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CDFA New York/New Jersey Financing Roundtable Newsletter - April 2017
April 5, 2017
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CDFA New York/New Jersey Financing Roundtable Newsletter


Cuomo Strengthens Food Recovery Act with Tax Credit
New York Governor Andrew Cuomo is positioning the state as a national leader on the issue of food waste with his Food Recovery Act. And now as budget negotiations near a close, he is further strengthening that proposal with the addition of the Farm to Food Bank Tax Credit.

NYC Starts RLF to Support Minority and Women Owned Businesses
First Lady Chirlane McCray and Deputy Mayor for Strategic Policy Initiatives Richard Buery, Citywide Director of Minority and Women-owned Business Enterprises (M/WBEs), have announced the launch of the Contract Financing Loan Fund, allowing M/WBEs to apply for low-interest contract financing loans of up to $500,000 for M/WBEs.

Energy Resilience Bank Helps Four Hospital's Infrastructure Projects in NJ
NJEDA granted preliminary approval under the Energy Resilience Bank (ERB) to support the installation of new combined heat and power (CHP) systems at three hospitals and also announced it had closed on ERB funding related to the construction of a CHP project at another Hospital.

New Farmer Student Loan Assistance Program in Buffalo
The New York State Young Farmers Loan Forgiveness Incentive Program provides student loan repayments (up to $50,000 over the course of the program) to individuals who obtain an undergraduate degree and commit to operating a farm in New York State, on a full-time basis, for five years.

NJ Small Business Support Helps DG and Sons Expand Operations
DG and Sons, a family owned automotive repair shop in Trenton, NJ., recently closed on a loan which included a 44% participation through the New Jersey Economic Development Authority's (EDA's) Small Business Fund. The loan will help the business expand operations to a larger facility to meet the needs of an expanded clientele.

NJEDA Aids Emerging Technology Companies
The Founders & Funders event, held semi-annually by the NJEDA, puts early-stage technology businesses together with potential investors in order to discuss strategy, business models and funding opportunities.

NJ Won't Collect $23.5B in Taxes Due to Incentives
In 2017, New Jersey estimates it will not collect nearly $23.5 billion in the form of tax breaks. The tax breaks among the major sources of revenue for income, sales, use and corporation taxes.

$1B Waterfront Development to Receive Tax Credits
American Water is moving headquarters to a $1 billion waterfront development along the Delaware River in Camden, New Jersey. American Water is investing $165.7 million in capital investment and will receive tax credits through the state and a property tax abatement from the city.

Learning from Buffalo and Denver: Can Tax Credits Help Restore Polluted Sites?
Tax credits can help clean up pollution and renew communities, three experts from Buffalo and Denver told Oregon leaders and professionals during a visit to Portland last week – but it's important to think carefully as they're set up.

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

Big Dig Coming Soon to Clean Up Albany's Quackenbush Square
The Times Union | Apr. 3 | Brownfield Financing | Tax Credits

Tax Breaks Sought to Turn Former St. Paul's School into Apartments in Buffalo New York
The Buffalo News | Apr. 3 | Brownfield Financing | Tax Credits

Developers Propose Ambitious Residential Community on Broadway in Buffalo, NY
The Buffalo News | Mar. 30 | Brownfield Financing

Issue Closed: Cardinal McCloskey Community Services
GATES Capital | Mar. 21 | Bond Finance | Member News

Essex County's 'Clean Jobs' Initiative: Are Asbestos and Brownfields A Gold Mine?
Patch | Mar. 3 | 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
Become a Sponsor