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, lays...

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.

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...

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...

The World Bank's 2019 Green Bond Impact Report shows investors how we are working with our member countries to support their climate finance efforts and deliver results, on a project-by-project basis.

This report provides financing strategies for the redevelopment of One Monument Square in Troy, NY.

This report details several notable SEC accomplishments in Fiscal Year (FY) 2019. This year’s Agency Financial Report also includes the results of the independent audit of the SEC's FY 2019 financial statements.

Another affordable rental housing funding crisis is brewing–a crisis in the supply of private activity bonds (PABs). PABs are a big part of the answer to the affordable rental housing crisis, but are subject to the annual state volume cap, in...

The establishment of safe harbors is one of the key issues raised by public finance industry groups in their comments to the U.S. Treasury, Internal Revenue Service and the Governmental Accounting Standards Board on their proposed guidance for...

In 2011, Governor Cuomo created ten Regional Economic Development Councils (REDC) and the Consolidated Funding Application (CFA) to advance the administration’s efforts to improve New York’s business climate and expand economic growth. This 2019...

While digital technology has transformed virtually every industry, in certain respects the muni bond market continues to operate in ways that date back to its origins more than 200 years ago. In this Bond Buyer white paper, find out how new...

John Wooten, Philip Angelo, Colin Kalvas, Ryan Kozak, and Dennis Reilly present Bond Financing for Healthcare & Housing Projects

This annual CDFA report reviews the 2018 use of private activity bond volume cap and the issuance of cap-subject private activity bonds in every state.

The annual CDFA Volume Cap report is an essential outline of national private activity bond issuance trends and is used by issuers, researchers, trade groups, and political offices to understand the private activity bond landscape. During this...

This report, authored by the Northeast-Midwest Institute, lays out the major models of public banking around the world and in the United States and examines their various advantages, obstacles, and feasibility of implementation. This report...

CDFA and LISC collaborated on this report, which is designed to offer community organizations an overview of the possible trajectories and best practices to consider when designing community-based Opportunity Zones strategies.

Established in the 1980s, the ‘‘Aggie Bond’’ program provides beginning and low-equity farmers with access to capital. The bonds, which pay tax-exempt interest, may be used by qualifying famers for purchases of farm real estate and equipment. The...

The CDFA Conduit Bond Fee Study evaluates the landscape of current conduit bond fees in order to share best practices and common structures employed by conduit bond issuers across the country. The CDFA Conduit Bond Fee Study only looks at fees...

As the bond market changes, bond issuers must work diligently to keep their fee structures up to date. During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we looked beyond the fee structures and broke down the...

Lisa Hagan with Hawkins Delafield & Wood presents on the Partners Involved.

Ann FIllingham with Dykema Gosset and Lauren Mack with Reyes Kurson present on Issuing Bonds - The Rules.

Jeff Freese with KeyBanc Capital Markets presents on Closing the Deal.

Lauren Mack with Reyes Kurson and Lynda Templen with Husch Blackwell present on Types of Tax Exempt Bonds.

David Safer with U.S. Bank presents on The Partners Involved.

Toby Rittner with the Council of Development Finance Agencies presents on Why Bond Financing?

Valarie Handy with Handy Enterprises and Kristin Hanson with Public Finance Management present on The Basics of Bond Finance.

Robert Swanger with Stern Brothers presents on the Partners Involved.

Brian Cooper with Baker Tilly presents on Structuring the Deal.

John Wooten with Well Fargo Securities presents on Structuring the Deal.

Samuel Bozzolla with Allegheny County Economic Development presents on Bond Financing Case Studies.

Cities, regions, and states across the country are facing natural disasters that can have devastating effects on life, property, the economy, and ecosystems. Climate change is already having observable effects on the environment, and past conditions...

This Public-Private Partnership Procurement Guide (Guidebook) provides advanced guidance on procedures, issues, and considerations involved in public-private partnership (P3) procurement of surface transportation projects, with a focus on highway...