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CDFA Tennessee Financing Roundtable Newsletter - May 2017
May 3, 2017
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CDFA Tennessee Financing Roundtable Newsletter

Feature

Trio Of Smyrna, TN, Auto Suppliers Use Incentives to Expand
A trio of Smyrna automotive suppliers will add 520 jobs in expansion plans totaling $142.4 million, the companies and the Rutherford County Industrial Development Board announced. Federal-Mogul will add 285 jobs, Topre America plans for 145 new jobs and Steel Technologies for 90. All three companies will receive some manner of tax incentives.

THDA Using LIHTCs and Multifamily Bond Programs to Impact TN
The financial impact of Tennessee Housing Development Agency reaches past the new homeowners' front doors, contributing hundreds of millions of dollars to Tennessee's economy and $29 million in state and local taxes in 2016. Low Income Housing Tax Credits and Multifamily Bond Programs are used to develop affordable rental housing.

Past Success has TN Concerned About Federal Brownfield Cuts
The Tennessee Department of Environment and Conservation has called federal brownfields grants the "unsung hero of Tennessee's economic resurgence." TDEC Commissioner testified that A dollar invested (through brownfields) yields at least $18 in private investment."

CDFA National Summit Call for Submissions
CDFA is accepting session submissions for the 2017 National Development Finance Summit in Atlanta this November. Session submissions on deals, projects or programs that include multiple funding sources are highly encouraged. Submissions are due by May 12, 2017.

The Blake at Kingsport in TN receives $1M in TIF
The Blake at Kingsport, a $21 million senior living facility off Fort Henry Drive plans to open spring of 2018. The project is expected to generate 70 new jobs and received $1 million in TIF for site development.

Franklin, TN, Debate Using State RLF For Sewer Plant Expansion
Franklin city leaders decided to take some time before finalizing a decision on a massive loan needed for a sewer plant expansion. The city council voted 7-1 to defer a decision until May on taking out an $80 million loan from the state's revolving loan fund.

Editorial: TN's Prudent Use of Business Incentives Promotes Investment, Jobs
Bob Rolfe, the commissioner of the Tennessee Department of Economic and Community Development, provides a commentary on Tennessee's use of business incentives to encourage economic development.

Bill That Would Disclose More on Tax Credits Passes TN Legislature
Bringing more transparency to Tennessee's business subsidies, lawmakers this week passed a bill that would require an annual report on tax credits. Business tax credits cost the state more than $140 million annually, in the hope of broad economic impacts. The forgone revenue, though, could be spent on education, roads, health care or other government functions that also impact the economy.

TN House, Senate Approve Gov. Haslam's Road Funding Bill
Republican Gov. Bill Haslam's proposal to boost road and bridge funding in Tennessee has been passed by both legislative chambers, after the House rejected an effort supported by GOP leaders to strip a gas tax hike out of the bill.

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. 

Intro Food Systems Finance WebCourse
June 7 - 8, 2017 - Daily: 12:00 - 5:00 PM Eastern
The Intro Food Systems Finance WebCourse examines the development finance programs that sustain a local food system and how investments in that system can drive economic development on a broader scale. Topics covered include federal, state, and local sources of capital, stakeholders involved in the financing process, and case study examples that showcase the variety of financing programs.

Sponsors


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For information about sponsoring the CDFA Tennessee 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

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • Ballard Spahr LLP
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave LLP
  • 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
  • Squire Patton Boggs
  • Stern Brothers & Co.
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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