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Development Finance Review Weekly - February 2, 2023

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Development Finance Review Weekly
February 2, 2023
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CDFA Development Finance Review Weekly

Features

Implementing Economic Justice in Development Finance Agencies
CDFA and our members at the St. Louis Development Corporation are hosting a joint webinar on February 22 at 2:00 PM ET to share the bold strategies that St. Louis is taking to infuse economic justice principles into their development finance programs. Join the conversation to hear from the authors of the St. Louis Economic Justice Action Plan and learn how key stakeholders across the city are implementing the recommendations.

Register Today for the First 2023 SSBCI Learning Series Event!
CDFA launched the 2023 SSBCI Learning Series to help you stay informed and navigate the implementation and operations of State Small Business Credit Initiative (SSBCI) capital and technical assistance programs. The first event - Compliance: Program Reporting Requirements - is on February 16 at 2:00 PM ET where speakers will discuss processes and systems for maintaining program compliance, resources for reporting, and expanding transparency through data insights. Register today!

California School Board to Discuss Lunch Program and Bond Financing
Assembly Bill 130, signed into law in July 2021, requires California to provide breakfast and lunch to all students, requires high-poverty schools to participate in a federal provision, and provides funding from the State Legislature to cover the meal reimbursement. The Santa Monica-Malibu Unified School District will provide an update on the nutrition program and reshuffle the District's general obligation bonds that allow them to save money in the current conditions of the bond market.

Cleanup Plan for Brewery Brownfields Site Completed in Jamestown, NY
The cleanup action plan for the brownfield site was part of New York's Brownfield Cleanup Program due to contamination levels of the Jamestown Brewery property. Cleanup of the property was executed by GPatti Enterprises, LCC. Oversight for the project was provided by the New York State Department of Environmental Conservation.

Full Roster of the House Ways and Means Committee Announced
House Ways and Means Committee Chairman Jason Smith (MO-08) announced the full roster of the House Ways and Means Committee for the 118th Congress. He stated that the Committee has a storied history of rising to the occasion to tackle America's biggest challenges and that members of the Committee will not compromise their values but must all work in good faith to find areas of common ground to deliver for working families.

USDA Proposing Section 538 Guarantee Rural Rental Housing Program Rule Change
The Rural Housing Service, a Rural Development agency of the United States Department of Agriculture (USDA), proposes to amend the current regulation for the Multifamily Family Housing Section 538 Guaranteed Rural Rental Housing Program. This change is expected to improve the customer experience with more timely and proactive responses to housing market demands and Administration priorities.

Opportunity Zone Fund Launched to Develop Knoxville, TN Multifamily Community
Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the launch of CSRA Opportunity Zone Fund VIII, LLC. The project-specific opportunity zone fund will raise capital to develop Livano Knoxville, an approximately 348-unit Class A multifamily community in Knoxville, Tennessee.

White House Launches Lead Service Replacement Accelerators Program
The White House announced plans to speed up the use of infrastructure law funds to replace lead pipes in underserved communities, with a focus on Connecticut, New Jersey, Pennsylvania, and Wisconsin beginning this year. The four states will be part of what's called the Lead Service Replacement Accelerators program in collaboration with the Environmental Protection Agency and the Department of Labor.

New Loan Program Targeted at Existing Businesses in Northwest New Mexico Counties
A revolving loan program targeted at small businesses in San Juan, McKinley, and Cibola counties was created when the Northwest New Mexico Council of Governments applied for and received a $900,000 grant from the U.S. Economic Development Administration. Loans ranging from $20,000 to $100,000 are available to businesses that have been operating for at least two years.

Upcoming Events
2023 CDFA Federal Policy Conference
Upcoming Webcasts

CDFA Minority Capital Loan Guarantee Program - Informational Webinar
Tuesday, February 7, 2023 - 2:00 PM - 3:00 PM Eastern
Join this webinar to learn more about the CDFA Minority Capital Loan Guarantee Program, why the Robert Wood Johnson Foundation is investing in Development Finance Agencies, and how to submit a successful proposal.

SSBCI Learning Series - Compliance: Program Reporting Requirements
February 16, 2023 - 2:00 PM - 4:00 PM Eastern
During the 2023 SSBCI Learning Series, CDFA will elevate conversations and host sessions geared toward successfully implementing new SSBCI programs and financial products, reaching targeted small businesses and business sectors, and effective program reporting and compliance strategies.

CDFA // BNY Mellon Development Finance Webcast Series: P3 Financing Approaches for Broadband Infrastructure
Tuesday, February 21, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, experts will highlight the resources available for financing broadband, discuss navigating the use of P3 for broadband, and share first-hand knowledge of their successes utilizing P3 financing for broadband projects.

Job & RFP Postings

NHCDFA-Community Development Manager
The Community Development Manager acts as the primary relationship manager for funding/financing applicants and managers of approved Community Center Investment Program projects. Responsibilities include customer service and problem-solving for external stakeholders, coordination and collaboration with internal departments for efficient and effective response to customer needs, and oversight/management of compliance and project success and mission-aligned outcomes.

NHCDFA-Contract Manager–Community Facilities
The New Hampshire Community Development Finance Authority (CDFA) is seeking a project-based Contract Manager to support its new Community Center Investment Program. The successful candidate will contribute to a two-year, $20 million program to expand and improve New Hampshire's community centers.

NHCDFA-Director of Community Facilities
The New Hampshire Community Development Finance Authority seeks a new Director of Community Facilities. The successful candidate will be a thoughtful and innovative leader with a passion for identifying, fostering, and elevating successful community development efforts. Based in Concord, NH, this is a hybrid position with responsibility for projects throughout the Granite State.

Maryland DHCD-CDA Lending and Risk Analyst II
The incumbent is responsible for the reporting, data collection, data integrity, and software systems for programs administered through the Division of Development Finance's Single Family Housing. The position also assists with design, development, maintenance, and production of all databases related to Single Family Programs and will monitor design and production of all reporting through the various programs.

Maryland DHCD-Office Secretary III
This position is responsible for providing secretarial and administrative assistance to the unit in the administration of federal and state grants/loans which provide financial assistance to rental property owners who produce affordable housing units for lower-income households throughout the State. The position also serves as Secretary to the Department's Housing Finance Review Committee.

This Week's Headlines

KIPP NYC Scores $209M for Bronx Charter School
Commercial Observer | Feb. 1 | Bond Finance | Infrastructure Finance

Ann Arbor, MI's Long-Anticipated Riverfront Redevelopment Breaks Ground
MLive | Jan. 31 | Brownfield Financing | Community Development | Redevelopment

Organic Farm Partners to Make Organic Farms Available as Fractional Investments
Cision | Jan. 31 | Access to Capital | Agriculture Finance | Innovation Finance | Resiliency

Site of Former Warren, OH Plant to Face Cleanup Thanks to $1M in State Grants
WKBN-TV | Jan. 31 | Brownfield Financing | Economic Development | Redevelopment

Biden-Harris Administration Invests $2.7B to Expand Rural Electric Infrastructure
USDA | Jan. 30 | Energy Finance | Infrastructure Finance | U.S. Dept. of Agriculture (USDA)

Compeer Financial Awards General Use Grants to Midwest Organizations
Morning AgClips | Jan. 30 | Access to Capital | Agriculture Finance | Rural Development | Social Finance

Grants Available to Support Minnesota Grown Specialty Crops
MN Department of Agriculture | Jan. 30 | Access to Capital | Agriculture Finance | State Finance Program

Pinellas, FL Considers Clean-Energy Loan Program to Entice Affordable Housing
Tampa Bay Newspaper | Jan. 30 | Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE)

President Biden Touts Infrastructure Law Funding $6B Rail Tunnel Replacement
ABC News | Jan. 30 | Access to Capital | Development Finance Toolbox | Infrastructure Finance | Legislative | Transportation | Legislative Activities

USDA Investing $2.7B for Rural Electric Infrastructure
USDA | Jan. 30 | Access to Capital | Development Finance Toolbox | Energy Finance | Infrastructure Finance | Rural Development | U.S. Dept. of Agriculture (USDA) | Rural Energy Programs

USDA Renewable Energy Grants and Low Interest Loans Available
Ohio's Country Journal | Jan. 30 | Access to Capital | Agriculture Finance | Energy Finance | Revolving Loan Funds (RLFs) | Rural Development | U.S. Dept. of Agriculture (USDA)

Montana Governor's Housing Task Force Provides Blueprint for Solutions
Billings Gazette | Jan. 29 | Access to Capital | Housing Finance | Revolving Loan Funds (RLFs) | Tax Credits

Detroit, MI to Receive $6.6M for Wastewater Infrastructure
Oakland Press | Jan. 28 | Access to Capital | Infrastructure Finance | Water Finance | Water Finance | Legislative Activities | Sewage & Waste

Analyzing Maryland Governor Moore's Historic $8.8B Education Budget
Maryland State Education Association | Jan. 27 | Access to Capital | Education | Revolving Loan Funds (RLFs)

FTA Announces Availability of $1.7B for Clean Transit Buses
Federal Transit Administration | Jan. 27 | Access to Capital | Green Finance | Legislative | U.S. Dept. of Transportation (DOT) | Transportation | Legislative Activities

Puerto Rico to Receive $23M for Water Infrastructure
EP Online | Jan. 27 | Access to Capital | Federal | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities | Sewage & Waste


National Sponsor Spotlight

Raza Development Fund Raza Development Fund
Raza Development Fund invests capital and creates financial solutions to increase opportunities for Latino and poor families across the country.
SB Friedman Development Advisors SB Friedman Development Advisors
SB Friedman Development Advisors is a real estate and development advisory firm specializing in development strategies and public-private partnerships. Founded in 1990, they work with public, private, and institutional clients. Their mission is to...
Stern Brothers Stern Brothers
Stern Brothers is the nation's largest certified 100% woman-owned business enterprise ("WBE") investment bank. As one of the few remaining independent, private investment banks in the country, they provide successful Underwriting, Private Placement,...

CDFA Bookstore

Cover thumbnail Practitioner's Guide to Economic Development Finance 3rd 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

Retail Strategies - Birmingham, AL

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

  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • Cirrus Secure
  • CohnReznick
  • Frost Brown Todd LLC
  • 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
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor