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Development Finance Review Weekly
January 18, 2018
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CDFA Development Finance Review Weekly

Feature

$8.5M PACE Project a First for Summit Co, OH
The DFA of Summit County will issue $8.5 million of PACE bonds to improve the energy efficiency of Akron's PNC Building.

Springfield, IL Project Gets Additional $1.1M in TIF
Springfield, IL has voted to give $1.1 million more in TIF funds to a historic restoration project in the downtown. With the addition of $1.1 million and $800,000, the total TIF funds obligated to the project amounts to $3.8 million.

Norwich, CT Housing Project Aided by $4M in LIHTC
The financing package for the 121-unit second phase includes $6.1 million from the state Department of Housing, $8.6 million from CHFA and $4.16 million in Low-Income Housing Tax Credits. 74 units will be affordable units targeted at families with 50 percent and 60 percent of area median income.

Opportunity Zones: A New Tool for Community Development
In signing H.R. 1 (the Act) into law Dec. 22, 2017, President Donald Trump created a new tool for community development – a tool that provides tax incentives to help unlock investor capital to fund businesses in underserved communities.

Las Cruces, NM to Consider the Issuance, Sale of $22.5M Bonds
Expansion and improvements to the City of Las Cruces' Joint Utility System could be made as the Las Cruces City Council will consider authorizing the issuance and sale of $22.5 million in Joint Utility Improvement Revenue Bonds.

Nine GA Communities Designated as Rural Zones
Georgia has designated the nine communities as Rural Zones, a new program enacted by the legislature in 2017. Portions of each community are now zoned to allow for tax credits to eligible businesses that create jobs and stimulate economic activity.

Tri-Cities Airport Awarded $4.1M Grant to Expand Aerospace Park
In November, the mayors of Kingsport, Johnson City and Bristol, Tennessee, and the counties of Sullivan and Washington signed the Aerospace Park intergovernmental financing agreement, giving Tri-Cities Airport the go-ahead to purchase $8.5 million in revenue bonds to fund the expansion.

Upcoming Events
Fundamentals of Economic Development Finance WebCourse
News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

Austin, TX Task Force Discusses 2018 Priorities
Members of the Austin, TX bond task force are working to identify spending recommendations for a potential bond issuance of between $325 million and $825 million. The bonds could finance a wide range of projects, from parks to public safety and transportation to affordable housing.

Pullman, WA Bond Issues Return to Ballot
Two bond issues return to Pullman ballots in a special election scheduled Feb. 13. Together the would authorize the issuance of $12.9 million to fund the purchase and conversion of the Encounter Ministries campus into a new City Hall, senior center and rec center. The bonds would also refinance existing debt.

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 Michael Catsi, DFCP
CDFA is pleased to congratulate Mike Catsi, Business Development Communications Director for the Alaska Industrial Development and Export Authority (AIDEA), as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program.

CDFA Recognizes Jeffrey San Juan, DFCP
CDFA is pleased to congratulate Jeffrey San Juan, Infrastructure Development Finance Officer with the Alaska Industrial Development and Export Authority (AIDEA), as the newest graduate of the prestigious Development Finance Certified Professional (DFCP) program.

Upcoming Webcasts

CDFA Federal Financing Webinar Series
February 28, April 12, June 14, August 16, and October 18, 2018 - 2:00PM Eastern
The CDFA Federal Financing Webinar Series is an exclusive, five-part online offering that will convene finance experts, federal agencies, and local practitioners to discuss the development finance programs offered by the federal government.

This Week's Headlines

Seattle University Saves by Refinancing with TEBs
WHEFA | Jan. 18 | Bond Finance

Understanding the Impacts of TCJA on TCs
The National Law Review | Jan. 17 | Legislative | Tax Credits

Anderson, IL Bond Issue Will Aid Apartment Renovations
The Herald Bulletin | Jan. 17 | Bond Finance | Tax Increment Finance (TIF)

Linden OKs $950K in Bonds for Various Train Station Repairs
Union News Daily | Jan. 17 | Bond Finance | Infrastructure Finance

Napa Sanitation District Refinances Bonds
Napa Valley Register | Jan. 16 | Bond Finance | Infrastructure Finance | Water Finance

Using R&D Tax Credit in the Agriculture Industry
Agriculture.com | Jan. 16 | Agriculture Finance | Tax Credits

Bill Introduced to Extend Colorado State LIHTC
Novogradac & Company | Jan. 16 | Legislative | Tax Credits

University Park, IL Getting Forensic Audit of Misappropriated TIF Funds
The Daily Southtown | Jan. 16 | Tax Increment Finance (TIF)

Wright County Board Votes to Fund School District Expansion
KIOW | Jan. 16 | Tax Increment Finance (TIF)

Church Opposes Truck Stop Bonds
The Lewiston Tribune | Jan. 15 | Bond Finance | Community Development

Red Oak Eyes Massive Water Meter Replacement Project
KMA Land | Jan. 15 | Bond Finance | Infrastructure Finance | Water Finance

Appleton Turns to Revenue Bonds for Exhibition Center
Post-Crescent | Jan. 15 | Bond Finance

Virginia Beach to Finance Sports Center with Bonds
The Virginian-Pilot | Jan. 14 | Bond Finance

PNCT Secures $298M Terminal Infrastructure Development Bond
American Shipper | Jan. 12 | Bond Finance | Infrastructure Finance

PFA Awards $5.3M for East Grand Forks, MN Wastewater Project
MN DEED | Jan. 12 | Infrastructure Finance | Water Finance

Missouri Bill Would Lower Annual Statewide HTC Cap
Novogradac & Company | Jan. 12 | Legislative | Tax Credits

Wisconsin Legislation Would Increase Single-Parcel HTC Cap
Novogradac & Company | Jan. 12 | Tax Credits

Ephrata, WA, Expecting $3.2M Loan from SRF for Waterline Project
iFIBER One News | Jan. 12 | Water Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

City of Sheridan, WY, Seeking $2.5M Loan from SRF to Address Landslides
Sheridan Media | Jan. 12 | Water Finance | Infrastructure Finance | Revolving Loan Funds (RLFs)

Eldorado, TX, Awarded $1.2M Loan from SRF
Standard-Times | Jan. 12 | Water Finance | Revolving Loan Funds (RLFs) | Infrastructure Finance

KC Hospital Receives $125.6M in Bonds
Kansas City Business Journal | Jan. 12 | Bond Finance | Community Development

Randall, MN Awarded $1.38M Funding Package by PFA
MN DEED | Jan. 12 | Infrastructure Finance | Water Finance


National Sponsor Spotlight

Stern Brothers & Co. Stern Brothers & Co.
Stern Brothers & Co. 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...
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.
U.S. Bank U.S. Bank
U.S. Bancorp (USB), with $416 billion in assets, is the parent company of U.S. Bank, the fifth largest commercial bank with more than 65,000 employees, and 3,151 offices in the United States.

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...

New Members

Corvias - East Greenwich, RI

Grafton Regional Development Corporation - Plymouth, NH

Parker Poe Adams & Bernstein LLP, GA - Atlanta, GA

Nee Plata Law LLC - Roseland, NJ

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
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