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CDFA Pennsylvania Financing Roundtable Newsletter - May 2017
May 10, 2017
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CDFA Pennsylvania Financing Roundtable Newsletter


CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

Report Shows that PA is Trailing in Evaluating Tax Incentives
Pennsylvania's business-friendly tax incentive programs cost the state upwards of $700 million per year, and officials need to do a better job of tracking where those investments go, according to a new report. Tax incentives are a common tool used by the Keystone State and others to attract new businesses and jobs.

Allentown Developer Can Use Bonds to Refinance $250M in NIZ Debt
Allentown Neighborhood Improvement Zone Development Authority has approved the refinancing of upto $250 million in bonds for a developer. Toby Rittner, president & CEO of CDFA, commended the NIZ-fueled development downtown, but was skeptical that tax-exempt financing could be used for the next project.

Erie, PA Requests $75M in State Funding
Requests include $30 million for downtown revitalization and $20 million for various projects that would strengthen and stabilize inner-city neighborhoods. The funding will be used to support the recommendations laid out in the city's comprehensive development plan, Erie Refocused.

PA Announces $39M Investment in Water
Governor Tom Wolf  announced the investment of $39 million for 12 drinking water, wastewater, storm water, and non-point source projects across nine counties through the Pennsylvania Infrastructure Investment Authority (PENNVEST).

Lehigh Valley Charter School Gets Boost from NMTC
Development of the Easton Arts Academy Elementary Charter School is getting a $5 million boost from NMTC's secured by the Lancaster-based Community First Fund. The Community First Fund secured $45 million in tax credits from the program this year.

2016 Was a Banner Year for PA Economic Development
2016 was a banner year for economic development in Pennsylvania. The Governor's Action Team (GAT) successfully completed 77 projects for companies who accepted financial assistance offers from the state. These companies pledged to create nearly 12,093 new jobs, retain nearly 24,754 jobs, and invest more than $7.8 billion in Pennsylvania.

Upcoming Events

Intro Food Systems Finance WebCourse
June 7 - 8, 2017 - Daily: 12:00 - 5:00 PM Eastern
The Intro Food Systems Finance WebCourse examines the development finance programs that sustain a local food system and how investments in that system can drive economic development on a broader scale. Topics covered include federal, state, and local sources of capital, stakeholders involved in the financing process, and case study examples that showcase the variety of financing programs.

Best of the Best Guidance on NMTC Applications
May 24, 2017 - 1:00 PM - 2:30 PM Eastern
This year's allocation of New Markets Tax Credits is now open for applications, and CDFA is here to help guide you through the process before the June 21st deadline. Tune into this webinar to hear a panel of expert speakers discuss the tips and tricks that they have learned through many years of working with this program. We'll review basic application instructions and consider elements of previously successful applications along with an interactive Q&A between the panel and participants. Don't miss this opportunity to hear the insiders' perspectives before you submit your application.

Pennsylvania News

PIDA Announces $5.5M in Loans to Support 79 Jobs
PA DCED | May. 4 | Access to Capital

PHFA Accepting Bids for New Tax Credit
Central Penn Business Journal | May. 3 | Tax Credits

WEDnetPA Continues to Support PA Employees
PA DCED | Apr. 13 | Economic Development


Premium Sponsor

NW Financial Group, LLC

For information about sponsoring the CDFA Pennsylvania 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

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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