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CDFA Virginia Financing Roundtable Newsletter - April 2017
April 5, 2017
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CDFA Virginia Financing Roundtable Newsletter

Feature

Incentives Push Northern VA Data Center Growth
Legislation making qualified data center facilities exempt from Virginia's sales and use taxes went into effect in 2009. To qualify, data center providers must spend at least $150 million and create between 25–50 new jobs in the area. Those tax breaks have since been extended through 2035, providing long-term visibility into operating costs for data center operators. 

Shamrock Farms to Create More Than 70 New Jobs in Augusta County, VA
Virginia Governor Terry McAuliffe announced that Shamrock Farms, one of the largest family owned-and-operated dairies in the U.S., will invest more than $40 million to expand its operation in Augusta County. The company will also commit to sourcing an additional $24 million in Virginia milk. This project will create more than 70 jobs and will more than double Shamrock Farms' production capacity and workforce.

VA BusinessTax Credit Helps Draw Amazon Project to Frederick County
The Virginia Economic Development Partnership worked with Frederick County to secure an Amazon project to establish an e-commerce warehouse and distribution operation. The company will be eligible to receive a Major Business Facility Job Tax Credit, and funding and services to support the company's employee training activities will be provided through the Virginia Jobs Investment Program.

New Utility Solar Program A Small Step Forward for VA Renewable Energy
A bill by state Sen. Frank W. Wagner, R-Virginia Beach, which was signed by the governor this month, requires Dominion Virginia Power and Appalachian Power to establish pilot community solar programs in their service territories, selling power generated from solar arrays under two megawatts that are built by third parties to customers who subscribe.

$220M Financing Plan Ready for VA Beach Arena
Virginia Beach Mayor Will Sessoms announced that the City Council agreed with the arena developers on a financing plan to build a $220 million sports and entertainment venue near the Oceanfront.

PACE Program Poised to Launch in VA
After eight years of pursuing PACE, Arlington County in northern Virginia has secured a program administrator – Sustainable Real Estate Solutions – a critical step in getting started with the state's first program.

VA Ups Investment in Brownfield Hotel Project
Gov. Terry McAuliffe announced that Petersburg was one of three localities in Virginia awarded a total of $699,000. Petersburg will receive $350,000 of the total, with the remainder going to the towns of Pulaski ($240,000) and Herndon ($109,000).

Coal Counties in VA Support Amendment to Block Economic Development Funding Shift
Representatives from three counties in Virginia's coalfields region are supporting Gov. Terry McAuliffe's budget amendment blocking transfer of funds from a local economic development authority for creation of an international marketing initiative.

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. 

CDFA South Carolina Conference
April 25, 2017 - Columbia, SC
Join the CDFA South Carolina Financing Roundtable, in partnership with JEDA or a special one-day conference hosted at the University of South Carolina Alumni Center. This event will feature a number of economic development finance experts from around the state discussing development finance tools, authorities, resources and approaches, and how these can affect the South Carolina economy going forward.

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.

Sponsors

State Partner

Virginia Economic Developers Association

Supporting Sponsor

Federal Home Loan Bank of Atlanta

For information about sponsoring the CDFA Virginia Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.

Job Postings

Associate Director Asset Management - Fairfax County Redevelopment and Housing Authority


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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