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CDFA Maryland Financing Roundtable Newsletter - July 2017
July 5, 2017
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CDFA Maryland Financing Roundtable Newsletter


MD Paper Co. to Expand With Tax Credit
One of the nation's leading manufacturers of dry felt paper for construction and industrial uses, Maryland Paper Co., plans to expand its operations in Williamsport and will make use of property tax credits to help fund the expansion.

New Botanical Research Company Receiving Tax Credits in MD
Vitreon America, a company that researches how plants can be used to make medicine, is moving from Northern Virginia to Baltimore — and bringing with it 200 jobs. Vitreon will be eligible for the state's job creation tax credit and One Maryland tax credit as part of their move.

Gov. Hogan Talks Development in MD
Since he was elected, Gov. Hogan says that the state has invested $215 million toward Lower Shore projects, including $1 million toward downtown Salisbury's Main Street revitalization project. Other money has gone to school building projects in Wicomico County, the Salisbury wastewater treatment plant and Arthur W. Perdue Stadium. Hogan said he also has invested in repairing "crumbling" roads and 69 bridges across the state.

New MD Tax Credit Will Promote Energy Storage Systems
Maryland's Governor Hogan has signed into law a state income tax credit for specific costs related to energy storage systems installed between January 1, 2018 and December 1, 2022.  Systems eligible for the credit are systems that are used to store electrical, mechanical, chemical or thermal energy that was once electrical energy to be used as electrical energy at another time or in a process that would offset electrical use at peak times of electrical use. 

$15M Bel Air Reservoir Construction Expected to Start Soon with RLF Funds
Company officials said they expect to host a ground-breaking ceremony in mid-July behind Maryland American Water's treatment plant just south of Bel Air on Route 1 as workers start the company's $15 million water storage reservoir. The Company is obtaining money through the Maryland revolving loan fund to cover the cost of the intake project.

CGC Food Distribution Company Relocates to Howard County, MD
CGC Holdings, Inc., a food distribution company in Jessup, Md., recently completed construction and has moved into a new 160,000-square-foot building in Howard County. The company is eligible for various state and local tax credits, including Maryland's Job Creation Tax Credit.

MD EV Tax Credit Extended Three Years
The Maryland Clean Cars Act of 2017 (SB 393/HB 406) was signed into law by Governor Larry Hogan on May 4, 2017. This will extend the Electric Vehicle Tax Credit program through fiscal year 2020. The Electric Vehicle Tax Credit yearly funding will increase by over 30 percent. 

Upcoming Events

CDFA Summer School
August 7 - 11, 2017 - Minneapolis, MN
CDFA Summer School is a week long series of courses presented by the CDFA Training Institute. These courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for one, two, or three courses during CDFA Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program.

New Additions to the Online Resource Database

Philanthropic Financing - The East Baltimore Revitalization Initiative
Community Development | Economic Development | Innovation Finance | Social Finance
The East Baltimore Revitalization Initiative is the largest urban redevelopment effort in Baltimore since the successful redevelopment of the Inner Harbor. This report focuses specifically on financing strategies that have helped move the project forward, and details the important role the Annie E. Casey Foundation played in leveraging its philanthropic resources in innovative ways to bolster this initiative.


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

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CDFA National Sponsors

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  • Baker Tilly Virchow Krause
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  • Bricker & Eckler LLP
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  • 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
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  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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