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CDFA New York/New Jersey Financing Roundtable Newsletter - May 2017
May 3, 2017
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CDFA New York/New Jersey Financing Roundtable Newsletter


NY Offering $800M in Development Funds
NY Governor Andrew M. Cuomo has launched Round VII of the Regional Economic Development Council initiative, officially kicking off the annual competition for more than $800 million in state economic development resources.

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.

Bergenfield, NJ Plans Downtown Revitalization with Special Improvement District
A spending plan of $187,000 that was recently approved by the Borough Council – the first budget the Special Improvement District, a public-private partnership created to improve the local business climate.

NY Housing Program Gives City Tax Break to Developers
It took nearly two years, but Gov. Andrew M. Cuomo reached an agreement with the New York State Legislature to put back together a long-running affordable housing program, known as 421-a, that gives developers a city tax break in return for building lower-price rental units.

Rehabilitation Tax Credit Turning NY's Historic Buildings Into Community Assets
Over the last four years, the New York State and federal rehabilitation tax credit program has spurred $3 billion of investment in historic commercial properties. According to Gov. Andrew Cuomo, New York State led the nation in the number of completed historic building revitalization projects using the tax credits.

Extension of NY State Film Tax Credit Passes
The extension of a tax credit program that the state's film and television industry says is crucial to its growth and survival—and which critics call a government giveaway—was included in the budget package that Albany passed Sunday. Though the governor has yet to sign the bill, the program is all but certain to go ahead.

NMTCs, LIHTCs Bring Affordable Housing to NYC's Lower East Side
Three development entities came together to create a nine-site development known as Essex Crossing, which includes 1.9 million square feet of housing, retail, and community service space. New markets tax credits and low income housing tax credits were both used to finance the development.

Local Restoration Projects Thanks to Nation-Leading Tax Credits
A project can receive a 20 percent tax credit based on the income a property generates. But the property must be on — or in the process of being included on — the New York State and National Registers of Historic Places. A total of $3 billion has been invested, thanks to the program that provides additional incentives alongside the federal tax credit program.

NY State Legislators Look to Boost Farming through Tax Credits
The New York Senate approved legislation co-sponsored by Sen. Tom O'Mara, R-58 of Big Flats, and Sen. Pam Helming, R-54 of Canandaigua, that would substantially increase the state's current Farm Workforce Retention Credit.

Upcoming Events

Intro Tax Increment Finance WebCourse
May 10 - 11, 2017 - Daily: 12:00 - 5:00 PM Eastern
This course brings TIF deal-making and best practices into focus through a two-day program targeting the entire TIF community including economic developers, public agency representatives, bond issuers, legal professionals, developers, financial advisors, and other stakeholders. 

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.

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

Roundtable Highlights NJEDA's Bank Partnerships' Role in Access to Capital
NJEDA | Apr. 28 | Access to Capital | Innovation Finance

Preservationists Fear Loss of Tax Credit Under Trump
The Buffalo News | Apr. 28 | Historic Preservation | Tax Credits

Indiegrove Expands Community of Entrepreneurs
NJEDA | Apr. 26 | Access to Capital | Innovation Finance

Ogdensburg Bonds $500,000 While Waiting on State Grant for Demolitions
Watertown Daily Times | Apr. 12 | Brownfield Financing


State Partner

New York State Economic Development Council

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

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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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