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Development Finance Review Weekly
September 21, 2017
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CDFA Development Finance Review Weekly

Feature

CDFA Announces Winners of the CDFA Excellence in Development Finance Awards
CDFA is proud to announce the winners of the Excellence in Development Finance Awards. These awards honor excellence in the use of financing tools for economic development. This year's recipients include: Allentown Neighborhood Improvement Zone Development Authority, Development Finance Authority of Summit County, Redevelopment Authority of the City of Milwaukee, New Jersey Economic Development Authority, and Greater Cincinnati Redevelopment Authority.

EB-5 Regional Center Program Extended
On Sept. 8, nearly a month ahead of the Sept. 30 deadline, the EB-5 Regional Center Program was extended to Dec. 8, as part of H.R.601. Another short-term extension of the EB-5 Regional Center Program leaves the EB-5 community to wonder what changes may be brought by future legislation.

CDFA Calls on Congress to Pass Disaster Bonds Legislation
CDFA is calling on Congress to create a permanent, special category of federal tax-exempt bonds, to be known as Disaster Recovery Bonds, which can be used by states and municipalities to support recovery efforts in the areas affected by disasters, both natural and man-made. Read about the proposal and historic use of disaster bonds in a feature by The Bond Buyer.

Municipal Finance Key to Rebuilding after Disasters
Steve Benjamin, Mayor of Columbia, S.C. and Chairman of Municipal Bonds for America, writes on the importance of municipal bonds to help rebuild damaged cities and regions in the aftermath of disasters, like the recent Hurricanes Harvey and Irma.

CA Legislature Approves Landmark Consumer Protection Framework for PACE
The most successful energy-efficiency financing program in history just got markedly better as the California Legislature approved a comprehensive consumer protection, underwriting, and regulatory framework for Property Assessed Clean Energy (PACE) and sent it to Governor Jerry Brown's desk.

Port Covington Development Team Announces Goldman Sachs as Private Equity Partner
Sagamore Development Company announced that Goldman Sachs has joined the Port Covington redevelopment effort as an equity investor, committing $233 million to the project, the largest single private equity investment made by the firm's Urban Investment Group to date

CDFA Releases Annual Volume Cap Report
CDFA is pleased to announce the release of the Annual Volume Cap Report: An Analysis of 2017 Private Activity Bond & Volume Cap Trends. The report provides complete data of the use of volume cap and the issuance of cap-subject private activity bonds nationwide and is featured in The Bond Buyer.

CA Multifamily Issuance Jumps $2B in 2016
Califonia's statewide issuance of multifamily housing bonds nearly doubled in 2016, climbing from $2.8 billion in 2015 to $4.6 billion in 2016. $4.6 billion is the largest statewide multifamily housing issuance in the nation.

National IDB Issuance Falls in 2016
For the third consecutive year, national industrial development bond issuance has fallen below the previous year's total, with just $177 million IDBs issued nationally in 2016. In 2015 the total national issuance was $244 million.

Total National PAB Issuance Returns to Pre-Recession Levels
For the first time since 2007, national private activity bond issuance surpassed $20 billion in 2016. In fact, 2016 is the first year since 2007 that national private activity bond issuance has surpassed $15 billion.

National Issuance of Multifamily Housing Bonds at 12 Year High
Based on national survey data collected for 2017 CDFA Volume Cap Report, national issuance of multifamily housing bonds are at a 12 year high. The 2016 mark of $14 billion is more than double the 2015 total of $6.6 billion.

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

The latest municipal finance headlines from The Bond Buyer.

MBTA Plans to Issue First Tax-Exempt Sustainability Bond
The Massachusetts Bay Transportation Authority plans to issue tax-exempt sustainability bonds Tuesday as part of a $574 million competitive sale.

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.

CDFA Spotlight

CDFA Recognizes Sara Pietka, DFCP
CDFA is pleased to congratulate Sara Pietka, Vice President at Roeder & Company LLC, as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program. A new graduate, Ms. Pietka, joins numerous other graduates who have invested in their professional development and are ready to tackle the complexities of the development finance industry.

Seventh Annual IIUSA EB-5 Industry Forum Announced
Miami, FL, October 23-25, 2017
Join IIUSA for the seventh annual EB-5 Industry Forum. This years event will focus on education and business development on a global scale. CDFA members can receive $100 off registration for this exciting event. Contact CDFA today to receive your coupon code.

Upcoming Webcasts

CDFA // BNY Mellon Webcast Series: Housing Finance 101
October 17, 2017 - 1:00 PM Eastern
During this installment of the CDFA//BNY Mellon Development WebCast Series, development finance practitioners will survey finance tools utilized to finance housing and provide a brief introduction to the world of housing finance.

Job & RFP Postings

Hiring: Chief Lending Officer - Capital Impact Partners

This Week's Headlines

Augusta EDA Approve Bonds for Local Industries
WRDW CBS 12 | Sep. 20 | Bond Finance

Opening of Little Caesar's Arena Sets High Hopes for Detroit Expansions
The Peninsula | Sep. 20 | Bond Finance

JEDA Bonds Fund Lutheran Homes of SC Projects
SCJEDA | Sep. 20 | Bond Finance

$75M CEDA Deal Supports Irvine Ice and Sports Complex
CEDA | Sep. 19 | Bond Finance

New Water District Being Formed in Nashville, NC
Rocky Mount Telegram | Sep. 19 | Water Finance | Special Assessment Districts | Revolving Loan Funds (RLFs) | Infrastructure Finance

Communities in NY Receive SRF Loans for Water Infrastructure Projects
Watertown Daily Times | Sep. 19 | State Finance Program | Revolving Loan Funds (RLFs) | Water Finance | Infrastructure Finance

Orange County Water District Requests $124M WIFIA Loan for Water Recycling
U.S. EPA | Sep. 18 | U.S. Environmental Protection Agency (EPA) | Water Finance | Infrastructure Finance

Indiana Finance Authority Requests $436M WIFIA Loan for SRF
U.S. EPA | Sep. 18 | Revolving Loan Funds (RLFs) | Water Finance | Infrastructure Finance | U.S. Environmental Protection Agency (EPA)

EPA Approves Expedited Loan Funding for Harvey-Related Water Projects
12 News Now | Sep. 18 | Water Finance | Infrastructure Finance | Disaster Recovery & Relief | U.S. Environmental Protection Agency (EPA)

Highland Park, IL, TIF for Water Infrastructure Facing Criticism
Highland Park News | Sep. 18 | Tax Increment Finance (TIF) | Water Finance | Infrastructure Finance

Editorial: The Capital Stack: PACE Finance vs. Mezzanine Debt
Colorado Real Estate Journal | Sep. 18 | Property Assessed Clean Energy (PACE) | Energy Finance

Dayton OKs $300K PACE Loan
Dayton Daily News | Sep. 18 | Property Assessed Clean Energy (PACE) | Energy Finance

$207.8M Incentives Support Apple Data Center in IA
Reuters | Aug. 24 | Incentives


National Sponsor Spotlight

Squire Patton Boggs Squire Patton Boggs
Squire Patton Boggs has come together to combine the strength, influence and resources of Squire Sanders and Patton Boggs. Their global team of over 1500 lawyers across 44 offices in 21 countries is ready to support their clients – wherever law,...
Stern Brothers & Co. Stern Brothers & Co.
Stern Brothers & Co., member SIPC, is an independent, certified Woman-Owned Business Enterprise (WBE) investment bank specializing in creating customized financing solutions for public and private borrowers.
Stifel Nicolaus Stifel Nicolaus
Stifel Nicolaus is a full-service securities firm dedicated to development finance. Stifel Nicolaus has developed innovative public financing structures for private developments, saving millions of dollars for their public and private sector clients.

Partner Spotlight

The Bond Buyer The Bond Buyer
The Bond Buyer is the only independent information resource serving the municipal finance community. Every day and throughout the day, through its web site, e-newsletters and alerts, and daily print edition, The Bond Buyer reaches more than 25,000...

CDFA Bookstore

Cover thumbnail Development Bond Finance Reference Guide
The Development Bond Finance Reference Guide provides practitioners with a solid foundation for understanding the use of tax-exempt bonds, with an emphasis on small issue industrial development bonds and 501(C)(3) bonds.

New Members

Polsinelli - New York, NY

Development Authority of the City of Warner Robins, Georgia - Warner Robins, GA

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 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