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CDFA Ohio Financing Roundtable Newsletter - September 2017
September 13, 2017
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CDFA Ohio Financing Roundtable Newsletter

Feature

The Development Finance Authority of Summit County Unveils its New Strategic Plan
Chris Burnham, CEO of the Development Finance Authority of Summit County, says their new strategic plan will increase focus on the subsidiary Development Fund of the Western Reserve.

Investment in Cincinnati Authority Supports Micro Commercial Redevelopment
Kresge Social Investment Managing Director Kimberlee Cornett interviewed GCRA's President and CEO Laura Brunner to find out how this unique organization became a recipient of an impact investment and how it views its role as both an industrial and business developer as well as a neighborhood developer in Cincinnati.

OH Senate Bill Aims to Increase Broadband Access
A bipartisan proposed bill in the Ohio Senate would make $100 million available to expand broadband into communities without high-speed internet access. About 300,000 rural Ohio households and 88,500 businesses lack broadband.

Agreement Revives Cuyahoga County Arena Financing Plan
The $140 million bond offering to help finance a $280 million overhaul of Quicken Loans Arena, home of the National Basketball Association's Cleveland Cavaliers, is back on the table after a series of developments last week. The financing, which the county approved in March, had been delayed because of opposition from council members and local organizations that argued the funds could be better spent elsewhere

OH Tax Credits to Create $115M in New Payroll
During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $115 million in new payroll, and spur more than $377 million in investments across Ohio.

Transportation Financing District Introduced in Ohio
Ohio counties participating in a regional transportation improvement project (RTIP) may now create a transportation financing district, which can be used by participating counties to fund improvement projects that benefit parcels within the district. A transportation financing district acts similarly to tax increment financing (TIF).

15 States Trying to Lure Toyota-Mazda $1.6B Plant
One of the biggest potential job-creating bonanzas in the country, a giant new auto plant proposed by Toyota and Mazda, began in secret with a mysterious code name. Now it has become a full-blown race among states to try to reel in the $1.6-billion project that will create 4,000 good-paying direct jobs and thousands of other indirect jobs.

$280M in ODOT TRAC Requests Sparks Competition and Interest in P3s and EB-5
Funding for "major new capacity projects" with the Ohio Department of Transportation (ODOT) are awarded through the Transportation Advisory Council (TRAC). Applications for TRAC funding were due on July 31, 2017, and 13 projects filed for a total of $280 M.

Top Ten TIF Misconceptions
This is final installment of a two-part series covering the top 10 misconceptions associated with Ohio Tax Increment Financing (TIF). TIF is a funding vehicle for public infrastructure and, sometimes, site improvements.

Municipalities Experiencing Growing Pains with GASB 77
Several challenges exist for governments as they prepare to comply with GASB 77. The first challenge is how to interpret the broad definition of "tax abatements." The ambiguity caused by the definition has resulted in some governments scrambling to determine which incentives meet the criteria of a "tax abatement"

Upcoming Events

CDFA National Development Finance Summit
November 15 - 17, 2017 - Atlanta, GA
The CDFA National Summit brings together the leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. The CDFA National Summit is designed for both public and private sector participants from all areas of the country. Attendees represent a diverse cross section of the development finance industry and bring unique perspectives, creative financing approaches, and interesting conversation to the event.

CDFA – Frost Brown Todd Infrastructure Finance Webcast Series
September 26-29, 2017 - Daily: 2:00 - 3:30 PM Eastern
The CDFA – Frost Brown Todd Infrastructure Finance Webcast Series will address current trends in financing the nation's most pressing infrastructure needs along with strategies for assembling capital, structuring the deal, and addressing critical financing gaps.

Ohio News

Ohio Capital Fund Requires Support From OH Taxpayers
The Dispatch | Sep. 1 | Access to Capital | Innovation Finance

Lessons Learned from First of Its Kind P3 Project
P3KY | Aug. 31 | Public-Private Partnership (P3) Financing

$7.8M Tax Credit Will Support Amazon Project in North Randall, OH
cleveland.com | Aug. 30 | Tax Credits

JobsOhio Helps Drive Down the Cost of Brownfield Redevelopment
OEDA | Aug. 17 | Brownfield Financing | State Finance Program

Keybank Forms Council to Oversee $16.5B National Community Benefits Plan
Crain's Cleveland | Aug. 17 | Community Reinvestment Act (CRA) | Member News

Historic Mill Becomes Advertising Office in Cuyahoga Falls, Ohio
Novogradac & Company LLP | Aug. 14 | Brownfield Financing


Sponsors

State Partner

Ohio Economic Development Association

Principal Sponsor

Roetzel & Andress

Premium Sponsor

Bricker & Eckler LLP Cleveland International Fund FBT Project Finance Advisors LLC Frost Brown Todd, LLC Ice Miller LLP KeyBanc Capital Markets Squire Patton Boggs Stern Brothers & Co. Stifel Nicolaus Taft, Stettinius & Hollister LLP

Supporting Sponsor

Development Finance Authority of Summit County Umbaugh and Associates

For information about sponsoring the CDFA Ohio Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.


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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