhode Island. Sen. Sheldon Whitehouse (D-R.I.) says his bill is aimed at bringing down rents by increasing the supply of affordable rental homes.

Join Us for the CDFA FedFund Briefing on EPA Brownfields Funding Opportunities
CDFA is excited to present the next installment of the CDFA FedFund Briefings—a series of free webinars designed to provide insights into specific Notices of Funding Opportunities (NOFOs). Join us on October 8 as experts from the U.S. Environmental Protection Agency (EPA) discuss the FY 2025 Brownfields Assessment, Revolving Loan Fund, and Cleanup Grant Guidelines. Learn about key programs, including Community-Wide Assessment Grants and Cleanup Grants, and gain valuable insights into eligibility, potential projects, and application processes. Don't miss this opportunity to connect directly with U.S. EPA Brownfields Project Manager Torre Ippolito. Register today!

Natural Disaster Recovery Loan Program Launched for Florida Farmers Impacted by Hurricane Helene
Florida Commissioner of Agriculture Wilton Simpson has launched a Natural Disaster Recovery Loan Program to assist farmers affected by Hurricane Helene. The program offers low-interest loans to help cover immediate expenses and recovery costs. Eligible farmers can access up to $200,000 to rebuild and sustain their operations. This initiative aims to support the agricultural community's recovery and resilience following the hurricane's impact. Applications are now being accepted, with the goal of providing timely assistance to those in need.

Next for the CDFA Tribal Finance Webinar: Layering the Capital Stack in Indian Country
Join us on Tuesday, October 15, for the CDFA Tribal Finance Webinar Series: Layering the Capital Stack in Indian Country session. This session will delve into how tribal governments and their partner organizations can effectively combine various funding sources—both public and private—to drive projects forward. Learn about innovative financing strategies that can successfully bring tribal projects to completion from industry experts. Don't miss this opportunity to enhance your funding approaches and secure your spot today!

EPA Announces $49M in Technical Assistance to Address Wastewater Challenges
The U.S. Environmental Protection Agency (EPA) has announced $49 million in technical assistance funding to support rural, small, and tribal communities. This initiative aims to enhance access to clean water, improve wastewater management, and promote sustainable infrastructure projects. The funding will help communities tackle environmental challenges, improve public health, and foster economic growth. Through partnerships with various organizations, the EPA seeks to empower these communities to develop tailored solutions for their unique needs.

$7.7B for Climate-Smart Practices on Agricultural Lands as Part of Investing in America Agenda
The U.S. Department of Agriculture (USDA) announced up to $7.7 billion in assistance for fiscal year 2025 to help agricultural and forestry producers adopt climate-smart conservation practices on working lands. This includes up to $5.7 billion made possible by the Inflation Reduction Act, part of President Biden's Investing in America Agenda, and $2 billion from the Farm Bill. The initiative aims to enhance rural resilience and reduce greenhouse gas emissions while improving environmental health.

Upcoming Events
CDFA National Development Finance Summit
Upcoming Webcasts

CDFA FedFund Briefing: Funding for Brownfield Cleanups
October 8, 2024 - 2:00 PM - 3:00 PM Eastern
The CDFA FedFund Briefing will provide insights into specific Notices of Funding Opportunities (NOFOs) recently announced by the U.S. Environmental Protection Agency (EPA) under its FY 2025 Brownfields Assessment, Revolving Loan Fund, and Cleanup Grant Guidelines. Attendees will learn about the scope of the NOFOs, applicant eligibility, potential project examples, and how to apply.

CDFA Tribal Finance Webinar Series: Layering the Capital Stack in Indian Country
October 15, 2024 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss how tribal governments and their partner organizations are finding new and interesting ways to layer capital for tribal projects.

CDFA // BNY Development Finance Webcast Series: Bond Rating Roundtable
October 22, 2024 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Development Finance Webcast Series, speakers from various credit rating agencies will discuss their rating criteria and methodology. The discussion will also encompass factors influencing bond ratings, along with case studies highlighting projects that experienced positive outcomes due to improved bond ratings.

Job & RFP Postings

Appalachian Community Capital - Chief Risk & Compliance Officer
Appalachian Community Capital seeks a strategic and experienced professional to serve as the organization's first Chief Risk and Compliance Officer (CRCO). The CRCO will lead the development and execution of risk management strategies and a comprehensive compliance program for the organization's wholly-owned subsidiary, the Green Bank for Rural America. The CRCO will be instrumental in leading the development and execution of risk management strategies including a comprehensive compliance program for ACC's federally funded initiative which includes managing and directing the allocation of $450 million in capitalization and technical assistance (TA) awards to approximately 50-70 community lenders.

Green Bank for Rural America - Chief Financial Officer
Reporting to the President & Chief Executive Officer of the Green Bank, the Chief Financial Officer (CFO) will be instrumental in building and overseeing financial management, human resources, IT infrastructure, and procurement activities. Successful candidates will possess a robust entrepreneurial spirit, comprehensive financial expertise, a passion for the Green Bank's mission, and proven experience in a startup or transformative environment.

Green Bank for Rural America - Chief Investment Officer
Reporting to the President & Chief Executive Officer of the Green Bank, the Chief Investment Officer (CIO) will be instrumental in managing and directing the allocation of $450 million in capitalization and technical assistance (TA) grants to approximately 50-70 community lenders. These grants are intended to finance projects that significantly reduce pollution and support investments in new energy opportunities in priority rural communities nationwide.

This Week's Headlines

FloridaCommerce Awards $2.2M Through Small Business Emergency Bridge Loan Program
FloridaCommerce | Oct. 2 | Access to Capital | Disaster Recovery & Relief | Revolving Loan Funds (RLFs)

Terra Regenerative Capital Launches Fund with Unique Missing Middle Strategy
RFSI | Oct. 1 | Access to Capital | Food Systems Finance | Innovation Finance | Seed Capital | Venture Capital

USDA Invests $1.7B to Support Farmers, Deliver Nutrition Assistance, and Bolster Rural Economies
USDA | Oct. 1 | Access to Capital | Agriculture Finance | Federal | Social Finance | U.S. Dept. of Agriculture (USDA)

$303M in Financing for Montgomery County, MD's Hillandale Gateway
The MoCo Show | Oct. 1 | Access to Capital | Revolving Loan Funds (RLFs)

Arkansas Launches $100M Heartland Facilities Fund
PRNewswire | Sep. 30 | Access to Capital | Education | Revolving Loan Funds (RLFs)

Muni Advocates Hire UChicago to Create Bond Data
The Bond Buyer | Sep. 30 | Bond Finance | Community Development | Economic Development | Federal

Questions on Emergency Aid for Helene Victims
States Newsroom | Sep. 30 | Disaster Recovery & Relief | Federal

RFK Human Rights Co-Hosts the First Connective Capital Consortium
Robert F. Kennedy Human Rights | Sep. 30 | Access to Capital | State Small Business Credit Initiative (SSBCI)

University of Hawaii Earns Strong Bond Rating, Saving Millions of Dollars
University of Hawai'i News | Sep. 30 | Bond Finance | Community Development | Economic Development | Education

USDA Offers $58M in Available Assistance for Organic Dairy Producers
The Fence Post | Sep. 30 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA)

Mobilizing Environmental Impact Bonds for Extreme Heat Adaptation Solutions
Federation of American Scientists | Sep. 27 | Bond Finance | Community Development | Development Finance Toolbox | Economic Development | Green Finance | Resiliency

EDA Awards $14.5M for Economic Development, Infrastructure in West Virginia
U.S. Sen. Joe Manchin | Sep. 26 | Economic Development | Infrastructure Finance | U.S. Economic Development Administration (EDA)

Fredericksburg, VA City Council Moves Closer to Issuing Bonds for CIP Projects
Fredericksburg Free Press | Sep. 26 | Bond Finance | Community Development | Economic Development

South Dakota Announces Over $24M for Statewide Environmental Projects
SD Gov | Sep. 26 | Access to Capital | Revolving Loan Funds (RLFs) | State Finance Program | Water Finance


National Sponsor Spotlight

Alliant Insurance Services, Inc. Alliant Insurance Services, Inc.
Alliant Insurance Services makes the process of finding the right management liability and cyber liability insurance coverage quick and easy. With a history dating back to 1925, Alliant ranks among the largest insurance brokerage firms in the United...
Bricker Graydon LLP Bricker Graydon LLP
Bricker Graydon LLP assists public and private sector entities throughout the Midwest with the implementation of development finance projects utilizing tax incentives and bond finance structures, including TIF, CPACE, and other leverage tools.

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 an RLF program can complement economic development strategies, encourage investment and assist traditionally underserved businesses.

New Members

Infinite Vision USA, LLC - Mason, 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

  • 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