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CDFA Maryland Financing Roundtable Newsletter - May 2017
May 3, 2017
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CDFA Maryland Financing Roundtable Newsletter

Feature

Preserving Agricultural Land in MD Reaping Rewards for Farmers
The State of Maryland and its more rural counties have made efforts to find some balance by providing incentives to farmers for preserving agricultural land and our rural areas. Agriculture still remains an important industry in the State of Maryland, so the State has found ways to encourage and sustain the agriculture industry while providing financial assistance and incentives to farmers to preserve farmland for those important agricultural uses and benefits.

MD Tax Credits Helping Electric Cars Grab Larger Share of Market
Federal and Maryland state tax incentives and tax credits for both EVs and charging installations are substantial and are causing the market for vehicles change in the state.

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.

Developers Protest $51M in Public Funding for Downtown Columbia Garage
Four developers with projects in Howard County are challenging the county's authority to use tax increment financing to help Howard Hughes Corp., Columbia's master developer, to finance a $51 million garage for public and private use. The Howard County Council approved the publicly funded garage as part of a $90 million deal in November.

MD Passes Legislation to Give Write-Offs for Manufacturing Equipment
The Maryland General Assembly included one-year write-offs of manufacturing equipment for tax purposes in its end-of-session legislative rush. This was part of Gov. Hogan's job creation initiative, attached to better-known provisions allowing for special tax incentives for manufacturing in less prosperous areas of Maryland, including parts of Baltimore, Western Maryland and the Eastern Shore.

MD Energy Storage Tax Credit: Gaining Momentum Across America?
The General Assembly of Maryland just passed a bill that would provide a 30% tax credit to those who chose to utilize energy storage technology, making it the first state in the country to pass such legislation. The funds provided by the bill would last from 2018 to 2022.

MSI Receives $100K MD Conditional Loan for Expansion
Manufacturing Support Industries, Inc. (MSI) a manufacturer of precision components for the defense industry, is expanding its operations in Salisbury. To assist with project costs, the Maryland Department of Commerce has approved a $100,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF). The company is also eligible for various tax credits including Maryland's Job Creation Tax Credit.

DWE Relocating Headquarters to Belcamp with MD $120K Conditional Loan
D. Wheatley Enterprises, Inc. (DWE) is relocating its headquarters and manufacturing operations to Belcamp in Harford County and adding 40 new jobs over the next four years. To assist with project costs, the Maryland Department of Commerce has approved a $120,000 conditional loan through the Maryland Economic Development Assistance Authority and Fund (MEDAAF)

Urban Food Policy Snapshot: Baltimore Food Desert Incentive Area
Baltimore's Food Desert Incentive Area property tax credit aims to reduce overhead costs so opening a grocery store in a food desert, which typically have between 1 and 1.5 percent profit margins no matter where they operate, can more likely be profitable.

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.

Sponsors

State Partner

Maryland Department of Commerce

For information about sponsoring the Maryland 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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