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CDFA Michigan Financing Roundtable Newsletter - June 2017
June 14, 2017
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CDFA Michigan Financing Roundtable Newsletter


Great Lakes Funding Eliminated Under Trump Budget Plan
The administration's budget proposal, released by the White House's Office of Management and Budget, zeroes out the Great Lakes Restoration Initiative, which since 2010 has provided more than $2.2 billion for programs to improve and protect the lakes.

Snyder Signs Transformative Brownfield Legislation
The bills would allow the developers of brownfield projects that meet certain investment thresholds to keep an added portion of the new tax revenue generated by the development and thus close the last existing financing gap for projects, according to supporters.

Bill to Modernize MI's Investment Crowdfunding Advanced by House
The existing law allows Michigan residents to invest in businesses that are specifically Michigan-based. Kahle's bill, however, allows for expansion of investment allowances to include small businesses doing their business primarily in the state, but without obligation to be based here.

$36M in Tax-Exempt Bonds Approved for Pistons Move
The addition of a professional basketball team at Little Caesars Arena will cost about $34.5 million. The Strategic Fund board approved the Detroit development authority's request to issue another $36 million in tax-exempt tax increment revenue bonds to fund the "construction improvements and related costs."

MI Good Food Fund Tops $10.5M in Statewide Food Investments
Six food enterprises in Grand Rapids, Kalamazoo, Southeast Michigan, and the Upper Peninsula received financing from the Michigan Good Food Fund, marking more than $10.5 million in investments since its launch two years ago.

QLine Connects Detroits "Economic Development Dots"
"The QLine allows for efficient and affordable transportation at a historic time when new businesses, residential buildings and entertainment options are unfolding continually in Detroit," said Steve Arwood, CEO, Michigan Economic Development Corporation.

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.

USDA Rural Community Development Initiative + Grant Application Tips
July 14, 2017 - 1:00PM Eastern
During this special webinar from CDFA, learn from expert speakers and previous awardees as we discuss the RCDI program, how to apply, and recommendations for successful applications.

Michigan News

Kalamazoo Will Replace 117 Lead Water Pipes
MLive | Jun. 5 | Water Finance

Mt. Pleasant, MI Approves New Brownfield Redevelopment Policy
Morning Sun News | May. 24 | Brownfield Financing

MiThrive Development Package Heads to Governor
Holland Sentinel | May. 12 | Brownfield Financing | Tax Increment Finance (TIF)


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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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