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CDFA Michigan Financing Roundtable Newsletter - April 2017
April 12, 2017
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CDFA Michigan Financing Roundtable Newsletter


Park Place Brownfield Plan Gets Final OK, in Traverse City Michigan
The brownfield plan outlines $2.6 million in local eligible reimbursement funding in relation to the demolition of the Park Place dome and construction of a new conference center, including just under $1 million for demolition and $1.6 million to fund three major public improvement projects downtown.

Ferris Wheel Innovation Center Will Support Flint Entrepreneurs
The investment by the Michigan Strategic Fund allocates $1.5 million to the establishment of the Ferris Wheel Innovation Center Business Incubator Grant and $1 million through the Michigan Community Revitalization Program to assist the redevelopment of the Ferris Building where the innovation center is housed.

Do Business Incentives Work in MI?
Economic development leaders rolled out a new push for business-attraction incentives with the familiar refrain that Michigan needs them to keep up with other states for larger projects. But little hard data exists, at least publicly, to support that contention.

Snyder Outlines Importance of MI Food and Agriculture Industry
Initiatives such as the Pure Michigan Business Connect public private partnership and the Agribusiness Summit are just a few of the ways that Michigan has supported this key sector. Governor Snyder believes that getting people to talk to each other is one of the most important ways to support this industry.

Call for Job-Creation Incentives Is Renewed in Michigan
Gov. Rick Snyder's administration and economic development officials are readying a new push to offer tax breaks to attract large-scale business expansions, contending that Michigan has missed out on jobs being aggressively sought by other states.

Lincoln Park Preservation Alliance Works to Save Two Historic Buildings
The Lincoln Park Preservation Alliance is looking for developers to buy and the fix up a pair of at-risk buildings in the city. The two buildings are both eligible to be placed on the National Register of Historic Places list, but are currently not on the list. Both buildings need significant work to be habitable again.

Huntington to Invest in Downtown Flint, MI
In addition to its current $5.4 million private investment, Huntington is reaching out to small business in Flint as part of Pure Michigan Micro Lending Initiative, which is available to business owners and entrepreneurs looking for funds to assist in locating or expanding their companies in the city.

MI's Agribusiness Continues to be Successful
In total, approximately 51,500 farms throughout the state generate more than $100 billion in economic business with Michigan leading the nation in the production of blueberries, cucumbers, squash, tart cherries, four varieties of dry beans, and 12 assortments of flowers.

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 & OSU Webcast: Using the Successes of Energy Finance to Guide Progress in Food Systems Finance
April 24, 2017 - 9:30 AM Eastern
The CDFA & OSU Webcast is a special one time offering. This webcast will cover the Energy Finance Landscape and explore how its successes may be applied to the Food Systems Landscape. This webcast will be run by students taking the graduate level Sustainable Financing class in the Department of City and Regional Planning at The Ohio State University.

Michigan News

MSF Grants Support $32.5M Investment in MI
MEDC | Apr. 6 | Incentives

Jolly Pumpkin Owner Plans Restaurant in Midtown 'Innovation Corridor
Crain's Detroit Business | Apr. 3 | Brownfield Financing

MI Approves Incentive for Grand Rapids Apartments
Grand Rapids Business Journal | Mar. 31 | Brownfield Financing

Garnier, Target Team Up with Detroit Urban Farm
Sustainable Brands | Mar. 28 | Community Development | Crowdfunding | Water Finance

Ford Ups Investment in MI by $350M
The Detroit News | Mar. 27 | Economic Development

$2M PlazaCorp Redevelopment to Create 30 Jobs in Kalamazoo
MLive | Mar. 23 | Brownfield Financing

Ishpeming City Council Supports Senior Housing Development
The Mining Journal | Mar. 23 | Brownfield Financing

Three New Communities Added to MI Main Street Program
The Peninsula | Mar. 15 | Economic Development

$500K RLF Will Support New Six-Story Muskegon, MI Building
MLive | Mar. 14 | Revolving Loan Funds (RLFs) | Urban Development

New Additions to the Online Resource Database

2017 CDFA Michigan Financing Roundtable Webinar
Bond Finance | Brownfield Financing | Community Development | Development Finance Toolbox | Economic Development | Energy Finance | Incentives | Legislative | Public-Private Partnership (P3) Financing | Tax Increment Finance (TIF)
The 2017 CDFA Michigan Financing Roundtable Webinar discusses the latest and greatest in Development Finance across the state. The webinar includes two sessions: Development Finance Current Events Review and The Michigan Bond Market. Experts, Craig Hammond with Dickinson Wright PLLC, Joshua Hundt with Michigan Economic Development Corporation, and Todd Parker with Michigan Saves begin the webinar by presenting exciting developments in the state, then Ian Koffler and Steve Mann with Miller, Canfield, Paddock and Stone, P.L.C. and Bill Roche with Hutchinson, Shockey, Erley & Co. end with walking us through the bond financing process while exploring strategies for maximizing this financing tool in Michigan.


For information about sponsoring the CDFA Michigan 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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  • Frost Brown Todd, LLC
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  • McCarter & English, LLP
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  • Miles & Stockbridge P.C.
  • NW Financial Group, LLC
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  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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