During this installment of the CDFA-PFM Capital Markets Webinar Series, we gathered experts from the leading rating agencies for a timely discussion on ratings, long-term outlooks, and how municipal advisors determine the importance of rating deals.

IRS Revenue Procedure 2020-45 sets out the 2021 Low-Income Housing Tax Credit and Bond Volume Caps.

The Public Finance Network, a coalition of bipartisan organizations, released a new report, the Advance Refunding Myth Buster. The report aims to educate and inform partners on advance refunding municipal bonds, a crucial infrastructure financing...

CDFA released the final publication of the CDFA Food Finance White Paper Series, Advancing Local Food Systems Through Development Finance. This webinar provides an overview of this publication as we review CDFA's framework for expanding traditional...

During this installment of the CDFA-PFM Capital Markets Webinar Series, project finance experts and issuers discussed the viability of how private activity bond deals can fit into complex capital stacks.

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we looked at how bonds act as a resilient economic driver by financing the critical facilities and infrastructure that stabilize local economies during and after...

CDFA's first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and public...

This is the sixth and final white paper in a series examining the potential creation of a food systems asset class that supports the market growth of local and regional food systems. This paper presents three replicable strategies for restoring...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, finance experts discussed the Municipal Liquidity Facility's requirements, market trends since the MLF's launch, and what can be done to make the MLF an attractive...

Due to recent events related to COVID-19, the SEC released a public statement on May 4, 2020, encouraging municipal issuers and issuers to consider voluntary disclosures of forward-looking information regarding the potential future impacts of...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will showcase various childcare facilities financing programs from across the country and highlight projects that have successfully utilized these tools.

Congress is considering federal funding for infrastructure to revive an economy damaged by COVID-19. Congress previously provided infrastructure funding for economic stimulus in the American Recovery and Reinvestment Act of 2009. This Congressional...

During this installment of the CDFA-PFM Capital Markets Webinar Series, experts analyzed how recent regulatory actions have impacted how banks buy bonds and how deals are priced.

The Washington State Department of Commerce authors this biennial report on its Bond Cap Allocation Program for the state's legislature. This is the report for 2020.

Nicole Riggs of Mitsubishi UFJ Financial Group and Michael Stanton of Build America Mutual present on the session on Credit Enhancement.

Robert Franz with Stifel Nicolaus & Company and Charles Goodwin with The Bank of New York Mellon present on the session Who Buys Bonds.

John Hallacy III, President of John Hallacy LLC, and Ben Watkins with the State of Florida Division of Bond Finance present on the Regulatory Update session.

Todd Gibson with Dinsmore & Shohl and Bryan Kern with KPM Financial present during the session on Interest Rate Swaps.

Amy Corsaro with Ice Miller LLP and Robert Kaplan with McGuireWoods LLP present during the session on Arbitrage, Rebate & Calculating Yield.

Bethany Pugh of PFM gives a Market Update.

Raymond Bentley with AMTEC and Charles Goodwin from The Bank of New York Mellon present on the session on Refundings.

Rich Rodriguez with Business Oregon presents on the session on Leveraging Resources.

David Parker with Business Oregon presents on the session on Leveraging Resources.

Doug Green of Baker Tilly presents on Selecting Consultants and Negotiating Professional Fees.

What should issuers, underwriters, and advisors know about working with their team of professionals to complete a bond deal during times of crisis? This interview-style discussion featured a round-robin of advisors divulging the capital markets...

Cultivating Development explores the mutually beneficial relationship between food-based amenities—such as working farms, community gardens, food halls, restaurants, and grocery stores—and real estate. Developers, owners, property managers,...

PricingDirect, a wholly-owned subsidiary of JPMorgan Chase & Co, recently joined the list of companies that deploy these innovative techniques, specifically Machine Learning (ML). Leveraging J.P. Morgan’s strengths in the application of ML within...

A new paradigm is emerging – one in which mainstream investors increasingly want to invest in the social, economic, and environmental well-being of communities. LISC's research paper, CDFIs and the Capital Markets: Tapping into Impact Investors,...

This document from the International Capital Market Association provides an overview for green bond market participants to consider when they are assessing the relevance, strengths, and weaknesses of various sustainability standards or labels as a...

During the first installment of the CDFA-PFM Capital Markets Webinar Series, we focused on the market impacts of COVID-19 through the start of June and what can be expected going forward.

During the May 15, 2020 Weekly COVID-19 Development Finance Briefing, three top bond issuers discussed how issuers are faring during the COVID-19 crisis, the state of issuers' portfolios, issuers' concern about default risk, and how issuing...

This is a term sheet for the Federal Reserve Bank's Municipal Liquidity Facility. It was updated on May 11, 2020.

The second webinar in our disrupted economic development series features Baker Tilly’s municipal advisors in a conversation about how COVID-19 is impacting municipal finance and economic development in the public sector, specifically what...

During the April 17, 2020 Weekly COVID-19 Development Finance Briefing, panelists discussed the latest movements in the capital markets. Speakers included Mike Decker with the Bond Dealers of America, Eric Kazatsky with Bloomberg Intelligence, Tom...

This report to Congress examines the Board of Governors of the Federal Reserve's establishment of the Municipal Liquidity Facility (MLF) to help facilitate access to credit and liquidity so that state, city, and county governments are better able to...

During the April 10, 2020 Weekly COVID-19 Development Finance Briefing, Bruce Katz from Drexel University, Rachel Reilly from the Economic Innovation Group, and Katie Kramer from CDFA examined relief efforts run by local governments, philanthropic...

During this Legislative Briefing, we discussed the latest information about the next stimulus act (Phase 4) from Congress and the urgent actions development finance agencies should take. We examined legislative reactions to the CARES Act, what we...

In Baker Tilly's Disrupted economic development webinar, Baker Tilly’s small business managing partner and others discussed the economic development impacts public sector and private sector organizations are experiencing and expecting in the wake of...

Volatility has risen significantly in financial markets, driven by COVID-19. How might this affect US multifamily and commercial real estate (CRE) transaction markets? In this paper, Moody's explores these issues, fully acknowledging that learning...

Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic...

This brief, published by the International Renewable Energy Agency (IRENA), posits that reallocating global capital into sustainable solutions requires a greater supply of effective and desirable capital market instrument. Green bonds help bridge...

IRS Notice 2020-10 provides population figures to calculate calendar-year 2020 limits for private activity bonds (PABs) and low-income housing tax credit (LIHTC) for all 50 states, Washington, D.C., and Puerto Rico. The PAB cap is the greater of the...

CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help...

"Moving America and the Environment Forward" is a House Ways and Means Committee statement of principles on how the committee wants to approach an infrastructure bill. It includes $760 billion of proposals.

The Kansas Legislative Division of Post Audit examined how Kansas and other states used private activity bonds in calendar years 2016 through 2018. In this audit, they used data from CDFA and other states to determine how states used private...

This report by the Staff of the Joint Committee on Taxation was prepared on January 29, 2020 for a hearing before the House Committee on Ways and Means. It discusses an overview of infrastructure financing options, including the highway trust fund,...

The National Climate Bank Act of 2019 was introduced in the U.S. Senate on July 8, and in the House on December 12, 2019. This paper discusses their lessons and precedents for the National Climate Bank, including relevant details of their formation,...

During this installment of the CDFA // BNY Mellon Development Finance Webcast, hear from our experts as they dive into the data, examine the trends, and offer a preview of the bond market in 2020.

Please be advised that on Tuesday, January 21, 2020, the Internal Revenue Service released a revised Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds (“IRS Form 8038-CP”).

This report from Janney Montgonery Scott LLC's Investment Strategies Group provides an outlook of the capital markets in 2020. Their views should help to sharpen the focus on those that matter as they score the evolution of trade, the global...