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CDFA New York/New Jersey Financing Roundtable Newsletter - August 2017
August 2, 2017
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CDFA New York/New Jersey Financing Roundtable Newsletter

Feature

NYC TFA to Sell $1.5B of Bonds
The New York City Transitional Finance Authority will competitively sell $1.35 billion of Fiscal 2018 Series A future tax secured tax-exempt and taxable subordinate bonds on Tuesday, Aug. 8. Proceeds of the sale will be used to fund a variety of capital projects.

Court Victories for NY, IL Nuclear Subsidies Are a Big Win for Renewables
A federal judge in New York ruled last week that the Empire State's plan to subsidize nuclear power plants "is constitutional" and "of legitimate state concern." The ruling marks the third time in less than a month that a federal court has affirmed states' authority to favor certain clean energy resources in their supply mix -- which could influence how states across the nation set renewable energy targets and credit programs in the years to come.

Family-Owned Business Establishes Permanent Home with NJEDA Support
In 2016, after years of assisting customers in its leased office/showroom in Atlantic Highlands, the Gorsegner brothers, a family-owned hardwood floor business, decided to seek a permanent location. Upon identifying a 1,900-square-foot facility in Holmdel as its new home, Gorsegner Brothers was approved for a $432,000 Ocean First Bank commercial mortgage loan with a 16.67 percent Economic Development Authority (EDA) participation through the EDA's Premier Lender Program.

NY Providing $12M in Incentives for Dick's Distribution Center
Dick's Sporting Goods plans to expand its new, and yet-to-open, Conklin distribution center by more than one-third even before workers finish the original structure. New York is providing Dick's up to to $12 million in incentives, including funds from the region's Upstate Revitalization Initiative and Excelsior Jobs Program tax credits.

States Across the US Are Finding Innovative Ways to Finance Energy
Many of the initiatives to move our energy system towards clean, renewable power emanate from the state and local levels. A few cities have already reached the 100 percent clean energy mark, with many more committing to eventually meet that standard.

NJ's American Dream Mega Mall Secures Additional $3B
Nearly 15 years in the making, North Jersey's ambitious Megamall project is back on track after the developers of the American Dream Meadowlands secured approximately $3 billion in new financing. Signs of life picked up in May when the New Jersey Sports & Exposition Authority (NJSEA), joined by a public finance authority based in Wisconsin, backed Triple Five's $1.1 billion tax-exempt bond sale.

Opinion: NJ Should Focus on Tax Incentives for Startups, Not Older Firms
New Jersey in recent years has lavished generous tax incentives on big companies like JP Morgan Chase and Subaru in an effort to bring more jobs to the state or to keep corporations from leaving. But a new evaluation of the state's sluggish economic conditions suggests taxpayers could get more return on their investments with policies that target much younger companies.

Upcoming Events

CDFA New York/New Jersey Conference
September 14, 2017 - New York, NY
Join the CDFA New York/New Jersey Financing Roundtable for a special one-day conference hosted at the offices of BNY Mellon in New York City. This event will feature a number of economic development finance experts from around the states discussing development finance tools, authorities, resources and approaches, and how these can affect the New York and New Jersey economies going forward.

Sponsors

State Partner

New York State Economic Development Council

Venue Sponsor

BNY Mellon

Principal Sponsor

Hawkins Delafield & Wood LLP New Jersey Economic Development Authority Stradley Ronon

Premium Sponsor

NW Financial Group, LLC Stern Brothers & Co.

Supporting Sponsor

ThinkForward Financial, LLC

For information about sponsoring the CDFA New York/New Jersey 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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