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CDFA Illinois Financing Roundtable Newsletter - May 2017
May 10, 2017
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CDFA Illinois Financing Roundtable Newsletter


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.

Sangamon County Approves Enterprise Zone Expansion for Natural Gas
The Sangamon County Board late Tuesday unanimously approved both a rezoning request and extension of enterprise zone tax breaks to the developer of a proposed natural-gas power plant south of Pawnee. The Springfield City Council and Illinois Department of Commerce and Economic Opportunity also must approve the enterprise zone expansion.

Capital One Received $20.8M in Tax Breaks From IL in 2015
The Illinois tax breaks were administered under the Economic Development for a Growing Economy, or EDGE, tax credit program. Under the terms of the agreement, in exchange for retaining 900 jobs and hiring 210 new employees, Capital One received credits equal to $20.8 million.

KY Economic Development Reforms Can Guide IL
Companies have announced billions in new business investment in Kentucky a few months after the state passed key economic reforms. Illinois lawmakers should take note. In April alone, Kentucky Gov. Matt Bevin has announced nearly $3 billion in new business investments into the state.

Ivesdale Considers Privatizing Water System
After once more failing to receive a grant to improve the town's water system, village officials are starting to consider the possibility of selling it. Village Administrator Jim Brewer said the Illinois DCEO gave no reason for the grant application's denial. An income study that the village did as a prerequisite for the grant has expired, Brewer added.

IL Bill Would "Claw Back" Incentives From Companies that Leave
Illinois State Rep. Michael Halpin and several other Democrats, have introduced the Keep Illinois Business Act, which says that if any business moves out of the state then the jobs created by the business out-of-state will not qualify for economic assistance and the company shall be required to pay back any assistance it received.

Rivian Automotive Deal Moving Ahead
Twin City officials said they're excited Rivian Automotive is negotiating to buy the former Mitsubishi plant in Normal and bring in as many as 1,000 jobs. "It's a mix of excitement and a sigh of relief for the amount of work that's been going into this and trying to put this deal together," said Normal Mayor Chris Koos.

Upcoming Events

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.

Best of the Best Guidance on NMTC Applications
May 24, 2017 - 1:00 PM - 2:30 PM Eastern
This year's allocation of New Markets Tax Credits is now open for applications, and CDFA is here to help guide you through the process before the June 21st deadline. Tune into this webinar to hear a panel of expert speakers discuss the tips and tricks that they have learned through many years of working with this program. We'll review basic application instructions and consider elements of previously successful applications along with an interactive Q&A between the panel and participants. Don't miss this opportunity to hear the insiders' perspectives before you submit your application.

Illinois News

IL Should Consider TIF Reform
Northwest Herald | May. 9 | Tax Increment Finance (TIF)

USDA Grants Support Baseball Bat Company in Southern IL
The Southern Illinoisan | May. 3 | Revolving Loan Funds (RLFs) | Rural Development

USDA Grants Support Rural Development
Missouri Farmer Today | Apr. 28 | Rural Development | U.S. Dept. of Agriculture (USDA)

Thumbs Up: To Using TIF Funds Properly
The State Journal-Register | Apr. 25 | Tax Increment Finance (TIF)


State Partner

Illinois Department of Commerce & Economic Opportunity Illinois Finance Authority

Venue Sponsor

Seyfarth Shaw LLP

Principal Sponsor

Ehlers Katten Muchin Rosenman LLP

Premium Sponsor

Baker Tilly Virchow Krause Bryan Cave LLP First American Bank Ice Miller LLP KeyBanc Capital Markets MB Financial Bank, NA Peckham Guyton Albers & Viets, Inc. SB Friedman Development Advisors Taft, Stettinius & Hollister LLP

Supporting Sponsor

Illinois Tax Increment Association Jacob & Klein Ltd. Kane, McKenna & Associates, Inc Reyes Kurson

For information about sponsoring the CDFA Illinois Financing Roundtable, review the sponsor prospectus and complete our sponsorship agreement or contact CDFA.

Job Postings

Hiring: CEO & President - Renew Moline

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

  • 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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