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CDFA Michigan Financing Roundtable Newsletter - September 2017
September 13, 2017
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CDFA Michigan Financing Roundtable Newsletter


MI to Sell $120M Bonds for Environment and Water Finance
The $119.6 million offering includes a tax-exempt series worth $79 million, and a federally taxable series worth $40.6 million. They will be used to pay for programs related to the environment, natural resources and water quality that are managed by the Michigan Department of Environmental Quality.

$50M Mixed-Use Development Planned for Shuttered Paper Mill
The economic impact, if successful, is considerable: 1,800 jobs within the first five years of operation, more than 200 construction jobs and in a period from 2017-24 an estimated $400 million in added value and $60 million in local and state taxes.

MI Department of Agriculture Announces $4.7M in Incentives
The Michigan Dept. of Agriculture and Rural Development will begin to deploy $4.7 million for its Food and Agriculture Investment Program, which it operated as a pilot project in the current fiscal year. The program marks the first time the state has offered an incentive targeted specifically at agribusinesses.

As West Michigan's Startup Culture Evolves, Start Garden Grows Into New Roles
For the last 16 months, the nonprofit Start Garden has administered the Grand Rapids SmartZone tax increment financing (TIF) mechanism, a significant shift from its genesis as a pre-seed venture capital fund.

15 States Trying to Lure Toyota-Mazda $1.6B Plant
One of the biggest potential job-creating bonanzas in the country, a giant new auto plant proposed by Toyota and Mazda, began in secret with a mysterious code name. Now it has become a full-blown race among states to try to reel in the $1.6-billion project that will create 4,000 good-paying direct jobs and thousands of other indirect jobs.

MSHDA Awards $2.6M to MI Communities for Blight Elimination
Nineteen cities across Michigan will receive funding for residential and commercial blight elimination projects using more than $3.6 million in grants from the Michigan State Housing Development Authority, Executive Director Earl Poleski.

Neogen Announces Plans for $1.3M Redevelopment of Vacant Property in Lansing, MI
The $1.3 million redevelopment plan, which is contingent upon city approval of brownfield redevelopment incentives, would bring 25 new full-time jobs and $414,273 in new taxes to Lansing. City officials hope that redeveloping the blighted property at 1000 South Hosmer Street could also be a catalyst for future redevelopment.

Upcoming Events

CDFA National Development Finance Summit
November 15 - 17, 2017 - Atlanta, GA
The CDFA National Summit brings together the leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. The CDFA National Summit is designed for both public and private sector participants from all areas of the country. Attendees represent a diverse cross section of the development finance industry and bring unique perspectives, creative financing approaches, and interesting conversation to the event.

CDFA – Frost Brown Todd Infrastructure Finance Webcast Series
September 26-29, 2017 - Daily: 2:00 - 3:30 PM Eastern
The CDFA – Frost Brown Todd Infrastructure Finance Webcast Series will address current trends in financing the nation's most pressing infrastructure needs along with strategies for assembling capital, structuring the deal, and addressing critical financing gaps.

Michigan News

Grand Angels Launches Kalamazoo-Based Affiliate
MiBiz | Sep. 3 | Innovation Finance

$1M CDBG Grant Supports Cadillac House Revitalization
The Times-Herald | Sep. 1 | Redevelopment

Developers, Inquire about Michigan Brownfield Incentive
Bridge | Aug. 29 | Brownfield Financing

New Development Coming to Former Visteon Property in Shelby Township, MI
C & G News | Aug. 29 | Brownfield Financing | Tax Increment Finance (TIF)

EPA Brownfield RLF Supports Cleanup at Tecumseh, MI Site
Lenconnect | Aug. 23 | Brownfield Financing | Revolving Loan Funds (RLFs)


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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.

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Columbus, OH 43215
(614) 705-1300

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