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CDFA New York/New Jersey Financing Roundtable Newsletter - September 2017
September 6, 2017
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CDFA New York/New Jersey Financing Roundtable Newsletter


City Planning Department Approves Morris Park BID in the Bronx
The proposed BID on Morris Park Avenue in the Bronx would allow for an annual assessment on businesses to fund marketing and promotion services, beautification, economic development initiatives, and advocacy. 

Incentives Lure Billtrust to Central Jersey
Billtrust, a software company, announced the decision to move headquarters to Central Jersey when the New Jersey Economic Development Authority approved its application for just under $1.3 million in Grow New Jersey tax credits at the NJEDA's August meeting.

Greystone Closes $550M Freddie Mac Loan in NY
Greystone announced the closing of a $550 million permanent Freddie Mac loan for a prominent mixed-income development in Manhattan. The deal is the largest single-asset tax-exempt financing completed by Freddie Mac and the first-of-its-kind private-placement structure that includes permanent financing for hundreds of affordable housing units in New York City, according to officials.

State Incentives Have NY Farmers Hopping
Spurred by new laws, especially the Farm Brewery Law, and state tax incentives the number of farm breweries in New York leaped from 45 in 2014 to 168 this year. And the overall number of breweries — which includes farm brewers, micro brewers and restaurant brewers — more than doubled to 350 since 2014.

NY, BID Votes to Allocate Money to Save Fashion Factories
Manufacturing in New York City's garment district is in jeopardy of unraveling at its seams. The city's Economic Development Corporation may soon begin the certification process to lift the zoning laws that have protected fashion and apparel businesses in these few blocks in Midtown Manhattan for decades.

NY Chemical Manufacturer gets $4.8 in Incentives for Paterson Relocation
The New York State manufacturer of more than 3,000 different liquid and dry chemical products has been approved for $4.78 million in state tax breaks to relocate its operation from Glendale to an industrial building in Paterson, according to the New Jersey Economic Development Authority (EDA).

Gov. Cuomo Announces Funds to Upgrade Water Systems in NY
Two Capital Region, New York, communities are getting millions of dollars from the state to upgrade their water systems. The money will be used to fund water storage tanks, pump station facilities, replacing old water mains and developing new groundwater wells.

Legal Problems a Potential for State Renewable Energy Incentives
The latest developments in federal courts indicate that state subsidies for renewable energy, including renewable-energy portfolio standards and mandated procurement programs, are safe from challenges, at least for now.

NY State Quietly Stopped Funding a Key Affordable Housing Program
A source close to the New York State Homes and Community Renewal agency, which oversees the issuance of tax-exempt bonds through the Housing Finance Agency, says it will not fund any more so-called "80/20 projects" (where a minority of the units are designated affordable) through the program until at least the end of 2018.

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.

New York/New Jersey News

People Inc, City of Buffalo Break Ground on Jefferson Avenue Apartments
WBFO | Aug. 29 | Brownfield Financing | Tax Credits


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.

New Members

Hornell Industrial Development Agency - Hornell, NY

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 Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Grant Thornton LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
Become a Sponsor