In 2021, the 50 states and the District of Columbia received $39.3 billion in new volume cap allocation. In 2022, the 50 states and the District of Columbia received $39.8 billion in new volume cap allocation, an increase of $422.9 million from the...

The Bond Finance Reference Guide provides readers with a thorough understanding of the different types of bonds, key players in a bond transaction, strategies and techniques in structuring, sizing, and closing bonds, the process of issuing bonds,...

Linking development finance and food systems can be a daunting undertaking for any community. Research on the current ecosystem of food systems finance has positioned CDFA to identify key strategies for the path ahead in this work. The Food Systems...

The CDFA Annual Volume Cap Report provides an overview of volume cap trends and how private activity bonds (PABs) were used from state to state. The 2019-2020 Annual Volume Cap Report is the most comprehensive analysis of PAB volume cap trends and...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we discussed strategies for aligning social justice priorities with bond financing and actions in the muni markets.

In 2018, the 50 states and the District of Columbia received $37.1 billion in new volume cap allocation, an increase of nearly $1.8 billion from 2017. Total private activity bond issuance slightly decreased from $24.86 billion in 2017 to $24.14...

Researched and written by CDFA, this is the third 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 focuses specifically on bond...

In 2017, the 50 states and the District of Columbia received $35.3 billion in new volume cap allocation, an increase of $205.3 million from 2016. Even though total volume cap capacity was lower in 2017, total private activity bond issuance increased...

An Introduction to Qualified 501(c)(3) Bonds Presentations at the Annual Institute on Advising Nonprofit Organizations

Tax-Exempt 501(c)(3) Bonds Presentation by the National Association of Health and Educational Facilities Finance Authorities.

Webinar Presentation on 501(c)(3) Bonds by Marc Feller, Samuel Cooper, and Mark Vacha from Dilworth Paxson Law.

Pat Ray explores how IDAs in AZ play a role in economic growth and what we can expect for overall trends in issuance and performance.

In 2016, the 50 states and the District of Columbia received $35.14 billion in new volume cap allocation, an increase of $263 million from 2015. Total private activity bond issuance in 2016 increased from 2015, climbing from $12.98 billion to $20.38...

This document explains the guidelines and practices that Stanford follows to remain in compliance with rules relating to tax-exempt bonds. Compliance is required both upon the issuance of the bonds and during the post-issuance phase which extends...

This month’s CDFA // BNY Mellon Development Finance Webcast Series on Capturing the Success of High Performing DFA's featured Tim Fisher of CDFA, Paul Toth of Toledo-Lucas County Port Authority, Gary Smith of Chester County Economic Development...

New York City Independent Budget Office has examined the evolution of the roles of Build and the Industrial Development Agency in financing economic development deals for the city and the uses of the revenues the two entities generate.

Julie Eddington (Kennedy & Graven, Chartered) discusses how this bonds can be used today to provide a significant portion of a project’s capital stack with a special focus on bond financing programs in Minnesota. Of special focus are affordable...

Catherine Courtney (Briggs and Morgan, P.A.) discusses how this bonds can be used today to provide a significant portion of a project’s capital stack with a special focus on bond financing programs in Minnesota. Of special focus are 501(c)(3) bonds.

New volume cap allocation in 2015 totaled nearly $34.88 billion for the 50 states and District of Columbia, an increase of one percent over the previous year. Combined with more than $58.48 in existing carryforward allocation, the total accessible...

Jamie Licko (RiNo Art District), Andrew Feinstein (EXDO Events), and Chandler Romeo (Blue Silo Studios) discuss the RiNo Art District located just north of downtown Denver, now a thriving neighborhood full of remarkable arts and artists that is also...

This publication from the IRS describes rules that apply to a particular type of qualified private activity bonds: qualified 501(c)(3) bonds. This Publication also addresses practices and steps an issuer or 501(c)(3) organization can take to protect...

In 2014, the 50 states and the District of Columbia received more than $34.5 billion in new volume cap allocation, an increase of 5.5 percent from 2013. This was in addition to more than $59.1 billion in existing carryforward allocation, making the...

This report, produced by CDFA for the World Bank, is intended to provide information to communities and countries interested in identifying potential financing tools for the remediation and redevelopment of contaminated industrial sites. Specific...

John Wooten of Wells Fargo Bank explains the power of tax-exempt private activity bonds.

John Wooten of Wells Fargo discusses the structure of tax-exempt bond financing.

South Carolina Jobs-Economic Development Authority (JEDA) served as conduit issuer in 23 deals totaling nearly $826M , benefitting 18 different borrowers in 12 counties comprised of six multi-site health care systems, three public charter schools,...

In 2014, the IRS released this report on information for tax-exempt and direct payment bonds issued in 2011. The first section provides an overview of the market by State. The next section discusses direct payment bond programs and presents data for...

The year 2013 marked the third straight year of decline for total issuance, from a recent high point of more than $14.5 billion in 2010 to a low point of $8.8 billion in 2013. The 50 states and the District of Columbia received $32.7 billion in new...

Daniel McRae with Seyfarth Shaw discusses the Georgia Bond Market. The presentation includes information on backing the bonds, tax-exempt bonds, manufacturing bonds, 501(c)(3) bonds and much more.

For this webinar on a new clean energy bond finance model, CE+BFI examines Qualified 501(c)(3) bonds as a mechanism for communities with 501(c)(3) organizations seeking to undertake significant clean energy projects

The Clean Energy + Bond Finance Initiative created this recommended financing model factsheet for clean energy development. The Qualified 501(c)(3) model achieves low-cost capital for renewable energy installations at nonprofit facilities.

Illinois Finance Authority emphasizes the use of loans and bonds to provide the lowest cost of capital possible to public, private, and nonprofit borrowers for energy efficiency improvements.

Robert Sanders and Lewis Milford with the Clean Energy Group make a number of innovative recommendations for expanding the use of solar generation for community development, specifically in low-income neighborhoods in Baltimore, Maryland.

IHS Global produced this report to study the fiscal impact of the proposed 28% cap on tax exempt bonds issued by 501(c)(3) organizations. The study found the impacts would be profoundly negative for nonprofits and dramatically hinder their ability...

Sidley Austin produced this excellent primer for entities interested in accessing the U.S. capital markets. This resource provides an overview of securities regulations and laws, the offering process, compliance obligations, exempt offerings, a...

In August 2012, Goldman Sachs Bank’s Urban Investment Group (UIG) announced the first social impact bond (SIB) in the United States, a $9.6M loan it would make to support the delivery of therapeutic services to teenagers incarcerated on Rikers...

Private Activity Bonds (PABs) provide profitable firms with capital cost savings stemming from the difference between taxable and tax-exempt interest rates. The Michigan Strategic Fund issues PABs on behalf of the borrower and lends the bond...

Lew Milford with Clean Energy Group discusses the lending market and financing trends for clean energy developments. Milford explains the Clean Energy + Bond Finance Initiative, and how capital markets provide an avenue to spur investment in...

Blake Sharpton of Peck, Shaffer & Williams LLP provides an overview of bonds, tax allocation districts (TADs), and special district finance. Sharpton also describes the importance of repayment revenue sources and the bond financing process.

Steve Eikenberry with First American Bank discusses bond financing strategies in the state and how this tool can be used to provide a significant portion of a project's capital. Eikenberry shares a number of projects that utilized various bonds to...

Rich Frampton with Illinois Finance Authority shares an array of successful projects around the state that used bonds, among other tools, to finance improvements and access low-cost capital.

This document, prepared by the Joint Committee on Taxation, summarizes the provisions and discusses economic issues of allowing a deduction for certain State and local taxes, tax-exempt and tax-credit bond provisions, income tax, and the treatment...

South Carolina Jobs-Economic Development Authority released a new document explaining Industrial Development Bonds (IDBs). The document provides bond participants, the process, advantages of tax-exempt bonds, and general structure.

The Columbus-Franklin County Finance Authority Financing in Partnership with Banks Program is aimed at improving access to tax-exempt markets for manufacturers and 501(c)(3) businesses. This document outlines how the program can be utilized.

This document from CEG and CDFA, the organizations behind CE+BFI, outlines the challenges facing clean energy development and how bond finance can provide a solution. The Action Plan specifies existing bond finance tools and the goals for the...

Development finance is the heart of economic, energy, infrastructure, technology, and environmental development. Without core financing tools, such as bonds, TIF, tax credits, and access to capital, development projects simply cannot move forward....

California Educational Facilities Authority's report card and information brochure about tax-exempt bonds and equipment financing.

Craig Hammond of Dickinson Wright PLLC covers the basics of private activity bonds, including the types and regulations.

This presentation covers financing structures for NMTC or HTC and tax-exempt bond projects. The authors are Mary Nash Rusher of Hunton & Williams, Peter Duffley of Womble Carlyle Sandridge & Rice, Dick Helde of Dorsey & Whitney, Marshall Philiips of...

This packet from the Columbus-Franklin County Finance Authority provides information about the Authority's programs, including bond finance and tax exemptions, and project case studies.