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CDFA Missouri Financing Roundtable Newsletter - April 2018
April 4, 2018
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CDFA Missouri Financing Roundtable Newsletter

Feature

MO Senate Gives Quick Ok To Massive Tax Cut
The Missouri Senate gave preliminary approval to what has been described as the largest tax cut in the state's history. The proposal would lower the state's 5.9 percent income tax rate to 5.25 percent, with additional reductions in future years if state revenues hit certain triggers.

MO Historic Tax Credits Could be Pared Back
A tax credit program designed to help developers restore and reuse old buildings and put them back on the property tax rolls would be pared back under a plan approved in the Missouri Senate. The measure sponsored by Sen. Dan Hegeman, R-Cosby, would reduce the cap on credits to $90 million, down from its current level of $140 million annually.

Missouri FIRST Loan Program Provides Capital for Small Businesses
The program partners with participating banks and lending institutions to provide low-interest loans to small businesses. According to the treasurer's website, the program allows lenders to lower the interests rate for borrowers by about 2 to 3 percent.

Opportunity Zone Will Offer New Tool for Lake of the Ozarks
The setup of the new Opportunity Zone could have widespread implications for development in this area as it may be able to incentivize housing developments, and given the income requirements for the zone, these projects could produce some affordable housing projects.

Merchants Bridge Could be Key P3 Case Study for Nation
The plan to replace Merchants Bridge is a prime example of the type of public-private partnership that has potential to succeed in the current funding climate. The Terminal Railroad Association of St. Louis has committed to funding nearly two-thirds of the project's cost, with the remainder hopefully to be covered by federal funds.

Downtown Kirskville, MO Considers Using TIF Funds for Facade Program
The concept is simple enough: Use about $800,000 already in the Downtown Tax Increment Financing District fund to pilot a facade improvement plan for downtown buildings, as well as replacing downtown sidewalks and installing new pedestrian lighting.

PACE Used to Finance New Grocery Store in MO
Property Assessed Clean Energy (PACE) was recently used to finance a new grocery store in St. Louis, Missouri. This represents the first project to use PACE financing for new construction in Missouri and also the first project to use PACE for new construction retail in the country.

Upcoming Events

CDFA Missouri Conference
May 1, 2018 - Kansas City, MO
Join the CDFA Missouri Financing Roundtable for a special one-day conference. 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 Missouri economy going forward.

CDFA Spotlight

Submit Your Proposal to Present at the 2018 CDFA National Summit
CDFA needs your help to source deals, projects and programs and will be accepting submissions for potential deals, projects and program presentations. If selected, each speaker will be given one complimentary registration to attend the CDFA National Summit.

Missouri News

Construction Underway on Senior Housing Project
The Joplin Globe | Mar. 19 | Tax Credits

Amazon Enters MO with 1,500-Job Fulfillment Center
Thomas Publishing Company | Mar. 8 | Bond Finance

Distribution Facility Project Aims for $14.5M IDB
St. Louis Post-Dispatch | Mar. 6 | Bond Finance

New Map Shows Significant Growth in St. Louis Promise Zone
STL Partnership | Mar. 2 | Access to Capital | U.S. Dept. of Housing & Urban Development (HUD)

Dogtown Apartments Project in St. Louis, MO Gets $20M in Financing
St. Louis Post Dispatch | Feb. 20 | Tax Increment Finance (TIF)

Council Approves Millions in Sewer Bonds
News-Press Now | Feb. 13 | Bond Finance | Infrastructure Finance | Water Finance

Council Set to Approve Kawasaki Bond Deal
Maryville Daily Forum | Feb. 9 | Bond Finance

$8.5M Bond Deal Secures Rehab of St. Louis Historic Buildings
St. Louis Post-Dispatch | Jan. 18 | Bond Finance | Historic Preservation

Chippewa Park Rehab of 16 Historic South City Buildings Moves Forward
St. Louis Post-Dispatch | Jan. 17 | Bond Finance | Community Development


Sponsors

State Partner

Missouri Economic Development Financing Association

Premium Sponsor

Stern Brothers & Co.

Supporting Sponsor

Bushyhead, LLC Lewis Rice UMB Bank White Goss

For information about sponsoring the CDFA Missouri 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

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  • Baker Tilly Virchow Krause
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  • BNY Mellon
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  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Frost Brown Todd, LLC
  • Grant Thornton LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • MB Financial Bank, NA
  • McCarter & English, LLP
  • McGuireWoods
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Squire Patton Boggs
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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